It's a totally fair price these days, perhaps even considered a pretty good deal. In the age of Squire's that sell for $350 new it's much more difficult than it once was to find MIM Fender's for less than 3 bills.
A few notes about components. 90's examples usually had poplar bodies, but don't let that scare you. It's a fine tonewood that just isnt very pretty. I would also note that the stock 90's ceramic pickups were servicable, but not great and as nice as the more recent ones, so you might want to plan for a pickup swap someday.
A bit off-topic, but my 90's MIM P has one of my favorite neck profiles. Standard P-bass width but quite thin front to back.