Due to the lack of makers name I'm guessing that's probably been made for a mail order catalogue or another outlet that doesn't only deal with bikes like sporting goods store or Walmart sort of establishment. Made to sell at a bargain basement price. The stick on name would be changed to suit the seller.
Could be from the seventies/eighties.
Definitely worth spending a small amount cleaning up, removing any rust and regreasing and recabling.
It should yield a good, serviceable bike for someone with minimal effort, however it does look like a more budget friendly bike based on the lack of obvious branding and the style of brake on the front. As @Cycleops suggests it looks like it's from the mid to late eighties with those decals on the forks, the lack of clearly visible cottered cranks in the photo would put it later than a 70s bike.
I know this thread is old but ....look at the brakes though. Weinmann or something similar, look like 70s brakes.
Weinmann calipers? Certainly not, go and wash your mouth out
Cheap pressed steel probably from china, see a lot of them here.