It's worth what you paid as mentioned above.
I'd check it for cracks by slightly bending each limb by hand, and then take it to an archery shop and have them look it over as well and check to see if the limbs are warped. If everything checks out have them put a string on it, which the string will cost you more than the bow.
Don't leave it strung though only if you would intend to shoot it.
Looks like it would be a fun bow to play around with.