A running car is going to fetch more $$$ than one that doesn't. Does sound like a timing belt breakage. Remove/peel back the top timing cover to verify.
If you're digging into the timing belt, might as well change out the water pump while at it. You're going to need/fabricate a crank pulley holder, but otherwise a set of 3/8" and 1/2"-drive tools plus a breaker bar (18" or 25" 1/2"-drive at Harbor Freight is about $10 coupon sale) and extensions (you may or may not need a 1/2"-drive one for the crank pulley) you're in business. Cam/crank seals, the oil pump o-ring/shaft seal mentioned above. Valve cover gasket and spark plug tube seals, reseal the semi-circular plugs. You can check the prices of the parts on rockauto.com just to get an idea and use the 5% discount code:
http://www.toyotanation.com/forum/1...4-rockauto-discount-code-18.html#post12823386
A Gates Krikit-II belt tension gauge can help you set the right drive belt tension as these engines don't have automatic tensioners.
https://www.amazon.com/Gates-91132-Belt-Tension-Tester/dp/B000CRDLZM
The Aisin timing kit with the waterpump (one that includes pump housing) is fine. Here is another sample list of what you might want to consider replacing as a part of a compete timing belt job. Of course, check autotrader.com to see what it's worth first. We lost a lot of good pictures in the DIY section, but you can find timing belt changes on Youtube and decide from there.
GATES K030295 Micro-V AT Power Steering Belt
GATES K050435 Micro-V AT Alt/AC Belt
FEL-PRO TCS45920 Crankshaft Front Seal Set (includes the oil pump shaft seal and o-ring - aka ufo, fish, spaghetti etc)
FEL-PRO TCS45641 Camshaft Front Seal
GATES TCK199 (1 Belt, 1 Tensioner, 1 Idler) Timing Belt Component Kit
STANT 48278 180° w/Jiggle Pin OE Type Thermostat
AISIN WPT010A Water pump w/o housing (it's easier if you get one WITH housing)
FEL-PRO VS50304R1 Valve Cover Gasket Set w/Spark plug tube seals
not to mention NGK Iridium-IX spark plugs, NGK wires if you need them. And radiator hoses, among other things like filters, etc.