You can find much better deals than that with a Ninja 250.
Which have you considered other bikes? I got a 1994 Yamaha SecaII that had an Air Cooled 600cc I-4 with about 60hp. It was my 1st bike then become the 1st bike of two more people. Both of whom have wrecked it and the bike is still going strong. I paid $1500 for it with that being a little much. I've seen them for cheaper but at that time I had no choice but that bike since I couldn't get financed.
And even though it was a 600cc it wasn't that fast. For about an 1/8th or so it ran with a stock 350z(Non-Nismo) and then the 350z would walk away from it. Did great highway and got 70mpg highway and 50mpg if you ran hard everywhere you went. Here is video from my 1st month of riding(I know you love the gear)
http://www.youtube.com/watch?v=t1VCVN4UZ30
Good luck with your search.