Smaller than 54, it's either a 50 or a 52cm. For Centurion frames, he should measure from the center of the bottom bracket to the top opening of the seat tube, which is lower on the side than the front. Use the side measurement.

If that's a salmon and white, 1987, but it doesn't look like the salmon colored model.

Red/White 86 would be a straight Ironman with 600EX components, coppery Araya rims w/red labels, but should have red hoods (Dia Compe levers on 1986).

Red/White 87 would be a 105-equipped Ironman Expert with Wolber Super Champion rims, hoods would be black, so my guess is 1987 Expert in red and white.

Best I can tell from those pics.

Price is right if condition is average or better.