The Singer 241 is a high speed, single needle, lock stitch, (as opposed to a chain stitch) lighter duty industrial machine. It is not have compound feed, a walking foot, or reverse. It will handle light upholstery work. Here is the instruction manual for the machine. CLICK HERE
There are 3 models, 241-11, 241-12, and 241-13. The 11 is the lightest duty of the bunch which will only handle 9/32" of material thickness. The 13 will handle 3/8" of material thickness. (for comparison, my Consew 226-R will handle 1/2", and my Consew 255-RB-3 will handle 9/16")
My suggestion to you is that if you intend to do more than just one or two simple jobs with it to invest in a machine with a walking foot that has reverse. While neither of those features is a necessity, they sure make life a lot easier. By simple, I mean this machine would have trouble feeding two thicknesses of fabric and sew foam through itself and still sew good even stitches. If you just want to sew two or more pieces of fabric together, it would work fine. $375 is a fair price if the machine has been gone over by a sewing machine mechanic and the machine is in top shape.