TJ, from what I saw on KBB and NADA that is about what the low end of the price range is. The only thing is I don't know what the mileage should be for that year.
I picked up a 2006 Bombardier Traxter 2-up (front to back) from a neighbor a in 2008. 500 cc, carb, full time 4 wheel drive, shaft drive, high and low gear range, auto or manual shift. I think it had less than 200 miles on it. Came with a plow, it has a winch, and a couple of extras.
Other than having a brake cable break and changing the fuel gauge, it's been trouble free. It was a deal that I couldn't pass up. His wife couldn't get on it any more and they wanted to buy a side by side.