Just bought a 12 speed 23" Raleigh technium. Used. ($100)
The rear wheel had a broken axle, and it was a Campagnolo freewheel, so I replaced that ($140), plus chain, and moved up to 2x7.
The brakes and limit screws need some fiddling, but it looks to be a significant improvement over my old Mongoose mtb with bent handlebars and hanger.
(The photo's from the craigslist posting that I bought the bike from; I've since put pedals on.)
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