It depends. How does it ride? If it rides fine now and you want to ride as it is without putting any money in it, then it is a good deal. If you have to put some work into it (new parts or some labor) then you can get a bike like that for about around 100 bucks or less. For my money, I like old quality steel frames because you can work on them and convert them into single speeds real easy and on the cheap.