Whats not to like for that price. It looks like a handy little boat. I suppose it all depends on what you want to do with it. Recanvassing yourself will be around $500? Or less, depending on other repairs needed. Youi may get away with just some paint this year and see if you like it.
If it's still available, it looks very good for that price. It looks to be a good restoration project for someone who is new to wood canvas canoes, the wood looks like it only needs to be stripped, sanded and varnished, the hull looks very good from the picture too. A Rollin Thurlow canoe is a well built canoe and usually hold their value, I would buy it if I was in the market for another canoe.
I would jump on that canoe in a heartbeat. The canvas appears very serviceable from the photos. Sanding and painting would put it back in the water. The mere mention of the name EM White stirs my blood. The small size of this boat overcomes the inherent weight problem. I would pay a lot more than the asking price for a boat like that.