This is ordinary VIR conduit cable that could have been made anywhere between 1920 and 1960. As per Davesparks it was never supposed to be installed outside of conduit as it is single insulated, so this is likely the work of an amateur who found an old coil of it and decided it would do. Therefore, its condition is immaterial; it needs to go. You might find it's still tough and durable, or it might crumble in your fingers, all depends on the exact formulation of the rubber as to how well it ages. The IR usually remains good, even when it's about to crumble. VIR in good nick often measures better than brand new PVC.