Pondering Buying a Long-Neglected Cherokee 140
Hi, Phil here, just joined minutes ago and am going to jump right in for some advice. I am looking at buying a long neglected PA-28-140. See the following:
What would you offer, if anything, for a 1966 PA-28-140 in the following condition: TTAF 2883.0, TSMOH 553.0, Lyco 150 hp
Last flown in 2008, sitting outside since then on an airfield 3 miles from the ocean (canopy cover installed).
Last annual 2009 Started regularly per owner after 2009 until about 2 years ago.
Interior is original and in decent shape, exterior badly in need of paint job. All non-aluminum surfaces show signs of corrosion, mostly surface.
Pulled cylinder, crankshaft looks good. #3 and #4 cylinders replaced in 2005. Compressions 77-78-77-77. Airplane actually started last weekend, though right mag is dead.
Wing spar AD completed, spar looks good. SB 1244B, rear spar metal plate completed, looks good.
Avionics: Basic IFR, no ADSB out, No autopilot.
Still need to investigate bird's nest in tail that we noticed today.
Is this a diamond in the rough, or a pig in a poke? I keep expecting to find show-stoppers with my A&P, but so far looks liked it could be saved. What say the group?