Had one like it except a bit newer,they good for small things and you can still get some parts for them I don't remember where thou.
Offer $200 for it,There are some things you would need for it that arent in the pictures such as change gears (pita to change) no tool holder (the cutting tool don't get mounted in the tool post) and a 4 jaw chuck is needed for centering odd shaped parts and a face plate with drive dogs is nice to have.
The one I had liked to eat the split nut cus there isn't a clutch for your power feed.And they don't have a back gear for slow turning.
There are an ok hobby lathe but I was lucky and found a 12 inch Sound Bend with a ton of tooling for $450 and sold the altas for $300 and it is a much heaver machine that does anything I throw at it.
The lathe was know as the king of the machine shop---Get a good heavy one,you won't regret it.