Some months back we bought a Franklin 1911 like the one you are asking about for around $180.00 after taxes. It is in a Parlor Cabinet rather than a regular treadle cabinet. It sews very nice although it's noisy as can be.
The machine needed cleaned and oiled, but was otherwise in good condition. The cabinet needed repair on the bottom due to water damage, but was otherwise in good shape.
With the cost of the materials and supplies I figure we have just over $225.00 in it. I don't care, I bought it to use and enjoy, not to display in a glass case.
Joe