Take the monthly income and multiply it by 12 to 16. That will give you it's fair market value at both a high end and low end.

Good luck with that. Unfortunately, the only people buying websites for 1yr+ worth of income are corporations investing in extremely high-traffic web applications or services that either threaten their business or could be fantastic asset. Everyone else who buys websites is looking to turn a profit well within in a year, so you're only going to get six or eight months of income max.

A lot of the time thread posters and bloggers alike toss around twelve, sixteen, or even twenty-four months income to access the value of a site. Simply because they need to write a story to get followers. That's why you see those very well crafted threads that appear here on the main forum. Reality is boring and depressing, but theoretical numbers are fun and exciting. Which would you choose to gain an audience?