I've played many games with a custom card that's exactly like this except that it's +2 Actions instead of +1 Action. So it's a Village card with cycling and a targeted draw. Naively, I figured this would be about a $4 card, but as it turns out it's a solid $5. The cycling power is just amazing, especially in an engine when plowing through Coppers and green cards to find your engine pieces is important. By the way, the odds that all three cards are the superstars of your deck is more of an issue in theory than it is in practice.
Your non-Village version is roughly like a Cartographer Lite -- better quality draw, lower quality sifting. Integrating it into an engine deck would be similarly great, the catch being that if your engine requires Villages, you have to use a separate buy to get one, whereas my card packs both features into the same card.
I'm guessing $3 is about right. It's clearly superior to Pearl Diver, another deck-reordering cantrip, and would look pretty overpowered on its price tier. More significantly, it makes a very interesting competitor with Silver, in the same way Warehouse is -- do you spent $3 on your economy, or on deck lubrication? Important to get that balance right.
Come to think of it, it makes an interesting alternative to Warehouse and not strictly better or worse. Warehouse provides much more flexible sifting but consumes a card slot.
Edit: Agree and disagree with Davio on the Warehouse comparison. If you want a sifter at all, you probably want Warehouse. If you've got an extra buy, this card won't hurt. And if you want multiple sifters, you probably want the rest to be this card. The card slot issue is huge.
