If you are looking for a project bike, I would suggest offering $250, and start negotiating from there. If you want something that will require less work, to make ridable, look elsewhere. It doesn't run, presently, so it will take time, money, and parts, to get it running, and safe to ride.
What type of bike are you looking for? Something to chop into a cafe, or bobber, or something you can restore to original, or something you can build into a street rider, mostly stock? That will help. Cheers!
1979 CB750K (sold, 2012, but not forgotten)
1983 Kawasaki 440 LTD Belt Drive (sold, 2011)
1993 Kawasaki Voyager XII