depends on the title situation
overall condition, which we don't know w/o pics
if the kid really races you'd think that he'd have installed decent tires and perhaps anything else he's done is at least serviceable
but then here again if the kid really races why doesn't he spend an afternoon and get the fucker running?
My guess somewhere between $200 and his asking price. I'd pop $600 for a nice-ish 400f and I don't even like Hondas.