That's a huge price for a 1928 house, and only adds to the glut afflicting this spectrum of the price range, but Deer Park has supported nose-bleed prices before, and that's because of its great location, large yards and really gracious homes. It's quite the neighborhood.
I wouldn't be hugely surprised if this sold in the (low) $8s - it also wouldn't surprise me if it fell all the way down to the mid-$6s before finally selling. Which is called "going out on a limb". But really, it's hard, for me at least, to gauge the very limited market for houses up in this range. Lots of people would love to live in Deer Park, including myself, but will one of those people also have the money to indulge that desire, and the inclination to do so?