Looks like a bargain to me.
226's are nice tractors.
I have no idea what's up with that plow blade. It does not appear to be a Case unit. However, there is a rear PTO on this tractor and that alone is worth $150.00 all day long. New starter? Perhaps $125.00 for a good one. New keyswitch?? Another $30.00 tops.
I'd haggle to get the price down just because it is not running but I wouldn't leave his place without it being loaded in my trailer.