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I agree with the 5K - 10K valuation. This would be mainly based on existing revenue figures but a large number of other factors are also involved. e.g. potential of the sites, stability of traffic and earnings, room for improvement, pagerank and age of domain etc.
In general sites, usually sell for 6 - 18 months revenue (median = 10 months). However, large established forums tend to go for more (at 18-30 months) because they are less dependent on search engine traffic. The bottom line is that you could be reasonably sure that the site will still be around and earning money 3-5 years from now.
Derek
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