It's hard to find mint condition bikes for that price these days. I would go for it if it fits. Some of my friends restore classic bikes and sell them for about that price.
Not a bad price as long as it fits you. 30 or 31" inseam would be fine at about 5'8" or so, give or take and inch or two either way. If it is in as good condition as the add indicates then even though its very low end that isn't a bad price.
