Only the $45,000 price tag on this 1970 Ford Mustang Mach 1 suggests it might be one of the original 2501 equipped with the fearsome 428 Cobra Jet engine. Nevertheless it seems to have a 428 installed, and that will make for some serious fun regardless of its authenticity. The listing here on Craigslist states that the car is “80 Plus % Restored,” and what we can see looks pretty good. Thanks to Motorious for some details, and to reader Matt H. for spotting this Eugene, Oregon classic.

Witness the listing’s only engine picture. Part of the 20% or less work remaining apparently includes some wiring and hose routing. With no VIN or stampings shown, and a Marti report mentioned but not offered, it will take an inquiry, a phone call, and a personal inspection to determine the vehicle’s original configuration. If the price was $25,000 then it wouldn’t really matter, but why include key information in the listing when it’s more entertaining to answer the same questions over and over on the telephone? On the plus side, real or not, a 428 CJ will put a smile on your face every time you drop the hammer.

That red paint gleams when the light hits it right. A “glass out” paint job makes for super-clean edges once the windows and rubber are installed. The Mach 1 package includes performance and cosmetic upgrades. While they may not bring the prices of the earlier Mustangs, I favor the ’69 or ’70 among pre-computer Mustangs.

The high-back bucket seats show well, while the steering wheel may have seen better days. A fold-down rear seat offers commodious cargo capacity with the fastback roof. Don’t leave your just-frosted wedding cake back there for long, though; the nearly horizontal rear glass has been known to bake anything left beneath it.

Wood grain trim dresses up the mostly-black interior. Extra parts (including some new in the box) come with the sale. The 428, automatic transmission, and 3.50 rear-end gears should prove more than a match for the vintage wheels and bargain tires. With an asking price below the seller’s investment, would you jump in to get this partially-restored pony project over the finish line?