First, welcome to forum!
You can check the spec of the Ninja Jet compressor. It can provide 0.15 CFM at up to 18 psi pressure. It is not going to be a very versatile compressor. It will be fine for artist water color etc. It can still be useful for modeling 90% of the time if you have a good quality gravity feed airbrush such as the Iwata HP-CS AND thins your point a lot to get good finish.
I will not recommend it if you have a bottom feed airbrush, particularly the single action, external mix type. Cheaper airbrush usually needs higher pressure and higher flow rate.
If the compressor is such a sweet deal for you, why not get it and test it out. Let us know how well it works for you. There is not much choice if you do not want a regular size compressor. The Ninja may not be a good compressor for 9 out of 10 modelers, but you may be the one who is happy with it!