It's not talked about very often, but there's a vibrant market for small-scale SaaS companies. My co-founder Neil Patel and I have bought two, Hellobar and Stride, and we've sold a few, including KISSInsights and ShareFeed.
The reason for buying small SaaS businesses is that it's so hard to start anything from scratch. Even a business doing only $5,000 in MRR has validated something significant, and that makes the business valuable.
FE International has grown as a marketplace for buying and selling small-scale SaaS businesses. They likely see more deal flow than anyone in this segment of the market. Based on more than 50 SaaS sales, they've written an in-depth piece that you can use to understand what your SaaS business is worth.