If he's healthy, sound, and has a good temperament then that's a steal.
I got my OTTB for (an optional donation of) $160. I know I'll get yelled at for saying that I didn't get him checked by a vet, but he turned out to be...pardon...healthy as a horse. I got lucky I suppose, but I wouldn't recommend taking my fast route. Baby started out as a depressed, skinny rescue and now he's a happy, healthy guy training to be a dressage prospect.