Hi everyone..

I recently got into fixed gear riding. I already own a kilo tt and I absolutely love it. I ride every weekend back home but unfortunately go to college in riverside and have no way of transporting my kilo back and forth. So...I am looking to buy a second bicycle to keep at my college home, for transportation and such. So searching through craigslist I found this bike (pics below). The selling price is $160..and I was thinking of slowly getting new parts...converting it to a fixed as well. I just want to know if $160 is way to much and not worth it for an old frame and if I should just wait to find a better deal. Any feedback would be greatly appreciated

Thanks guys