What am I missing?

It's a hard sell at that price due to aftermarket add-ons. Yet, if one wants that build then it's a less questionable caring of how hard the trk was driven off road regardless of what the owner might say. Realistically, most sellers never expect to recoup their aftermarket build investment in full or close to it regardless of their vehicles being a street hot rod to an off road whatever and it's capabilities. The added aftermarket engine/drive-train/suspension is mostly an expected write off/loss. Stock, or very close to it, is where it's at for good vehicle resell value/price.