coffeedrain

I have googled and googled, but I can't figure out how to appraise this bicycle. I bought it from a bicycle mechanic a few months ago, and after letting it sit I have finally settled on moving it along so that I can pay bills. I payed $300 with a wheelset, and I don't know if I got ripped off or if I can get that money back. Check out those rear dropouts! Any help is appreciated. Thanks. P.S. my goodness the baseboards in my kitchen are dirty.