I can see the Schwinn going for about $200 in my market, I think San Diego is probably similar. See if you can talk him down, if you like the bike and it's in good shape.
__________________
1964 JRJ (Bob Jackson), 1973 Wes Mason, 1974 Raleigh Gran Sport, 1986 Schwinn High Sierra, 2000ish Colian (Colin Laing), 2011 Dick Chafe, 2013 Velo Orange Pass Hunter