I know jack chit about aircraft worth, but $8K seems like alot, doesn't it?
My 150M was bought for 13.5K, IFR capable, ADF, MX300 after market radio, new plastic inside, good windshields, Rosen visors, with a engine at overhaul, but in mid-70's compression that I hope for another 100 hours, and a new paint job by the owner that looks like hell up close, but gets compliments alot. If you don't get to close, it looks great.
I've priced the engine overhaul at $5k being an A&P (like Gary) with a IA as a friend, so that makes a really good 150 without alot of WORK making it around 19K, with a zero time engine.
This ship sounds like alot of work. Depends on how you price your time invested, and even so, the parts and paint will be alot. Still, you can't put a price on building something up, if that's something you would enjoy doing.
Good Luck.
