This is an unrepaired Vintage 1964 Schwinn Corvette in enameled black.  This bike is missing only the original front light.  All else seems original.  The Corvette will definitely need a tune-up as all the cables are loose and out of adjustment (brakes and rear hub).  Wheels are out of true but seem to be in decent condition. 

Definitely a rider, and with the ok paint, maybe something more.

The paint is ok, except for the numerous scratches and wear points.  The black is even mostly shiny.  The seat tube decal is starting to fade, and the chainguard decal has some scratches.  The top tube "Schwinn" decal, on both sides, is scratched.
Fenders are stainless steel, but still have some dents and dings along with some scratches.  They look ok, but not fantastic.

Overall, with some work (full tune-up and some overhauling), this would make a great rider.
Built on January 30th, 1964. 
Serial number dates to 1964 (A4).  Sturmey Archer hub dates to a 1963.

Measurements:

Seat Tube  -19"

Top Tube - 22"

Stand-over Height - about 31"

Specifications:

Seatpost - original straight post

Saddle - original Schwinn vinyl black and white seat, worn and starting to fade (white), but is original

Stem - original quill stem but ok chrome

Handlebars - tourist style bars, about 17" wide, original white pistol style grips (teardrop Schwinn logo) in good shape and usable.

Brake Levers - Aluminum Weinmann caliper brakes, front and rear
brakes - Schwinn Approved weinmann long arm caliper brakes front adn rear, good shape, work well

Shifter - Sturmey Archer 3 speed lever

Crankset - original 1 piece drop forged cranks with 4 circle design chainring

Pedals - original oval pedals, rough shape and worn

hubs - Sturmey Archer 3 speed AW rear hub, Schwinn front hub
rims - 26" x 1 3/4" S7 rims, steel, rusting.  Need cleaning and truing

tires - both hold air, but are worn.  Rideable though.  General Twin Trac tires.

Serial #A447844

Reference #38180