That bike would be great!
I think you could get it for less, I would try to pay less, but for what you are doing, its already set up, so it might actually be a bargain.
I only use Craigslist and cheepo bikes. I have never paid more than 125.00 for a bike. You don't need a lot of money to make a decent
commuter. My personal recipe that has worked well for a decade, is a 125.00 Craigslist bike~ old japanese steel for the 70's or 80's.
A set of Schwalbe or Gatorskin type puncture resistant tires(A MUST!!) and a mirror and set of lights that I recycle from bike to bike.
For 300.00 you can build a commuter that will give you a few good years of service with a little maintenance. It doesn't have to be
expensive or complicated. When people first start commuting, they buy a bike, and almost invariably, after they accumulate some
miles and experience, they go for another bike more fitting of where they are, currently. If you go with old japanese steel, there is
no way you will be too far off in the start, and you will not have a large expenditure of money already put out on a bike you don't
want to ride any more.
In summation, I always recommend cheap and uncomplicated. Its not hard at all, anything will work! Have fun!