What you heard is wrong.
As long as the maintenance is kept up, it is a very reliable car.
It won't be quite as good on gas as a reg Celica, but unless you drive it hard, it gets pretty good mileage.
My 92 gets ~ 30mpg hiway. I'm not really sure in the city, depends on how I drive it.
It's in CA I take it?
The 87s are really rare. You don't see many at all. I didn't even know there were any in the US.
How many miles are on the chassis?
Any rust? [That body tends to rust a bit on the moonroof and rear fenders, so be careful].
If the car is in excellent condition, $2200 isn't bad, but it never hurts to pay less if you can.