Charming Southampton Village Farmhouse Asking $5.495M Needs Updates

We believe this place has been used recently as a guesthouse or B&B. While it's very charming, with leaded glass and plenty of fireplaces, the whole first floor seems to be a mess of small, pointless rooms, with multiple parlors and sitting rooms, and the kitchen is long, narrow, and weird. It all needs renovating into something that makes a little more sense for today's families. On the plus side, there's a deep lot with 1.14 acres of land, including a pool, pool house and tennis court, along with mature trees and rolling lawns, and nice porches for relaxing. The house is spacious at 4000sf, with nine bedrooms and 6.5 baths. On the negative side, a house that needs this much work should be priced lower than $5.495M. What do you think of the place?

· Village Classic with Tennis [Sotheby's via HREO]