I paid in the low 2's a month ago for my 1 owner '98 V8 AWD Explorer. $3600 isn't terrible, but something closer to $3k would be better. Leaves more buffer if you need to sink some $ into front end repairs. The V8 AWD, if maintained, should keep you in very good shape with minimal investment in the drivetrain. Front end would be the only big pending investment.
I put plugs, wires, upper ball joints, lower ball joints, shocks, rotors, brakes, inner and outer tie rod ends, upper control arms, sway bar bushings, u-joints and CV axles in at a parts cost of $1000 with an alignment, doing the work myself in the garage over a couple of days. It came with a new radiator, battery, alternator and tires. Between all of that, I have around $3500 in it total with a lot of uncertainty taken off the table. I'm only offering all this to maybe help give you some perspective.
Also, there's a '99 Explorer V8 AWD with leather interior and 220k in pretty decent shape inside and out for sale for $1899 at a car lot locally. Not sure if any of this helps, but I hope so. Good luck with your decision.
