When to make a car a parts car?

Hi everyone. I have the opportunity to buy a 68 barracuda notchback that is in need of a good amount of work and repairs to make it run and drivable for 5k. It has some rust but is overall solid because it wasn’t a soft top car. I’m on the fence about getting it for some parts I need for my car and also parting it out for others but could be a good project car for someone wanting it. I turn to everyone to see when does everyone consider a car a parts car? Is the price too high to be a parts car? Thanks everyone!
A local kinda car lot has a 65 Galaxie 500 2dr hardtop sitting. Stopped and got out to look and his DEW started barking. The 390 is out and seized in the back yard. No windows, interior is shot and some rust. He is asking $2,500CDN. I walked.