'72 Suburban, What's it worth?

[HillyBilly Chick]

I am new to this site and to trucks in general, so excuse me if I didn't post in the correct place. I am looking at a 1972 Suburban Custom Deluxe. The guy is asking $3500 for it. It has a fair amount of rust in the usual spots. It has a rebuilt 350, 10,000 miles ago, not sure if it is original. Also has a rebuilt transmission, 500 miles ago. Not sure if that one is original either. It has a million miles on it but most of the interior is original. Only the radio is after-market, but the dash wasn't mangled putting it in. It also has rear air which is currently not functioning. Just wanted some opinions on the price since I am new to this. I am trying to convince my husband to buy it. He isn't sure it would be worth it considering the cost of restoring and/or customizing. I just think it is the coolest looking truck ever! Thanks guys.

BTW: It is a 2wd AT with no third row.