If it has a rear locker I would be willing to go up a little - but I would pay more attention to the maintenance items personally.
1- How long till the next timing belt change? That is a pretty penny in maintenance $$.
2- How are the tires? The worse they are the more it will cost you in the first 30/60/90 days. I wish I had paid more attention to this when I bought mine.
3- What does need fixing that you would need to do? There is always something that is on the list; what is it and why is it still on the list.
4- Any upgrades that he has done that might add some value to it? I overlooked some flaws because the 4R had a ToyTec lift and s/c on it. I should have paid more attention to the s/c because it needed an overhaul immediately.
Just a few things to double check before you make a big purchase from a good friend.