Seems kinda high for no title and not running.
1976 Yamaha RD400
https://springfield.craigslist.org/mpo/d/kiefer-1976-yamaha-rd400/7595830022.html
Yeah that's more like a $1,500 bike.
I paid $1500 for a lot less. May not look perfect, but if it was close and I was still in the market, I'd be all over it. A flipper will pick it up, invest ~$1k, and sell for good money.
note the drag slick on the back. and yes, thats an actual slick.
id def go with 1500-1800 max.