I agree with Don. Probably a hi-tensile steel frame and an overall weight of 28-30#. In the earlier Boom period Euro bikes like this were common. By the later 1970s and early 1980s Japanese made bikes had taken that market over.
2.99 for a ridable bike is on the one hand a great deal. On the other side though if you're looking to resale you might get $10.
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“Life is not one damned thing after another. Life is one damned thing over and over.”
Edna St. Vincent Millay