I would say $250. Bikes with no titles are a pain. If it's complete, then you could part it out and make a couple bucks, but with no title, ugh. And if anyone tells you, "but I know a guy who can..." or "Just go to...", then tell them to get the title for it.
Putting money into a non-titled bike is a complete waste.
Does the engine even turn over? Compression test? These are things you want to check if you just want to keep the engine or sell it. If these don't check out....money pit.