Very cheap frame, but more then ideal fodder for fixie conversion.
Perfect choice of bike for that venture - looks spiffy, not particularly valuable, will take less effort to convert to fixie then to put decent drivetrain components on it, and nutted brake mounts gives you the ability to mount older vintage brake calipers to it if you wish (and since the frame isn't too special, I dare say nobody would cringe if you drilled the fork for recessed brakes).
-Kurt
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