Depends. Buying to ride or buying to flip? If it is in decent shape $75 is a good price for a "ready to ride" bike. Be sure to include the cost of the parts it needs in the final assessment, though.
You can always but it, swap the wheels with the Peugeot, and sell the Peugeot off.
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"Love is not the dying moan of a distant violin, it’s the triumphant twang of a bedspring."
S. J. Perelman