I agree. I believe those are actual Reynolds stickers, and the full chrome fork would suggest an 81. I passed on one from outside Philly, a pearl white one in very good condition.
If everything works, and if all you need to do is replace tires and tape, then $150 doesn't seem too bad to me. But it may be high for your market. I see a lot of bikes pictured with a jumped chain, but it still sends up a red flag for me. Maybe you can talk him closer to $100.