Same reliable 488 fan cooled motor as introduced new in 84.
These motors when left stock except for Boyssen reeds & an aftermarket pipe are absolutely bullet proof IMHO. Have run that motor to 9,000 + miles & zero problems!!
Big difference from 1st edition Phazers to the "2", a longer track on the Phazer2, went from 116 to 121 & ski stance was widened out for more stability. Got rid of the "squirrelyness". Also more room under the hood for access.
All in all, great dependable sled. Not a screamer or high hp, but fun & nimble in its day. We have a 93 that has been great for the wife, 5th one we've had in the family.
2" track seems a bit "over the top" for the HP on this sled IMO. Now we ride in high altitude so we "lose" some HP, but I would never put more than an 1 .250 to 1.500" track on them just due to HP, but thats me.
I would check compression just to be sure. Bought one a few years back that sounded "ok" seemed ok, ran a bit "rough" was told had been sitting for awhile, all was true, but turned out compression was down to 60-70 on one cylinder, ring had broken just enough to make it weak, gal never noticed loss in HP, ran it that way by the looks of the piston for awhile!!!
Honed it out, new rings, put it back together & it ran great but, paid fair market value at the time. This price sounds pretty fair if it looks & runs.
Good luck.
PS: Got a good stock Yammi track for sale, no holes, tears etc off a Phazer 2, had 1900 miles on it when we converted to a 1' Camo. Track looks real good.