RUN!!! - Don't walk there and BUY IT!!!!
Even though it's in sad shape and you may not be able to sew with it - it's a priceless antique that will look great on a shelf in your quilting room (and a bargain at $25.00.)
If you want to try and get the missing parts for it, EBay is a great place for finding old Singer parts and there are also a lot of other online Singer parts sites that carry hard to find pieces.
Either way, good luck and hope you but it. :P :P :P :P :P :P