325xi price range?

I'm looking at possibly purchasing an 89 325xi. The seller is asking $5k obo. Negatives I've seen include..

  • Fuel gauge doesn't work
  • Odometer doesn't work
  • rust on leading edge of hood
  • Needs new front struts
  • driver seat leather worn
  • rear armrest leather torn at seem
  • automatic

If it's not worth $5k what is the most you would offer? Thank you