Is this neck salvageable?

There are likely to be neck issues. Someome has tightened that truss rod up pretty tight. May be compressed wood where the nut presses on the maple in the neck. Is the neck straight with the truss rod nut loose?
Edit. Just saw the bow in the neck in the op. Yes, its a bigger fix. Does the truss rod work at all? Or can you tell?

 

Most likely the reason it broke is because the trussrod cannot handle the pressure exerted by the bow plus the strings. The neck will either need to be heated and straightened and truss rod replaced or machined flat and truss rod replaced. Warpedneck.com can help with heat treatment. Show us back of neck. I've seen several of those fender trussrods replaced by machining out the anchor and replacing. It's still money but i prefer that to removing the fretboard. More folks will be by to help. Some may even try to sell you a service.

 

Cornfarmer;

The thing to understand here is that the Fender truss rod isn't designed to straighten out a seriously bowed neck. It doesn't have the strength or power to do that. Your neck has a bad bow, and somebody tried to use the truss rod to straighten it. It crushed in, and is damaged. And the neck is still bowed.

If you simply replaced the truss rod, the new one would do the same thing. It would crush in or snap. It's not made to straighten a bowed neck.

This neck needs a rebuild. The bow need to be straightened, either by heat-bending or by re-machining. And, the truss rod needs to be replaced/rebuilt.

If you have a pro Luthier rebuild this neck, it will cost $300-$500. You have to weigh that against the value of the neck vs buying another neck.

You can do the work yourself, but it's not a beginner-level job. There are a bunch of threads here on TB where folks have rebuilt necks and replaced truss rods themselves. It can be done.

But I just wanted to make the point that you have to do more than replace the truss rod. You have to fix the bowed neck.

(Note to bobdabuilder: I'm not trying to sell my services. I no longer do truss rod replacements/neck rebuilds for individual owners; only for other Luthiers. I'm just trying to offer helpful advice.)

 

Not the first block'd Fender neck I've seen done this. It isn't too rare an issue, if that is any consolation!

 

Sadly, this is a common problem with Fender basses. The neck gets a forward bow and/or a "ski jump". Both fixable problems. But someone grabs the big wrench and cranks on the truss rod, and damages the neck beyond its value.

 

If the truss rod is truly broken, it must be replaced by drilling out the anchor and the rod where it attaches. I believe Dan Erlewine has a video of him doing this on a Fender bullet rod like yours. See the StewMac site.

The other issue is the bad design of the Jazz Bass inlays and this type of truss rod. The first fret inlay removes lots of wood from just above the bullet adjuster and you can see the crack that lots of them get on the first fret.
If the rod is replaced or fixed that area of the fingerboard has to be reinforced for this neck to be viable.