The rust on the bike will hurt the value; the sooner you get the water off the better. The wheels look toasted even if they're functional if the spokes are that rusted. The hubs look to be shimano. This looks to be middling to lower end given the forged drop outs. Is there a tubing sticker? There's not much value here in parting the bike out. That bike will need a lot of work to be rideable but at least the paint looks good. Sell it as is for $50-$75.