The 240D's in Texas are getting pretty cheap. I bought an '80 Euro, 4 speed to get an engine. I paid $ 1,200 and it was really too nice to take off the road. It needed a few things, but it would have made someone an economical work car.
It's beginning to look like a Thanksgiving turkey on Friday. I got Euro lights off of it, the engine and it had an aftermarket air conditioner just like my other Euro car. Spare parts galore.
It sounds like yours will fix up well. Try and keep it on the road if you can. Maybe it'll be the car that gets some kid back and forth to college for a few years, and maybe even do him the favor of turning him into one of us Benz nuts.
Good luck and keep in touch.
'84 Euro 240D, 516K miles
'88 300E 5 Speed
Over 800,000 miles in