Just had a similiar experience, that worked out well enough. If you haven't already done so, getting an idea/line on a replacement stock, original or reproduction before committing, will put the deal into a more realistic perspective. Thinking the scope doesn't really add value to this deal, and would try to work the price lower. Recently picked up, a 1951 336A in 35 Rem with a bad buttstock for $350 (includes $30 shipping and $20 FFL fee), so would have to say $375 is something worth considering in my book. Once that stock is replaced its more like a $550.00 dollar rifle.
I thought if you had a gun you shot someone with it in defense not used it as a club.
By the time you re-stocked it and did all of that work would it be worth your while at that point?
That is not counting anything that could be wrong besides being used as a bat. Because whatever split the stock could have bent something.
But all that said if I wanted a project I would be all over it like white on rice.
But not being a betting man I would have to think real hard before jumping in on it.