If they mean 24" wheels it's probably a youth bike and would be too small for an average-sized adult. If they misprinted and meant 26" wheels then it's a pretty good deal if it's reasonably roadworthy, only needs a little tweaking, and you either know or are willing and eager to learn to wrench on it yourself.

Problem with cheap bikes is they can quickly become a money pit if you don't know what you're getting into from the get-go...