In the process of buying it, we invited a small parade of building specialists and subcontractors to consult on its soundness and potential for improvements.
Repeatedly, the verdict was that "It has good bones."
I'll be posting more about the joys and perils of remodeling this stack of good bones with the same tag if you want to follow its development.
More on the subject:
Houzz article: 8 Signs Your House Has Good Bones
Kwika article: Look for a Home With Good Bones