And now let me throw a lit match into the gasoline.
The last thing you should care about is a "fair" asking price. Fair to whom? I assume you want to get the most from the sale without putting too much effort into rehab. That's fine; that's where most children are coming from when selling their parents' home.
One thing you should look at is whether it makes more sense to sell "as is," whether to do minor cosmetic fix-ups (new paint, carpet, etc.), or whether to spend a bit more and really rehab the property. My sister and I faced a similar question recently. We analyzed the situation--the housing market, the work that needed to be done, etc.--and decided that, for us going the rehab route (new kitchen, new baths, new flooring throughout, and more) made the most sense. Frankly, though, in most cases the "best" answer is the minor cosmetic work. That's where you'll usually get the biggest bang for the buck, and without investing half a year of your life into it.
But back to "fair." Once you analyze the numbers, figure out what makes most sense to you. Then price it where you'll get the greatest return with a reasonably quick sale. (My sister and I priced the house we did slightly under the market and got a contract in 2 days.) If you for a moment want to be "fair" to buyers--with all due respect, forget it. You work the numbers, you develop your strategy, and you sell at a number that makes the most sense to you.
Hope that helps.