Other dates for nearby serial numbers: 533326 Jul 1939; 533332 Oct 1939; 533358 Dec 1939. All are .22/32 Kit Guns.
It is impossible to tell from the low-res and poorly exposed photos what the gun's real condition is. It obviously has some muzzle wear and lost blue on the ejector rod. The cylinder has a turn ring that is not horrible, but I wouldn't call it light. The harsh lighting pretty much leave the rest of the frame a mystery, but the finish seems sort of patchy where it hasn't been overexposed. The Regulation Police style stocks don't have any obvious chips or gouges and seem to be in decent shape. That may imply that the gun was not heavily used, or it may not. Depends on whether these stocks are original or a replacement. If they are original, it means the gun has a rebated (stepped) grip frame to accommodate the design of the RP stocks. In this case the serial number should be on the front of the grip frame. If the RP stocks are replacements for either round butt stocks or the two-screw target stocks, then they would have to have been whittled down to fit a standard non-rebated frame. If the serial number is on the butt of the grip frame rather than the forestrap, then the gun was manufactured as a round-butt specimen.
The Prewar KGs are not often seen -- I estimate that no more than 1300-1400 were produced between 1936 and 1941 -- and top specimens bring $2500 and up. If this one has an asking price of less than a grand, you wouldn't be hurt to take it. If the seller wants, say, $1500 to 2000, you should at the very least expect to see better photos to back up the implied higher condition. If you have had a chance to handle it and know for yourself that it is in operating condition and in better shape than the pics allow us to conclude, so much the better.
As others have said, it wouldn't be difficult to get a replacement front sight and pin it in. If the rear sight notch is square, the front blade was probably a Patridge. A round notch in the rear sight would imply a bead front sight, which might be a bead on a post, or a Patridge blade with an inset bead.
EDITED TO ADD: I have been known to take chances on gun purchases, but something about this one makes me think I might let this one go by if it popped up in front of me. If you want to proceed, I encourage you to take some extra steps to make sure it is actually what you want.