My Grandparents had an old house like that. A coal stove in the basement, a woodstove upstairs, a woodstove in the Livingroom, and finally one upstairs...for a TINY HOUSE! They went through 8 cords of wood per year, or a few barrels of oil.
We moved into it for a year, and the first thing I did was put in insulation. That winter we used (3) ton of wood pellets to heat the house, with a bit of coal in the basement a few nights when it got below zero (f). Instead of maintaining (4) stoves, we heated that house with what amounted to an armload of wood (40 pounds of pellets per day). My Grandparents are dead, but would have been shocked at how easily it was to heat.
It was insane. The insulation cost was $576. For years my Grandparents blew through oil or cut lots of firewood, when just a little bit of money in insulation would have saved them a lot of work/money.