Josh,
The Rockola 1432 actually did come in a 45 version. It's also know as the "Rocket". They are great looking boxes with more value than say a Seeburg M100A.
As before, if the owner says "not sure if it works" you have to be prepared for anything.
Typically though if the box hasn't been messed around with as is considered complete the likely suspects are the Amplifier, Input power problems like a bad fuse, bad power cord. A lot of times a connector might come unplugged which prevents it from working properly.
If the mech is complete, sometimes the motors go bad but typically if a box has sat unused for years, the mech's get gummed up and won't operate properly without being thoroughly cleaned fist.
Does this machine have the back doors? Just curious.
For under $500 and locally, this might be worth taking a chance. Check for termites too!