I have one of these. Bought it at a yard sale and fixed it up for my son. Two notches above the typical Free Spirit, probably a notch above a Varsity or Continental. A low end frame dressed up with alloy components.

The fork on the one you have pictured looks like flat steel, vs. a convetional fork on mine. Brakes look different too. Dia Compes on my example, Shimano Tourney GS derailer too.