Listings of twin engine aircraft with high time engines close to TBO or well over that and old avionics seem to be the normal now. Is the lure of a cheap twin and the chance to get some low price twin time overpower the reality of the condition, or pilots have no idea of what they are buying into.
Option 3 - compare to the price of a comparably performing single. At $500K for a used Cirrus SR22T with everything 7-10 years old, you can buy a $200K twin and put in a lot of upgrades. Depending on the as-bought state of the plane, you may end up with something that is more "current", if you have the patience to deal with the upfitting process.
From looking at the current market, it sure seems like a lot of planes are being sold off by people retiring out of ownership. From the outside it looks like they just want/need to get out of a plane that they know well and have been using for many years without any thought of needing to upgrade, and running the engines gently to avoid the cost of overhaul or replacement. Pricing reflects these realities...but you a buyer needs to go in realistically planning to make those repairs/upgrades.
Here's an example of a Twin Comanche for sale:
1964 PIPER TWIN COMANCHE For Sale in Conroe, Texas at Controller.com. 1964 Piper Twin Commanche located in Conroe, Texas. Annual done in April 2024.
www.controller.com
Annual is current, so theoretically flyable today.
Don't like the time on one engine? Fine - do an overhaul. Don't like the avionics? Put in a new glass cockpit. All in, you still have paid less than a used SR22, and now you have all new avionics and one new engine.
This is just my observation, from the perspective of a "new guy" doing early research towards a likely purchase next year.