I've been watching this one for a good while now, from the first time he listed, through this relist which is about over. It would date to right around 1918. I have two of these in my living room: Kroehler KoDav loveseats that fold out to a 3/4 sized bed. I wish I could have this one, too. Dunno where I'd put it, but I could be a KoDav hoarder so easy. And for $99! Whew!
The oilcloth is original and not really in terrible shape, considering. My Kroehlers have that underneath their more recent upholstery jobs, too, and they were in much worse shape. If you can't live with it and you can't find brown oilcloth to replace it with, go with leather. I did that for one of mine. I bought a full hide on eBay for around $75 and just cut it to size and stapled it over the existing upholstery and it looks nice. The other was recovered somewhere along the line with red marbled Naugahyde and Barry likes it so we're keeping it, at least for awhile.
Anyway, if you can snag this one, do so. If you do, let me know and I'll tell you what I did for a replacement mattress.