The 5.0L that it has isn't strong on torque, and the 5.8L is better. So if you want to do much towing of anything more than a really light trailer the 5.0L might prove to be a problem.
In addition, it has the AOD, which also limits its towing capacity.
So this would be a good "running around" truck. It'll get good MPG for a truck of the age. But it isn't set up for towing very much.
Gary, AKA "Gary fellow":
Profile
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