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You'll have to look carefully to see what the winters did to the underside but it does seem doable. Welcome to the site by the way.
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"You'd have yourself a real street-sweeper here if you put a little work into it."
"I go fast enough."
"You can never go fast enough."
1995 GT
1999 ZX2
If the floorboards are intact and there's not any mold or mildew in the interior, I'd offer $850.
If the floorboards are rusted through anywhere or it has mold or mildew in the interior, I'd offer $200-300 at the most. Fixing those problems would almost require a parts car, or that car would be a parts donor for another II if either of those problems were present. (just my opinion, I've seen far worse cars restored, I just wouldn't take the time or invest the money right now myself.)
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1976 Ford Mustang II Ghia: 302 with a 600cfm Holley, Edelbrock Performer 289 intake, Dynomax Blackjack headers, and 2.5" exhaust with Flowmaster Super 44s. C4 Automatic tranny, chrome 16" pony wheels, fuzzy dice, half-vinyl top, and painted in the tackiest color ever (harvest gold, that's why I call it "The Goldenrod").
Also have a 2003 Dodge Ram (lightly modded daily driver/tow rig/office on four wheels/dining room/home away from home/workshop... I call it "The Big Blue Dawg".)
No matter what you pay for it, look at throwing another $4000-$5000 and a lot of time into it. Or someone elses time and alot more cash. All depends on your abilities at restoring.
1977 cobra, would you buy it? 
