It depends upon the Schwinn.

I started commuting in 2008, and I bought a new Kona Dew for $400--plus another $300 on other stuff. My commute was 2 miles each way over flat ground, and I had not been on a bike in about 15 years.

In 2012, I started riding with Capital Bicycling Club. Thought my first 12 mile Sunday Leisure Ride would kill me. A number of club rides, longer and longer rides over time, and I rode my first two Centuries last year--all on that same said Kona Dew commuter. This past Sunday, I was ride leader for the 12 miles around Summit Lake. I also rode out there and back for a 47 mile ride. Three years ago, if you told me I'd be doing this, I'd have said you're crazy.

All this time, I had a $200 Schwinn sitting in the garage. A 1986 Giant made Schwinn World that I paid probably right around $200 for it when I bought it new almost 30 years ago. Dropped about $470 on it a few months ago: cartridge bottom bracket, triple crank, chain, front and rear derailer, stem, wider bars, brake levers, bar wrap, brake and shifter cables. LBS did the work. I added fenders and new Panaracers.

This steel (not cromoly), lugged $200 Schwinn is now my commuter for a 5 mile commute, plus most all of my other riding. Blew 3 spokes on the rear wheel, and I think I rode for 3 or 4 days with blown spokes before I realized it. Stole the rear wheel off the wife's 1989 Schwinn World, and I'm riding it until I have to spring for new 700C rims, 35mm tires, a cassette, and some new brakes.