Assuming the mileage is legit, and it's in good shape, I would say it's actually cheap. With mileage that unusually low, you can't really compare it to other '94 vehicles. It's really more appropriate to value it in comparison to all similar vehicles (4x4 mid-size pickup), with similar mileage and equipment/capabilities. Yes, it is still a '94, and may not have some features that newer, 52k mileage vehicle will have, so knock it down a bit for that, if those things matter to you. What your left with is that the asking price is pretty low for a 52k mile 4x4 pickup, in good shape.
Of course, location will play a factor, when pricing something like a 4x4 truck.
While I'm sure there are geographical differences in value, between IN, and NJ (where I am), as an example, I'm going to be selling a '93 Ranger XLT soon. I'm asking a pretty firm $2500, and I'm confident I'll get it, or very close. It has 150k, it's a stick (4.0L-V6), regualr cab (unlike the extended cab you're looking at), it has all manual windows/locks/etc.., and no a/c. Of course, it also has many new parts, and will have a new inspection sticker before it's sold. It's certainly not and "apples-to-apples" compariosn, but it should give you some sort of idea about the value of the one you're looking at.
