Here are some pictures of the case. It is in fact for a model 2 SEGA CD with a model 2 Genesis. I do not believe there was a model 1 SEGA CD rental case (there was a model 1 Genesis rental case). Please notice the condition of the inner foam, the rips in the bottom all over the controller holders, the Justifier impression in the foam on the lid of the case, and just the impression of various things all over the foam.
I had purchased this from a Blockbuster in the mid 2000s, and it was in this condition. I was able to get the system and case for $24.99.
Anyway, if there is any angle I didn't cover or a part you want a closer look at, let me know.
I saw one that is gone now on Ebay that went for $150 in similar condition (a hinge was broken and the foam was damaged). However, that is Ebay and I wouldn't expect $150 here. Make me a fair offer or even a good trade. I'm always on the look out for cool Colecovision stuff or early NES stuff ( mid-tier rare games, memorabilia, etc.). SNES too.