There was a time when being offered a car with no engine or transmission wouldn’t necessarily be considered much of an opportunity. But times change, especially when the vehicle in question is an increasingly sought after model that can often times appear with plenty of rust issues when found in project form. That’s certainly the case with the Fox body Mustang, as values have been steadily rising and plenty of project cars have serious rust issues in the shock towers. So, this claimed rust-free 1990 Ford Mustang LX roller listed here on craigslist for $5,000 may be more realistic than you’d think.

Now, even I believe the asking price here to be on the high side, but I can understand the seller’s rationale for asking what he is. This Mustang does appear to be very solid and free from the cancer we’re used to seeing in the snow belt. The seller has also already spent some money and time prepping it for a seemingly well-planned build, as he has removed the original automatic transmission to prep it for a manual conversion. The interior has also benefited from some improvements, such as replacement carpets, floor mats, and door map pockets. Numerous spare parts will also be included, with full details in the listing.

The engine has been removed and is not included, but the seller will include a good T5 manual gearbox with a known bad 3rd gear syncro. All of the parts needed to complete the manual conversion are said to be included, but you’ll have to track down an engine yourself. The engine bay looks clean and I don’t believe you will need to do any paint work in here while the engine is out, but it certainly makes sense to freshen it up where possible. Now, if you plan to change the color entirely, this is a great time to clean up some of the excess wiring and re-spray the engine compartment to match the new paint.

Suspension-wise, the Mustang already rides on H&R lowering springs with Koni adjustable shocks, and the 5-spoke wheels are said to be new replacements. The brakes have also been refreshed but the seller notes that the 2.72 rear axle has a leak at the pinion seal. A Flamming River steering shaft has been installed as well, and a few other improvements are noted in the listing. Overall. this is an interesting opportunity to finish a project with lots of tricky parts sourcing already done, but at the same time, the price seems a touch high for a car that still needs a fair amount of finishing if you go forward with the manual swap. However, once complete, you’ll likely have a desirable specimen of a Fox body on your hands. Do you think the seller’s ask is reasonable?