worth the price? 1978 kz400

Hi folks

I'm looking into buying my first bike and I've checked out this bike recently and can't seem to find anything if the price is too much. 1978 KZ400, chain and sprockets look good and the frame is straight, starts on first kick.

The tank needs cleaned and the bars are placed so low they ding the tank. How low is too low of an offer? This person has posted, removed, and re-posted for about a month as well.

seattle.craigslist.org/see/mcy/3048237438.html

Thanks for any advice!

Since it's the el-cheapo model with the drum front brake (the '78 A2 and B1 had disk, only the '78 C1 had drum) and it needs work (handlebars and seat are crap, tank dented, missing chain guard etc.) I'm thinking $500 tops. Ed

just say no like nancy reagan

Thanks again for taking a quick look.

I knew it was worth asking.