Universal built both USGI-pattern carbines and a later, much inferior cheap copy with few interchangable parts. The latter are subject to parts breakage. If the gun has an obviously stamped op-rod, it's one of the cheap junkers. Run away, run far away! (Actually, I'd pay $100 to $150 for one of these if it seemed to be in good condition, but not a penny more.)
He has it listed about $490. I don't think it's stamped. And he told me it was a pretty good gun. I know the owner and he doesn't take a lot of junk. I'll check it out again and get a better look at it. I just don't know what to look for. haha
$490 would IMHO be high even for an early Universal carbine built with GI parts to GI pattern. I believe these have cast receivers (as do Federal Ordnance, National Ordnance, Plainfield, Iver Johnson, etc carbines). I wouldn't way to pay more than $300 to a max of $400 for one of these, even in today's market. That price is outrageous for a stamped-part Universal.
Rumor has it that a bunch of real USGI carbines will soon be re-imported from Korea. Prices on these should be under what the CMP carbines have been going for. I'd expect somewhere in the $500 neighborhood, maybe even less.
The reliability/parts interchangability both crossed it off my list. Oh well, there is a hammerless CT grip SP101 that's caught my eye. Can't even tell it's been fired. Decent price too... At least, I think I remember it being a good price