Actually this is a pretty neat boat. It is an early IOR design similar to the RORC era Contessa 32. This one is loaded with neat gear and seems like a good bargain crfuiser in many ways. Although they don't mention it, the drawings show a trim tab on the back of the keel which is a great way of balancing the helm and improving windward performance.
You can figure that you will have to remove the teak decks and rework the fiberglass decks below and perhaps rebuild the cabin sole. Its a big job but something a tallented amatuer could handle. If you were handy this is probably a good deal at $12-14K, otherwise probably not. Fixed up, as equipped, the boat is probably worth something in the low $20K range.
Volvo engines of that period are a pain in the butt.