Make an offer . . .should be well under $500 for a Peugeot that old (and very heavy). Also without a lateral tube on an old Peugeot the ride could be a bit whippy.
Yes, have owned and ridden a very short wheelbased tandem (1977 custom Assenmacher) for 64,000 miles (correct amount of zeroes).
It also featured a bent rear seatube as the Peugeot but had twin lateral tubes and weighed 34 lbs. The short wheelbase made for quicker handling/maneuvering than our older French Follis tandem (which was similar to Peugeots).
The wheelbase was 60 and1!/4 inches. However pilot is 5'7" and stoker was under 5' . . . a perfect fit for us.
So if the owner wants to sell at a reasonable price and it fits properly then go for it.
That will let you learn what you like/don't like about tandeming without breaking the bank before buying what you really want in a tandem: a fast, more modern and lighter sport bike.
Just our input.
Pedal on TWOgether!
Rudy and Kay/zonatandem