This book contains six very short "scary" stories and one "scary" poem. The stories are actually shortened verions of old folk stories. The poem, which is quite good, was collected from an eight-year-old, but it's unclear as to whether it was authored by that eight-year-old. This is all documented at the end of the book.
There is even a short FOWARD to the book which encourages young readers to TELL these stories. Even though I didn't realize this was part of the book, this is exactly the reason I purchased it--for my students to use in learning storytelling.
Even though shortened for young readers, the stories are complete. And even though they are written so that beginning readers can handle the text, the stories don't suffer. (But, please be ready to help the young reader with a couple of the words!)
Without actually testing the text, I would estimate the readability level to be appropriate for later second grade.
Finally, be advised that these stories DO contain an element of "scariness" that MIGHT play on some childrens' minds.