To me it is a $ 500 car since it can't be heard running / be driven. This way if the car is a total disaster you are not too far off scrap value.

However, last year I bought a non running 97 C280 for $ 1,000 because it had good history, was a 1 owner , lived in CA car for all but a year, was shipped cross country as a non runner as they had hopes of fixing it. ( the engine harness was mouse chewed.)