That is a good car. BUT like the others said, make sure you know how long the water pump was out and if it was overheating. The engine may not like that.
Check the trans fluid for color and smell. The milage is low IF it has been serviced well. It probably burns some oil. That is common at that milage, in general. Mine does. No big deal.

$1600 would be OK since it has body work to do. The general used price is about $4000-4500 or less.

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1979 300D 220 K miles
1995 C280 109 K miles
1992 Cadillac Eldorado Touring Coupe 57K miles SOLD
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1979 240D 140Kmiles (bought for parents) *SOLD.
SAN FRANCISCO/(*San Diego)
1989 300SE 148 K miles *SOLD