I wouldn't pay his listed price of $3000, but $2000 is more in the right ballpark. I paid a little less than that for my '05 Vibe GT summer, but its body is a little rougher than this one with about 140K miles on it. If I were you, I'd try to track down a set of the factory 16" or 17" alloys or another 5x100 wheel instead of replacing the wheel covers, but that's just my personal taste.
As for recalls and concerns, these cars are pretty rock solid. There's only been a couple of recalls to worry about on an '05. Primarily, there's the Takata airbag recall to replace the passenger airbag, which is probably true for ALL Vibes 03-10. The other is the PCM recall that effected a few years . As hogdoctor said, you can use https://www.nhtsa.gov/recalls
to check for any open recalls for a specific VIN.
ehoff121 mentioned the known issues with 03-04 5 speed tranny, but this is an 05 so it should have the revised design. That shouldn't be a concern, although any transmission can have issues if it wasn't properly serviced or abused. At 125K, it might be getting close to needing a new clutch, depending on how it was driven.
The only issue I've really had with both of my Vibes has been the tick from the blend door actuator when it looses a tooth. It was broken on both of my Vibes when I bought them. Try toggling the recirc button a few times with fan running. If its bad, you'll hear a tick There's a fix on the forum here for how to fix that by flipping the gear, or you can simply replace the unit for $40. The hardest part is getting to the actuator behind the glove box. The funny part is that the Matrix (while otherwise nearly 100% mechanically identical) doesn't have this issue, since Toyota used their own HVAC system instead of the GM system used in the Vibe.
Aside from those, there's not a whole lot to worry about. Its built by Toyota for GM.... so, it'll be reliable.