Value of a '63 M4C 0-300-A 145 HP PROJECT???

[idahopilot]

Hey Y'all! I'm a new member and love this site!
I have learned so much here from all of you, and because of that, want to buy one of these birds. I feel so fortunate to live here in Idaho, but have no Maule yet to explore this amazing flying paradise, hopefully, with all of your help/advice I will start my journey restoring a classic Maule.

Would request some advice from all of you please...

I'm looking at a 1963 M4C with the 0-300-A 145 H.P.
The owner has owned this bird since '75.
The plane is completely disassembled & uncovered and needs to be recovered, put all back together, some AD's addressed, etc...
Plane has been ground looped 2x, and airframe is fixed, welded/reinforced at points where there was overstress, everything looks pretty straight...He says it flies straight and true.
Has the metal wings. All control surfaces look great.
The current owner hasn't flown it since 1992. It had a zero-time done at 1,892hrs...an Auto Gas STC, the plane has a total of 2,220 TTSN, so it has essentially 328hrs since its zero-time. So with that in mind it hasn't been started/run for 18 years. He said that he turns the prop over every few months...
The panel/avionics are all original except for a kx170b stack. Thinking I would need to gut this old panel, and start with a new one...
He has a brand new roll of heavy duty Ceconite roll, along with all of the butyrate/nitrate, dope etc...purchased and stored in his basement circa 1994...He put new 185 brakes along with Larger tires, but not sure what size other than they are larger than stock....In any event with all the above info, what would all of you consider a fair market value for this classic? I really want this plane, but have no idea what to offer him. I respect him and want to give him what its worth, but again I'm going to need to do some extensive work to bring her back to life. Also, what do I have to do to have the engine checked? Would it have to be re-built again because of a rusty crank like some engines? I really have no idea about any of this other than I'm itching for a "project" want it to be this Maule, but honestly need all of your advice.
Thank you all so much for your time, and any advice from all would be graciously appreciated.

[Hottshot]

Well....

There are a few things in what you wrote that are screaming red flags... 18 years of scraping the cyl of oil, that means it has 157,248 hours of dry cyl since “0" time "it fly’s straight" was that before or after the fuselage was "Reinforced” among others although this sounds like a very cool "project" by the time you get it together you would have been able to buy a very nice flying airplane. I don't say this to discourage you but to hopefully let you re-read what you wrote and see the flags for your self, now if you see them and have the means and motivation to take a project like this on then more power to ya!!!

[maules.com]

It takes at least 850 man hours to complete a full rebuild 'project' Maule, if you have worked on Maules before. It can be fun, and you will learn all about Maules.

[RT]

I will say what they always say to people that want to start a homebuilt project. Do you want to fly or do you want to build. Like wup says you will have just as much money into the plane wether you rebuild it or buy one that is already flying. There are many posatives to the project route. You can fill many hours in the shop on those cold Idaho winters instead of watching TV or something less constructive. You will learn alot and make some freinds. You can have things done the way you want. You can spread the costs out as you progress with the project. You will have something to be proud of when you are done.
On the negative side, this is not a homebuilt so you will have to have someone that will sign everything off. This can cost money and cause a lot of problems, I've been there. Another thing to think about when looking for a project is that The higher horspower plane will bring more money when you sell, and cost about the same to rebuild.
I'm not trying to discourage you But to inform you. I have done the very thing you are wanting to do and had a very hard time getting the plane legal to fly. If you do decide to do the project make sure you have an A&P IA that will sign it off .

[MauleWacko]

[idahopilot]

Thank you all for your candid responses.
Yeh, I think I need to pass on this one. It makes a fella sad to see a plane sitting in a barn, nostalgic to say the least! It's kinda like seeing that Shelby GT 5OOKR in the old ladies garage story.....Anyway, I will continue to listen to all of you Obi-Wan's and I can't thank you all enough for taking a little time to reply. Meantime, I'll continue to seek out a plane that I can both afford and learn from. I do agree and am from the school that one should know their bird inside and out, especially when flying the backcountry.
So to find maybe a plane that needs to be recovered, etc might be the ticket for now, I dunno. I will call a local AIA to see if I can get them to take a look and give me the straight dope as well, just for closure...As well if anybody has this model and is need of parts, pm me and I'll gladly forward the contact info on.
Well again thanks and I'll continue to study this site.
BTW does your significant others get jealous of you when you're on this site? ha Mine sure is! She nagged me all week-end: Quote: "Are you gonna stay on that Airplane site all week-end and not pay attention to me?" HELL YEH! I replied!! ha ha Thank you all. Fly safe! MB

[210TC]

Was this plane ever in the desert? Near Palm Springs?

[YELLOWMAULE]

I don't think anybody here would pass on the 500KR though...

[Hottshot]

I don't think anybody here would pass on the 500KR though...

I was going to ask where exactially the 500KR was and go get it but I was afraid I was too late...

[belandd]

Are the repairs legal? is there a 337 for the reinforcing of the repaired airframe.

The 145 hp engine was a good engine in its time but does not offer the type of performance needed for a Maule.

Take out a loan and buy a good already flying aircraft. You will save money

[idahopilot]

I am currently researching a local A&P to take on my next visit to the barn where this plane currently lives and find out if it has the correct paperwork, etc...I also forgot to list that he has already sand blasted and epoxied the frame...not sure if that makes it worth more at this point but never know...
Thanks for all your advice again, and the pm's from you all as well...
Mike

[M5guy]

Hi:

I bought and rebuilt a 76 M5 235C. It turned out well but I just can't imagine this project working out for you unless you really, really want an M4. I don't think you'll be happy with 145hp engine if your going to be flying in ID. The ceconite might be okay, but all the other chemicals are so old you'll need new I'm sure they've all passed their expiration dates. I wouldn't trust the engine sitting for that long and not flying. You'll potentially have 20K into the engine, 15-20K into avionics and 10-15K into fabric and paint and that's without buying any new parts, cables, bolts, etc. IMO you're better off saving another year and buying a better plane. Even now 60K will get a decent flying airplane. Not a cream-puff but one flying. Not to discourage you but I just don't see this being a good deal. I enjoy flying in ID and MT but sure wouldn't/couldn't do it with a 145 hp engine and carry anything.

Oregon M5 flyer

[cbcfly]

Just echoing what all the others have said. I bought a 1974 M5-210 in very much the condition you mention (even the history of two groundloops). Six years and about $45-50k later I had a flying airplane. If your job is not restoring airplanes, or if you're not retired, it's gonna take you at least twice as long as you think (and twice as much $$$ too!) Life just happens. Kids, job changes, etc. I enjoyed the process, and have an airplane I love, but I would do it differently if I was to do it again. I could've had a flying airplane for the same amount of money a long time ago. The added negative with yours is the small engine. It's just not gonna have much value when finished. Keep on shopping and good luck!! I didn't know about this website when I first started - don't think it even existed yet. Definitely continue to consult all the expertise you'll find on here.