It would be worth it only if you happen to have the time, tools, and some spare parts already on hand to fix it. Bike needs a lot of work. The model 100 is on the lower end of the Miyata line, some years it was a decent bike, other years it was basically an entry level bike.
This one looks like a 1985 model which was pretty decent for a low end model.
Make sure the frame and paint are good, and the seat post and stem are not stuck.
You would have to be extremely careful on the spending on rehab, as you could quickly cross the bike's value and would be better off just buying a bike ready to ride.
As far as fixing it up as a flip, forget it.
Last edited by wrk101; 02-20-10 at 05:54 PM.