1958 Roadmaster 24 inch cruiser

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I scored this sweet 24-inch Roadmaster today. It has all original parts, but the tires and fender stays need replaced.
It does have the original headbadge as well as a 1961 Roadmaster license plate (not shown) and original bike licenses stamped on the seattube (1961)and the rear fender (1958). It should look pretty good cleaned up.
Can anyone verify that it's a 1958 Roadmaster? Is it worth much? I paid next to nothing.

Roadmaster%201.jpg


Roadmaster%202.jpg


Roadmaster%203.jpg
 
It also came with a small metal San Diego 1961 license plate that is yellow and in good shape.
I like the look of the bike, but it's way too small for me.
All it's going to take to get it running is cleaning the cranks, crank bearings and hub as well as replacing the chain, tires and tubes.
Hopefully my friend's son won't be too embarrassed to ride it.
 
You should be able to date the bike using the serial number stamped on the underside of the bottom bracket. This bike is later than 1953 and the serial number should have a suffix with two digits followed by the Cw symbol. The two digits should be the year it was produced; this is good up through 1956. If the bike is later than that, the serial number will be followed by a G for 57 or will have moved to the rear dropout if it is later yet
 

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