The Olympic on C/L above was a MUCH better version, with cromoly frame, 3 piece alloy crank, alloy wheels, indexed gearing, etc. The pre-1975 Olympic had cottered crank, steel wheels, etc. That leather saddle appears to be an upgrade. Bike models improved in the 1980s quite a bit.

I live in an average market, sold one fully refurbished, rust free, fresh tires, bearings, grease, cables, etc., for $110. And it took a while. Financially, that project was a loser.