When I had to give up my 5th gen and I started looking, I was finding 3-5 new posted 4Runners a day on craigslist & Toyotahaulics Facebook Page. I finally brought my decision down to two different 4Runners...
First was a 2000 LIMITED 4Runner, 116k miles, Spacer Lift of 1.5", 20" wheels and tires, arb front bumper and rear custom bumper, timing belt done at 98k and decent maintence records. Carfax was okay, but it had been an a accident and that's what inspired the owner I purchased it from to do the custom tacoma bed versus rebuilding the back end.
Kotrin 3rd Gen Build - 13.5k asking price
Second one I looked at was 1999 SR5 with super charger, 3" lift, 33" tires, no 7th injector kit or anything. 200k miles decent carfax, timing belt done at 100k and oil changes semi documented. Asking 12.5k.
I looked at both, both were automatic (which I have to have because of my medical condition). The non super charge one was good sounding, few minor things needing fixed. A few oil leaks by the real main seals, and the 'common' oil leaks around the engine. Everything worked for the most part minus the radio, few other minor things. The super charged one was peppy but pinging like a mother trucker. Neither one was wheeled hard off road (no scrapes, or damages underneath the underbody). The engine compartment was dirty, some oil leaks and I think needed the pulley nose re-done I was sure. I WANTED the super charger since you can't buy them anymore really but he wouldn't go below 12k and I couldn't bring myself to do it, 6k above KBB...and needed another 4k easily, closer to 6k. I went back to the other one, the 2000 and had my dad crawl around under neath it and do the 'second' check look/mechanic/etc.. Had my dad see what he would budge to, He offered him 11k cash, and he said nope, I can't do it for less than 11.5k....
...Needless to say (as you saw in my build thread) I purchased that one. I've since than put 6k miles on it since Novemeber and couldn't be happier with this purchase. I wish I had the super charger, but I love this one almost as much as my only child(don't tell him). Since purchasing the 2000, i've put new tires on it from the fifth gen, winch, toytec ultimate lift, custom truck bed canopy, stereo, transmission by-pass. So 2k, maybe 3k?? But happy none the less =)
Still nervous for my memorial week trip with the by-pass...but I have my dad going with me in his dodge so not worried =D
So bottom line, have a non objective mind also look at it(like a mechanic friend). If it's what YOUR wanting, than it comes down to what you feel its worth to YOU. I don't regret the 11.5k I spent on mine. I bought my previous 3rd gen with 190k'ish miles for 6k as a Manual. I could have gotten one with less cash out of pocket, but I love having a bed, unique and more!!!
Enjoy and Welcome(when you officially purchase it) to the Club!