$300 sounds about right for an initial offer, but I can't tell what kind of shape the interior is in from the photo's.
Check the drivers door-frame though, as I think that car is either an '87 or '88 since the turbo wasn't an option for '86's. It is it is possible that an owner did a GTE swap at some point in time, so I'd check to see what it started life as. The spoiler also indicates something after '86.
Check the oil, check the turbo for play. If all else fails $300 would work for a parts car if the interior is in decent shape.
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