Sounds like an ideal fixer-upper/first boat for a single guy with time and an intention to get money. Only you can make the judgement about how this might fit with your budget.Is this boat too much for a novice craftsman with a low budget?
I had didn't have the money to fix up my first boat, but I offered $400 anyway and she was mine. I put in sweat equity and not much else and sold her 1.5 years later for $2500. In the short amount of time, she introduced me to sailing. I've never once regretted buying that old boat. In fact, it's one of the best things I ever did for myself and my family. They say there's nothing more expensive than a cheap boat, which many can attest to, but apparently I bucked that trend.
A word of caution: Even if fixing up the CD25 won't require much in terms of new/upgraded parts, having the right tools to do the job is often the limiting factor. Tools are expensive if you don't have them or can't borrow them.