sounds like it is missing the mast step base,yes that is fixable.Check the hulls for soft spots particularly on the deck in front of the pylons.You will need to replace most of the standing rigging.I would suspect you will need to put min. $500 to get it in sailiable condition.Still not a bad deal to get on the water when you probably spent $50 to rent a boat for the day.For the age of the boat check the serial # at the back of the transom,last two digits is the year.