As new means tires are 20 years old, tubes are 20 years old, bearings and grease are 20 years old, etc. If it was a Black Lightning, there might be some good collectible value. SR400 does not have that cachet.
So it would sell as a Cannondale, in great condition, but needing some basic refreshing maintenance. Around here, about $275 (this is not So CA). No idea where you are located, so adjust up or down as needed. I am in a good solid, but probably average, market.
Cannondales that get more here are either touring models, or brifter bikes. Sold two brifter Cannondales last week.
Last edited by wrk101; 10-25-11 at 06:35 PM.
Reason: typo