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120k. He's the second owner, first was an older guy that didn't take it over 3.5k. Been garaged and all that.
Ive heard that can cause some carbon buildup that you need to get on the gas at least sometimes on all cars but this one has a new top end anyway with the PI swap. Book value for those miles is $5,300 retail he may be trying to re coupe for the mods by asking $5,500 thats NADA but according to KBB private sale value is in the 3grand range http://www.kbb.com/ford/mustang/1996...etype=trade-in
with thats list of mods and what they would cost out of pocket I agree. I think the seller may take a few hundred off his price if the OP offered him cash str8 up.