Is this 2004 Honda Shadow Spirit a good deal?

So this is my first bike purchase and I want some opinions before I go for it. The bike I'm interested in has been dropped on both sides, needs front brakes, a rear tire, oil change, and turn signals. It is going for $2000 and has 23K miles on it. It also has a Cobra exhaust system that the owner says is worth $450.

http://ventura.craigslist.org/mcy/4577908483.html

Added (1). How much would I be looking at for repairs as well?

Seems high to me the exhaust does not increase the value despite what the owner says. There are several repairs that need to be done.

It looks pretty good for a bike that's been dropped on both sides! I think the Shadow would make an excellent first bike (if you like cruisers). This bike also has aftermarket handlebars that are higher and narrower than what Honda put on it, and they will make it a little harder to manage.

The exhaust doesn't really add value to the bike. Aftermarket exhausts do nothing except to make the bike louder, to get around DOT sound regulations.

You can do the oil change and turn signals yourself. I have no idea what turn signals cost, but a quick call to your local Honda dealer will clear that right up for you. 8^) Oil plus filter will be around $25 (If you DIY) The tire will be $125-150, including mounting, balancing, etc.

23k miles is not a lot for a bike like this if it's been taken care of. The fact it's been dropped on both sides, though, (AND the aftermarket exhaust) makes me wonder if the previous owner wasn't just a hot dog who just thrashed the bike. Much of the decision that goes into buying a used motorcycle is a judgement of the previous owner! If you're convinced the bike wasn't horribly abused, $2000 is not a bad price.

It is "salvage" damaged, for $2000?

A pitiful deal compared with a $2400 clean Volusia 800 -- http://losangeles.craigslist.org/lgb/mcy/4626662862.html

Yeah a little too high

Not really.
Rattlecan paint job, no turn signals… And no way to tell from the pictures how badly the rest of the electrical was hacked when the LED tail light was added.
The exhaust adds no value, it's a gotta have thing. A new stock exhaust would cost more.
The ad says he changed the oil, and there's still some front pad left.
There's more to "it's been down on both sides" - something he isn't telling.
Why the red tape on the fork seals?

I don't believe cobra has ever made an exahust that was worth 450 bucks - if the bike wasn't re-jetted not telling how burned the valves are… Stay away there are some very good older Honda Shadows for sale for good prices -just be patient. Also the Kawasaki VN 750 is just as good or better - plenty of good used ones aroung too.