Can I legally demand my money back due to false advertising on Craigslist?

I bought an iPad from a guy on Craigslist. The iPad was advertised as an iPad 2, however, whenever I got home I plugged it into my laptop to update it and it says it is running on the latest software (5.1.1) whenever the latest software is 8.4.0. I don't know a lot about iPads so I did a little research and found that iPad 1s can't update further than 5.1.1 because they are so outdated. Not only did the ad say iPad 2, but when I texted him I asked if he had the iPad 2 still and he said yes. I don't want to be an asshole and get the guy in trouble, but if he continues to make things difficult about a refund, do I have legal grounds to get one?

This transaction took place less than 3 hours ago and he is telling me he can't give me the money back because he already spent it. (Even though he told me he doesn't have a car, so how do you spend $150 without one?) I have his phone # and address, so he can't just avoid me.

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