Brand new tires (June 2006) and recently adjusted brakes.
There's a small metal piece that fell off one of the brake handles, so the rear brake is currently not in operation, but it would be very easy and cheap to fix. I don't have a car, so getting it fixed is more of a hassle than it's worth -- I was only using it for a summer internship.
Here's a picture of it.
Here's a picture of the piece that is missing.
E-mail me at dunncm(at)bc.edu for more info or if you'd like a bigger picture. It's also posted on Craig's List.
I'll be on campus for the rest of the summer and the fall, so if you would like to buy the bike, you can pick it up here.
Only forty dollars!