I've been trying to figure out the age on this bike, the only thing I found is that it's a 1957. But looking at pictures from Google all the ones that look like it are from the 40s. Can anyone tell if '57 is actually how old it is? I hope I posted this in the right spot.

Your serial number is on the BB, 1952 or earlier. The look up tool is for the numbers on the dropout. So, yours may be a 40's model, with the front fender on backwards. Here's a list of the numbers going back to 1948, but yours looks like it's earlier with a B at the beginning. http://www.angelfire.com/rant/allday101/SchwinnCodes1.html

I have a refurbished 40's Schwinn Spitfire bike that I get for thirty bucks kept it all original didn't even paint it