Midcentury Cool or Money Pit?

You have to forgive me. I've walked through hundreds of homes and viewed many many thousands.  Because of this home saturation, I appreciate the qualities in a home that make it unique, and given my penchant for vintage and mid-century homes, I had to visit this new listing and wonder who its new owners will be.

The home was built in 1947, and obviously an architect designed place in the Vermont Hills area of SW Portland, situated beautifully on a half acre+ lot, a cross between NW regional and Eichler. The home is divided into two wings, which is interesting because the main wing holding the master and living room has a roof that breaks in the center and wings out to either direction. When you first enter the home through the other wing by the carport, where the kitchen, dining room and extra bedrooms lay immediately to the right. This architectural detail was often used in this era providing separation between the adults and children- unseen in todays layouts. To get to the living room and master, you pass through a long, dark entry hallway with clerestory windows that gently inclines for about 60 feet. Suddenly the huge living room opens up before you,  church-like with a massive vaulted ceiling with a floor to ceiling fireplace facing a floor to ceiling window. On either side of the fireplace double entries lead up to the master and office, with a wet bar on the back side of the fireplace. Of course, this makes sense- who wants to carry a martini up that hallway?

The living room is a fabulous entertaining area that is begging for some great multiple lighting fixtures- various Nelson lamps? The tiny slider's scale seems off, but it opens to a great patio. Some of the materials used were not the best quality (the sheathing under the eaves is falling apart), but others, like the organic tile in a shower and by the copper fireplace are first rate.

The kitchen and dining area need a re-design- I'm positive this architect was not a cook, but the shared space could translate to intimate dinners for 12 as the dining area is generous but cozy.

The home is sold as-is with 3,300 square feet which may not include additional square footage below grade. Could still be priced high for the condition at $339,000.  You tell me, masterpiece or money pit? I'll tell you, I wish I could remodel it myself. More photos.