Not what I, call "cheap." I am no Ford expert, but it looks to me it is no different then a 641. Has the 134 engine, four-speed trans with no low creeper gear, and non-live PTO. I have had many a chance to buy in what looks like similar shape for $1200-$1500.
Now if it was the British model 2000 that came out later, with a live PTO and hi-low range trans - it would be a great deal.
I have one here (641) in perfect running condition and with four brand new tires, plus a front-end loader. I tried to get $2500 for it last summer and had no takers.
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