If you got low compression on a out board motor 90% of the time it's going to be a galled cylinder or piston or both from running hot or to lean on one cylinder. If it was me and everything else seems ok on that motor I would at least get estimate to rebuild power head. That way it gives you a number to start with in your search for a used motor. Hopefully Archerguy will see this and respond on whether it's worth it or not to rebuild.
Should be a cover plate on one side you can remove and see pistons when they come down on exhaust should be able to see gauling on piston with low compression.
Proud Member of Team Geezer
Charlie Weaver USN/ENC 1965-1979