Unless you are comfortable with welding sheet metal it is not worth much. Rust is a killer in these cars and what you can see is about 1/4 of what exists below the surface. He mentions rust in several areas that are typical. I bet the floor is 1/4 gone from sitting outside, the jack points are probably shot, the kick panels are likely rusty on the inside, and on and on. You need to look this car over very carefully before bidding much on it. If you have to pay someone to fix all the rust spots it will become a bottomless pit.

On the other hand, the interior is in great shape (though it is the wrong color and I, for one, don't care for the piping). The engine (almost certainly a B20, not a B22) is rebuilt, but you need to know what that means. A rebuild can be anything from new rings and bearings in an engine with cylinder wear, to full-blown overbore and balanced and tuned motor. And you can't dismiss the fun factor--these cars are really fun!