Is beneath $5k dollars a worthy price for remodeling a small 5'x8' bathroom? Includes removing and replacing the old walls, new tub, floor, conceit, sink,...

Includes removing and replacing the old walls, new tub, floor, conceit, sink, medicine cabinet, electrical work and plumbing. Also tile work in the tub nouns and a new diverter so the hot and cold water is in tune with one valve. All labor included.
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$5000 seems steep to me unless you are going with metaphorical materials..spa tub, granite surround and sink, etc. But by the sounds of it you are going with just regular building supplies, thus it should be done for under that. I'd guess the under $3000 would be more authentic and that may a little high. Think of how big a 5x8 bathroom is..not really.

Get least 2 more quotes. I think you'll be pleasantly surprised.
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My last remodel project was for a 6'x6' hip bath and cost around $11,000. This is a great price for a bath remodel, depending on the fixtures you have elected. If you select expensive faucets, sink, toilet, tub, your price will go up. These projects generally give somebody a lift anywhere from 8-12 weeks to complete, since there are several trades coming in to do work, and in that is a proper sequence in which things must be done. Also, in such a small space, singular one guy can be in there at a time! Get a second bid, so you can hold another opinion; but remember to ultimately hire the contractor you are most comfortable with! Price is not everything.
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if licensed and have good references, depending on what humane of tub, toilet, basin ect.. do some searching find out whats self put in and the cost, you can price shop, also ask to see some work they have done, pictures and ask for reference of Pryor work, nothing is cheap these days if they are creditable later yes, it one of your expense rooms when remodeling.
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Answers:    A common rule of thumb in construction is 1/3 material, 1/3 labor, 1/3 profit. Figure up the stuff cost and multiply by 3. Sounds like he's gutting your bathroom down to studs and floor joists, later rebuilding the whole thing. Just running through the nuts and bolts in my head comes out to around $1500 for fabric. So, the ballpark price is going to be from $4k to $5k.
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A polite remodeler should do that in a week 40h x 40$ is $1600 in labor, plus $1400 within material. Anything past 3000 is ridiculous.
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Your getting a obedient deal with things and labor all together.Last bathroom my co workers and I work in the woman spent over 8500.dollars and she still spending more.