5000 Canadian dollars are 4058 US dollars. So that makes it a little more palatable. That is a 28 footer with a big block Chevy motor. They are very robust. A pretty hefty boat! To me it depends on how the rest of the boat is.
How is the motor?
How is the hull?
How is the furniture?
The interior?
Circuit breaker and electrics all work ok?
If the main problem is the King Cobra, it might make a decent big bargain cruiser. As mentioned above, the biggest problem with OMC is that they don't make them anymore. But parts and such are still plentiful, if not a bit pricey sometimes.
A cracked Stern drive is not a deal killer in my opinion. Especially if you have three lowers for parts. Drain all the gear oil, make sure you clean it out of oil real good. Use a water based oil dissolver to flush out all the oil.
Drill a small hole on either end of the crack, and have a competent welder repair the crack. Slow, overlapping welds. I like to soak leather or heavy cloth rags in water and cover everything but the crack as you weld.
After it is all done, the weld will be a little bumpy. You can gently grind it, but don't try to take it down to the original. Just smooth it out. There may be a tiny pin prick hole somewhere in the weld. For added insurance, mix up some marine metal epoxy, or even JB weld (the slow cure water proof type) and completely cover the weld and smooth it out.
This repair will last for years and years.
I can tell you right now that half the skeg on the one in the picture is gone. I could not see a crack unless that small white line near the top seam is one. Skegs are pretty easily fixed or replaced. Plenty of places on the net sell them.
Heck, even Amazon can get a skeg:
Buy Inboard/Outboard OMC King Cobra Skeg WSM SK-24: Gaskets - Amazon.com ✓ FREE DELIVERY possible on eligible purchases
www.amazon.com
I don't see the outdrive being a deal breaker if you get the price down a bit to compensate.
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