I think mowing is closer to .3 cents per gross dollar. Applications would be sold at a premium. Not counting equipment.
Your situation might be different. Could your 2 guys run the routes alone and the owner still take a nice cut of what's left.
I'd pay 120-130k. A lot would depend on how long you'd had some customers and what other services you've included or don't include. If you do 200k in mowing only then I might be able to upscale apps and seeding.