Is this a good deal?

Hey guys, so I'm a brand new member here but I've been following various threads on this site for about a year now. My brother got a first gen tacoma last year and I fell in love. I've been carefully watching kijiji(Canadian Craigslist) for a good deal but not many have come up. A sly deal was posted about a week ago with no pictures and vague information. These can usually mean goldmines as people won't pursue these posts. It's a 1998 Toyota Tacoma Xtracab 2.7L 4x4. This is a very special truck as it's an American import. It's also very very special as it's one of the very few 2.7L TRD's. Apparently Toyota offered very few 2.7L TRD's and this is one of them. You can see it by the Rear diff locking button in the picture provided. The owner doesn't seem to know this or understand it's potential value. It has SR5 badging and original TRD stickers on it. The ad is offering it for $4500 ($3620 USD). It has 195,000 miles (315,000 kilometers). The body is in immaculate shape and the owner said that he had the frame checked by the dealer in 2010 in regards to the recall. It passed on this check and didn't need any work. He said he did the following to it since he bought it :
New leaf springs plus an extra leaf per side, Front end levelling kit, New starter, New o2 sensor, New exhaust up to the catalytic converter, New ignition barrel assembly (key slot), New cv boots, and New driveshaft hanger bearing.
The owner said that it needed some work before it could be safetied and that the A/C no longer works. By work he meant that it needs a driver side rear axle seal, transfer case front output shaft seal, e-brake, and new brakes (pads and rotors). I'm not really sure if these are seals are normal failures or signs of abuse and potential damage of the t-case and axle. Can someone shed some light on the subject?
I am a poor university student and am considering asking either $4000 or $4500 with all the work done. What do you guys think? Is it a good deal? Am I making a mistake if I pass this up?

 

Hey Paul. I paid $6K US last fall for a 2002 4x4 standard cab 2.7 with 175K miles, standard shift and a new frame and springs. It's the basic model with crank windows etc.
On yours, having the frame checked is truly key. 2010 was five salty winters ago and what was OK then, may be Swiss cheese now. If the engine and tranny have been cared for, you've got lots more miles to go. I had to replace a couple of seals on mine when I got it too. You've got air (savage yard parts are not hard to find) cruise control, new springs and decent looking tires (big and expensive when the time comes). Could be a good deal. Then again, if you have no mechanical skill and are going to spend your last dime buying the truck, leaving nothing to do the repairs that you WILL have, then perhaps monthly payments on a new Kia Soul or equivalent is the way to go. Good luck!