The component mix on that bike makes me uneasy. Matrix rims were sold exclusively on Trek bikes, and the saddle, seatpost, headset and stem are likely not original either. THe problem with that type of thing is that it is more common on stolen bikes.
Also, that looks to be a small frame and likely good for someone 5'6" or under.
Ironhorse did and still does make good bikes. But they also make an astonishing number of astonishingly crappy bikes and always have. The brand makes little difference anyways because all modern bikes are made by the same handful of Chinese contract manufacturers. I don't think Iron Horse ever made their own bikes - always contacted out to other companies.
Also the chain is rusty, which is an indicator of poor maintenance.