That is "probably" the Ranger version. Which was Winchesters budget gun at the time. They had cheap hardwood stocks, cheaper sights and the metal was not finished as well.
Knowing what those sold for new I'd have a hard time paying that much. But with all gun prices being crazy right now that may not be over priced. If it is the Ranger I'd personally pass and keep looking for one of the top end guns with walnut stocks and better sights. But that is me. Just make sure of what you're buying before handing over the cash. Pointing out that it is the cheaper budget gun might be leverage to get a better price.
And if it isn't a Ranger, then $500 is a good price.