Whilst it isn't in bad condition, in fact it looks OK, it isn't in fantastic condition either. The case and case back are in decent and nice enough shape but the hands are slightly corroded and missing lume, the case gasket needs replacing and the watch being sold, "As is" will probably need a service, if not immediately then certainly shortly if this is to be a daily wearer. Before you know it you have put in to it another $250-$350.
If looking at watches in the starter category, at around this budget, I think it wise to show patience and wait for one in really outstanding condition, it won't cost that much more but the pleasure it gives will certainly last a lot longer.
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