^ the disaster is the plan to make it a fixie.

From a pure economic point of view, that doesn't seem like a good donor bike for a fixed gear project. Put a nice seat and seatpost on the bike, replace the brake hoods, and it looks to be a very nice vintage bike.

So a little fix up, you can sell it and realize more than enough money to find a bike with a good frame, but trashed drivetrain, and convert that to a fixie.