Windows - Refurbish or Replace?

[Jennifer Lulofs]

Hi, 

I recently closed on a SFH in northwest Denver that was built in 1898.

In general the home is in good condition with the most notable exception being the windows. All the windows are wood, single pane and original to the house (typical, and even desirable for the area).  The are is not designated as a historic district, but has many homes with historic character.

The street facing picture window is in good shape and it is important to the character of the house. Every other window has some issue, one needs to be restrung, one has a cracked pane, a few show signs of rot, all but one is missing a screen and, because they are single pane, they are definitely not energy efficient. 

The house will be used as a rental - in fact we qualified a great tenant the day after we closed and they have already moved in.  

I would welcome thoughts on whether you would be more likely to refurbish, or replace the windows, and would be grateful for any recommendations on companies/contractors.

Thank you!

Jen