It is more than likely a "real" watch. Odds are it was made by Omega. More than that it's impossible to tell without seeing the movement. As Achim said - likely not worth more than $100. Perhaps less. Possibly more.
If it has not been serviced lately, it will need full servicing before you can wear it. That will cost at least a few hundred dollars.
This assumes the watch is actually working. If its not running it could cost several hundred dollars to get it back in shape. You may not be looking to make a substantial "investment" but if you're looking to buy a vintage watch and wear it, some investment is prudent.
If you can pick this up for < $100 now and can't afford servicing, I'd strongly recommend putting it in a drawer and waiting until you've saved up enough to bring it to a watchmaker. But I'd also really suggest saving up money before you buy. For $200-$400 you can get something much nicer, for sure. Patience is rewarded. Impatience..... has its own (different) reward.
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