My Santa Rosa doesn't and neither do the ones in the music stores around here. It is hard to tell, but that one looks like it may even have an adjustable truss rod. If that is all you want to spend, to see if the mandolin is for you, there is a chance that it's well worth the money. They only have cheap mandolins but some going for $350 and none whatsoever for a hundred bucks. That mandolin looks as good as anything I have seen in the stores here. It has stayed in place and every now and then, I took it out, tuned it and played it for awhile. You can't see screw as it is out of sight facing the mandolin.
They re-glued and instead of clamping, they stuck a long drywall screw through it. The entry level / intermediate market in mandolins has definitely heated up in recent years. About a year later, the neck was coming unglued and my wife took it to the store and they told her they were not luthiers but they could try to fix it. It seemed to play OK, but needed some bridge lowering and moving to adjust the intonation. I bought a "Santa Rosa" about 12 years ago for $125 out of a music store. Otherwise you might get frustrated and quit! Tuners that keep it in tune are a nice feature. If your just starting out you need the real deal. I've played them,they are a real instrument. You can get a Kentucky A model from a shop with a set up for not much more than that. Still, it would look good on a wall, although I have it in a closet somewhere.
Intonation was off,sounded like mud in the upper registers, the hardware was pretty much junk, except for the tailpiece which was about a quarter pound of solid brass. I bought one of those Taiwan,Vietnam inlaid things a few years back ,just to take a look. I'd bet it is going to need a set up and you might pay more for that than you payed for the mandolin. If you can set it up yourself it might work out. A "C" note isn't a lot to invest to find out. There is lots of that stuff all over ebay.