He'll most likely get close to that amount. It's not completely rotted out for the area, which always means more. That truck around here would be a solid $3500-4k truck as it sits, due to the fact the body panels are all intact.
If anyone wants to retire early, ship a ton of southwest desert trucks with no rust up this way. If the paint is in excellent shape, I know of several people that would be close to new MSRP on the truck, upwards of $12k.