I paid $500 for Rusty several years ago and it couldn't be driven. Plus, it had a lot of problems. So, if this one is driveable, as suggested, and has no immediate problems then the price is cheap. And some people like "patina", which that truck has - everywhere.
Gary, AKA "Gary fellow":
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Dad's: '81 F150 Ranger XLT 4x4: Down for restomod: Full-roller "stroked 351M" w/Trick Flow heads & intake, EEC-V SEFI/E4OD/3.50 gears w/Kevlar clutches
Blue: 2015 F150 Platinum 4x4 SuperCrew wearing Blue Jeans & sporting a 3.5L EB & Max Tow
Big Blue: 1985 F250HD 4x4: 460/ZF5/3.55's, D60 w/Ox locker & 10.25 Sterling/Trutrac, Blue Top & Borgeson, & EEC-V MAF/SEFI