It was originally a 4 cylinder Mustang the 8th digit in the vin number verify's it was a 4 banger Mustang, A=4cyl E=8cyl, converted 4 cylinder Mustangs are fine when done right, but you will always get more $ for a equal condition original V8 Notch. That Notch has some decent parts in it, interior needs help, make sure SN95 dash swap was done right and isn't a hack job, I'd say $4000 to $4500 would be a fair price.
There are alot nicer out there. It looks to have been in a rear end Collision
Looks to have a crap paint job doors don't match or line up for shit.
If you look around you can build same car for less with mark 8 parts or just do ls swap or a 4 valve, 3 valve swap. That car has alot of problems.
Doesn't the cars age get it around alot of the California laws ?
Looks like too much to me.
Front seats look like they been used as a cat scratching post
Engine's leaning (for some reason)
From the pics, looks like the body work was done by Ray Charles with a pickaxe
Never been a fan of the cobra wheels....even on the cobras!
It has potential, but needs a good amount of work to be a "nice" car
Work = $$
Just my opinion of course.
I would be in the $3000-$3500 range