This boat, in decent shape, and WITH a suit of sails is worth $15K-$20K.
1970 morgan (Sail) Boats For Sale
A suit of sails will run you $2-$5K
The interior cushions could run you $3K-$6K
Are the cabinets sound?
How does the rigging (running and standing) look?
How about the engine?
You make no mention of any equipment (GPS/VHF/etc.)
What do YOU plan to do with her - Sail, or use as a floating condo?
You already know that it floats (but not for long).
In your position, I would probably offer to take it away for free, and see what happens. Be prepared though, you may end up PAYING for disposal.