I agree but it's relatively inexpensive to add brakes. Which is a minimum requirement in my opinion.
Honestly, for short distances and commuting to classes and close about town, just about any bike in good condition will do. Personally I wouldn't worry that much about the resale value because in that environment you can't count on it. I would think along these lines, is the transportation that the bike will provide for the duration worth $300?
Others will advise differently but I'd be reluctant to shell out $300 for a used single-speed for campus commuting. I'd look for a decent hard-tail on craigslist or on-campus sale.
New to the site and biking in general, but I'm looking for a nice bike to get around town and to my University (parking sucks). I've found a bike on Craigslist, but I have no idea if I'm going to get ripped off. It looks to be in great shape, the owner says it's just to big for him. Below is the description:
It's a death machine because it can't stop quickly without a front brake.