I think the modern answer to the question in the OP comes by reframing it this way, "When did the last common ancestor of all living humans live?" It defines what biologists call the clade of humans. The dominant view among biologists would place the answer at around 200,000 years ago.
I don't this makes sense on the micro scale, with sexual reproduction involved. The last common ancestor of all living humans lived very recently, considering that they weren't the only ancestor of all iliving humans. Wikipedia says that the last common ancestor of all living humans might have beeen as recently as 3000 years ago, but it would be ridiculous to say that that person was the first human.
I understood that the MRCA paper that set it at 3000 years ago was one primarily based on statistical modeling assuming a certain rate of interbreeding. The older dates refers to the genetic and female MRCA. In
2013 those dates were generally between 100K and 200K years ago.
I understand that when lines die out the MRCA date moves forward in time. One could include all modern humans living and dead in the clade and that keeps the MRCA date fixed further back.
There's a lot of research currently debated about the potential interbreeding between humans and other homo populations like the Neanderthals and how that might affect the MRCA date. A clade with all of those populations can be defined, too.