From the photos it looks like a flood vehicle.
Doubt it. A rotted cowl along with a leaking or frequently-left-open convertible top will give you the same results. I don't even have to guess that the cowl hat is rotted (trust me, it is) and as for the rest - well, it IS a convertible; a ruined floor mat shouldn't be a curiosity.
It has cancer and without out extensive Chemo it is will rot away setting in place. Even if stored in a good environment. I would hate to see what the frame rails look like right now.
Framerail rot is the least of your concerns. The inner rockers are the key to the additional structural strength needed on the convertible, and they're shot.
Why do you think the doors are never shown fully closed in the ad?
Granted, the left side quarter panel has been (sloppily) replaced with a '73 quarter (note the two bumper filler extension mounting holes filled in, see below), but the right side has just as bad a gap to convince me that the panel replacement had nothing to do with the gap issues.
In short, painfully obvious unibody sagging.
Easy fix my arse. Unibody is trash, unless someone thinks it sensible to tear the whole thing down, replace the inner rockers, trunk floor, floorpans, wheelhouses, quarter panels, cowl, right front battery apron (again, trust me on this), and whatever else is rotted out on it.
Conclusion? Parts car. Value as a whole, $500. End of story.
-Kurt
P.S.: Those moldings are dealer-added. This car does not have the exterior Decor Group w/tu-tone paint, nor the urethane bumper and body-color nose. Bet they didn't rust-proof the bare metal when they drilled the holes out for mounting. The sportlamp grill was probably done at the same time too.