Found 71/70 Combo car

Been driving around outside the city limits and ran across this car. The guy is asking $2,500 for it. We didn't put a good battery on it, but he swears it will run and drive. It's VIN shows it to be a '71 Malibu v8 car. It came with power steering, a/c, rear defrost, and a radio. The dash cap is shot, package tray metal is good. Has surface rust in numerous areas, but the only rot that I found was driver side quarter over bumper, driver/passenger lower quarters, trunk pan has some rot, floors very fair, and front fenders have some rot towards the rear.

The engine is not original. The heads are 441 casting w/date codes of A 10 8or9 and A 8 8or9. The block is a TWF block which is a 350 from a '76 truck.

I took some pics of it today and put them on photobucket, linked below. He wouldn't budge on saying 'no' to selling the complete '70 Malibu in the background.

http://s92.photobucket.com/albums/l25/jodynbob/71 70 hybrid/

I'm just not sure this is a $2500 car. I'm thinking more along the lines of $1200-1500....but then again, I just sold my very decent '72 SS for $11,000 and have decided that was a mistake!