What's it worth? (03 B-12)

[county]

So, I go down to look at this Bandit 1200 on a car lot the other day.  I had talked to the guy and he said $2500 which sounded good til I saw the bike.
 
It's the naked model, no windshield/quarter fairing
 
17,000 miles
 
tires are bald and front is so disfigured that the bike acts like it has steering/fork problems at low speed
 
chain has approximately 3 inches of slack w/o enough adjustment to get w/i specs
 
tool kit and owners manual are gone
 
I think it is a fair assumption that little or no maintenance has been done on the bike although the site glass showed full of oil which wasn't
black.  
 
Bike did crank right up and shifted fine.  Bike didn't appear to have been down.

[JoBu]

I'm certainly no expert, nor did I pop onto NADA or KBB, but if the bike seems to run/shift fine, I would think it is worth it.  Is the chain shot, or could a couple of links be removed?  Is the sprocket worn?  I would take a close look at the forks and shock to see if there is any evidence of leaks.  Check some other simple things such as brake pads, brake lines, close examination of the motor after it has run awhile to see if there are any leaks, etc.  Heck, my g/f just traded in her 03 Bandit 600S with 18,000 miles, a couple/few scuffs (from soft luggage), and a dimpled tank for $2500.  And no, the bike she bought wasn't marked up...actually, it was on sale.  An '06 SV-650S for $4995.  Sweet!!     Good luck...
 
Cheers,
 
Joe