This boat is definitely not worth the materials that you would put into it,
not to mention the time. You mentioned that you are located in Texas. This
site:

http://www.sailingtexas.com/cboats.html

has listings of very inexpensive small boats most of which are located in
Texas. You should probably be able to find a good boat for abot $200,
which is less than you will spend on the yard sale project. Keep the mast
and sail off the delabidated boat. It might fit a Sunfish style hull that
someone is selling cheap.

David
S/V Nausicaa