Great find. I learned to sew on a 301 and my mom still has it. She's offered it to me but I told her to keep it for now. They're great machines. Hope yours can be fixed for a reasonable price. You'll love sewing with it. I recently sewed on my mom's and it just hummed along even after sitting for at least 25 years not being used or oiled. I need to do some sewing on it next time I visit and plan to give the machine a good cleaning and oiling.