The owner does not want to go under $1000 because he can part it out for more than that (which he would rather not do because it's still a decent car). He says it is solid despite the rust and it's his 6th Eagle, the only one he decided to keep.
If I can get like 4 or 5 years out of it I would be satisfied, which is why I don't know that rust is a total deal-breaker. Like I said, I'm not in desperate need of a daily driver as I don't commute, and I would treat this car like my baby. If, after those years that I get to enjoy it, the car needs replaced, then I would part it out and probably make more than half my investment back. I have a junk car right now that I've been offered $300 scrap for, and with all the parts that are needed from these SX/4s, I'm sure I could find people interested in buying them.
If I maintain the underside of the car, taking a wire brush/wheel to it, regularly spraying WD-40, and possibly giving it a quick spray paintjob, do you think this could last me a couple years? If so, I may buy it.