In my opinion rust drops the price drastically. I wouldn't offer more than $1000-1500 with the rust, bad paint, and other prob. You might want to look at bit longer, its spring and more cars will come on the market. You won't have to go too far, from what I hear the Philly suburbs are full of them. In my area I saw a super clean orig owner 93 240 with 140K and no prob, asking $3200 about a month ago. Good luck.