Yep, it definitely needs an overhaul. If the cosmetic condition of the camera isn't great, you might consider finding a better condition body, maybe with a high serial number (18xxxxx-20xxxxx), since an overhaul ran me $210 with tax on a previous F3.
I may be going through that with one of my currently-owned F3's as well. Receiving an F3P that the owner says is dead. Could be something minor, or something major. At least the body isn't terrible looking, however the MD-4 is definitely KEH UG grade.