If it is too small, and it looks like a very small frame, it isn't worth anything if your 5'9"
Yes the cassette or freewheel (not sure which this is) looks rusty so I would say the bike likely needs a good overhaul, meaning new grease in the bottom bracket, headset and hubs, and maybe some cables. The brake hoods are missing but you can sometimes find them on ebay easily enough.
I would try closer to 200, if you can't do the work it needs this could run you 100+ for the overhaul. Oh and then there is the pedals... does the seller have the original pedals?
