How much would you offer this guy?

crashcourse

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This bike has been sitting out on the sidewalk for about six months without moving. I want to knock on the guy's door and offer to buy it, but I'd like to get an idea of a reasonable price to offer.

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The chain looks to be in poor shape, the battery is probably dead, but the rest looks pretty clean. I think it is complete, but it hasn't been registered since last August. I'm guessing this guy is a student, and with the end of the semester approaching he may be leaving town and be willing to sell.

So, what's a fair price, assuming the engine isn't seized and there isn't major mechanical trouble?
 
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