It's a convertible. It will make a very nice cruiser. It will cost you as much or more to restore it than it will be worth, but you will have fun driving it. Everywhere you go, people will love your car. Also one plus, if it mostly saw summer days for eight years then maybe it's not all eaten up by rust.
I'm thinking a couple of grand would be a fair price.
A '65 will have a rear end with one piece axles, this was the first year.

The negatives have already been spelled out above, except to say it is going to be more work than you expect, they always are.
R.