I had (but have since sold) a 1930s Stevens 416 target rifle (for which I paid essentially $0, having purchased it with a Redfield Model 3200 24x scope for the price of the scope) that would average 0.51" for ten 5-shot groups at 50 yards with ammo it liked. Given that I'm an abominable bench rest shooter (my technique would have to improve substantially to suck), I thought it an extremely accurate rifle, particularly given its age.
The Remington 40x single shot which replaced it would average 0.37" for the same ten 5-shot groups at 50. And as you might imagine, that 40x cost a bunch more than that 416 and scope combination - in a range of $30/0.01 inch improvement.
I saw an old Steven's target model yesterday. It's one of those that haunts you. I am thinking about going back and buying it. I know it is going to be a "shooter". Probably damn accurate. Nice old rifle with a lot of character. Don't know what model it is, but it is set up with target irons at the moment. I don't need it, but at $279 it is a great deal. Probably made in the 50's, if I were to guess its vintage. Now, getting your azz whipped with an old rifle like that is always an eye opener. To me, that would be a fun rifle if I were in the OP's shoes, but I like sleepers and old rifles like that..