Price varies with location and condition. $1500 isn't way out of line for the right bike, but it is far above what I have paid for any SOHC4.
Consider if you have to add tires, tubes, chain, sprockets, battery, tune up items, lighting, electrical repair, tank cleaning, carb cleaning, and correcting or compensating for all the "improvements" that the chain of previous owners did to the bike.
Cheers,