I have a Schwinn Premis I am selling for $139, minus wheels, freewheel, and pedals.
It is soooo much better than the Varsity at $200.
If you can find a set of wheels for $60, and get both from Dayton to you - you're in business.
The frame - however - is 25".
You can probably find better deals on the for sale ads on this forum as well.
I have purchased many Le Tours - including a 12.2, for $100, and put another $100 getting them in perfect riding shape.
Those would make a much better bike. Although I would, and do, stick to the 4130 Cro-mo models.
I will admit that a Varsity can probably be ridden through a brick wall w/o much damage to the frame. (I recently sold a Varsity frame for $15 that weighed more than a complete bike. I knew if I dropped the thing on my foot, there would be no dings in the frame and I would be in a cast. Heck, I may have been able to get more $$ if I took the frame to the metal recyclers.) I would personally choose another way to spend a $200 budget. (For example, my neighbor picked up a nice Continental at a thrift store for $20.) There are loads of better deals for the patient.