I think it was Raleigh's first attempt at Aluminum bikes. Not on the level of early cannondales. $75 IMO is not a good price. Ask for $40.

I won't even get it if I didn't have all the component already. I've been building old bikes up from frame and fork and I have to say it's NOT cheap! You'll put in $150-250 easy on a build for a frame and is only so-so.