That's a great find at a great price!
I sold mine for what I paid..$35, in the early nineties after sewing on it exclusively during the seventies and eighties when we were off grid...lovely machines.
The first thing I would do is gather up some small brushes and clean up the dust....flip the head back and go at it.
Mine always benefited from a drop or two of sewing machine oil in every small hole intended for that.
Round bobbins of the correct size were hard for me to find but now
should be easy
online. I think I only had three.
We had a vacuum cleaner/sewing machine repair person in the area and he was everyone's go to for custom belts for any old machine.
Seems like singer needles are universal so I was able to buy them easily.
I have an even older 'New Home' treadle that has family history, usable but my preference now that we are tied to the grid is an old electric Franklin machine that was made the year before I was born 1949...it has put in a lot of miles.
I don't think old treadle Singers wear out...and if they do there are many uses for the treadle parts. When I was weaving a lot I modified a junked treadle to wind bobbins...could go fast
enough I got
thread burns on my fingers
I kind of miss that excitement of cleaning up and repairing an old machine...have fun!