Property Overview: 1040 Mccalman Avenue, East Elmwood
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in East Elmwood presents a compelling blend of space, value, and potential. Its key characteristics include a renovated basement, a detached garage, and a notably generous lot of over 5,400 sqft—a standout feature that places it in the top 10-12% of the local area. With 912 sqft of living space, the house itself is comfortably sized for the neighborhood.
The appeal lies in its strong fundamentals and relative value. The home’s assessed value ranks significantly above average for both its street and East Elmwood, suggesting a solid investment in a stable community. The 1956 build date is also newer than many nearby homes, which can imply updates to core systems. The large yard is a major asset, offering rare space for gardening, play, or future expansion that is hard to find in more central locations.
This property would suit first-time buyers or downsizers looking for a manageable, single-level layout without sacrificing outdoor space. It’s also a practical choice for value-oriented investors or handy buyers who see potential in the sizable lot and the already-renovated basement, providing immediate rental income or family flex space.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The current assessed value is $31,600. The home last sold in October 2021 for $30,400, indicating assessed value is closely aligned with recent market activity.
2. Is the lot size typical for the area?
No, it’s a key advantage. At 5,442 sqft, the lot is larger than approximately 90% of those on Mccalman Avenue and 88% in East Elmwood, offering more private outdoor space than most comparable properties.
3. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. A professional inspection is recommended to determine the finish quality, legal compliance, and whether it includes a separate entrance or kitchenette.
4. The living area is below the city average. How does it feel for the neighborhood?
At 912 sqft, the home’s living area is actually near the average for East Elmwood. For this community, it is a standard, functional size. The renovated basement effectively expands the usable space.
5. The home was built in 1956. What should I consider?
While newer than many area homes, a house of this age will have older components. The updated basement is a plus, but attention should be paid to the age of the roof, windows, plumbing, and electrical systems during an inspection.