Sorry for the late reply! Here's some more pictures. I'm just a DIY guy. This project is more than likely going to need a plumber. I'm just trying to get a good idea of what I'm looking at. I've replaced pex lines, faucets, ect but nothing to this degree.Yes, the valve obviously needs to be replaced. And you have galvanized water pipe that is suspect. As this is a new home for you, a survey of your water supply piping might be a good idea to see what other issues you may be facing in the future. More pictures upstream would help in providing additional guidance/suggestions.
There are several electrical wiring concerns in those pictures as well that you may want to look at a little closer.
The K&T wires ARE live. It has a outlet wired into to it about 3ft away.Like the knob and tube wiring in the picture that ends with 33? Hopefully that K&T section is not electrically active. If it is replace it, and if it isn't, at least cut the wires off it so that there is no question.
K&T wiring technology was common in the 1930s. The last time I encountered it personally was 1976. It was not a happy sight, as the cloth insulation was peeling off many sections of the wire. The only thing preventing a short was the air gap around the bare wire sections.
Yeah! Crazy I know. Any suggestions? Tips? Here's some more pics. Thanks again everyone for all the info.
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