How much is he asking? As you said, it'll need tires, battery, tuneup, carb clean, oil change, tank cleaning, electrical check, etc. All of that will be at least $1000, maybe more. If his asking price is less than $1000 I'd consider it, if not pass for the '05.
It makes me sad hearing about old, low-mileage bikes. Better to ride it until it falls apart. Mine? Put 2k on the odometer in the last 3 weeks. Ride, ride, then ride some more.
The journey is the destination.
2006 VN750 (SOLD)
Red spark plug wires
Stainless Steel brake lines
Stiffer fork springs
Givi bags, Wingrack mount