Ability to use RAID, current setup only has the capacity for 1 drive.
Is this a good option or is there a better option?
I've also been considering using an external drive enclosure with software RAID, but I heard that could be unreliable.
EDIT: Is the price good? Shipping is quite expensive (about $100), so I'm only planning on buying it if the deal is good.
If you are planning to use it as a jellyfin or other media server, look for 8th Gen or later Intel. They have Intel quicksync that provide hardware decoding.
Intel Quick Sync video saw a lot of improvements on 8th gen & since it's all so old the pricing differences between 7th & 8th gen are going to be negligible.
I think the fact that Windows 11 is only supported on 8th gen makes the previous generations quite cheap. Many companies are preparing the upgrade to windows 11 and start throwing the old stuff out.
You make a good point, but OP's pick is still a really good choice. In early 2020 my old desktop became the new home server: i7-6700K w/ 32gb ram. It's been going strong every day since. Unraid with Jellyfin, pihole, HAOS, and like 20 other containers running. I generally serve untranscoded 4k hevc videos locally, but I tossed in an old geforce 900 series for both on the fly transcoding as needed (honestly, it's rare if ever) and for tdarr.