How much to offer?

So, working on a short-sale. Owner owes a tad over $100,000. County appraisal (for taxes) is $110,000. House needs carpet, water heater and some minor outside siding work. All similar houses (based on sq. footage and bdr/ba) in the area are listed (note, not solds) at $89,000 +/-. Owner is behind on payments about 3, almost 4 months now. So, what would be a general range and/or rule-of-thumb to make for the first offer to the lender? I’m thinking $45,542 which factors in carpet replacement, waterheater, siding touch-ups and new paint and some nice landscaping to make it sell quick. Also, factoring in 6% commission plus 6 months holding cost and landscaping/maintenance if bank takes home back and tries to sell themselves. Oh, and a few thousand profit for me, too. :biggrin What do you all think? Thanks.