Welcome to the wonderful world of trying to price old cars. The problem is that it is worth what someone is willing to pay and how long the seller is willing to wait. That being said, I think your price is more in line and in fact for a car with electrical problems that dosen't run, I would go lower. I was thinking $2500-3000. Do some looking around first. You don't have to jump at the first carrot that gets dangled in front of you. Remember they made over 2 million of these cars between 64 and 68, there are still a bunch out there.
Important points to consider are originality, if you are going to keep it that way you want something fairly complete to begin with, if not then original is no big deal. Second, rust. If it has holes in the floorboards or the shock towers are leaning, I would pass for a better car. How much work are you going to do on the car VS how much to have done? My best estimate on bills are to double what you think it will cost, add half again as much and you are in the ballpark. Do you want a V8 car or are you happy with an I6? There are substantial differences between the two. The I6 can be converted fairly easily, but with lots of parts.
Pick up some books and do some reading first so you get a better idea what you would like to get.
Good luck, hope you get what you want.
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