Property Overview
This 1994 bi-level home at 767 Mccalman Avenue in East Elmwood presents a practical, low-maintenance opportunity. Its key appeal lies in its relative modernity compared to much of the local housing stock, offering a renovated basement and a structure that is decades newer than many neighbours. With 771 sqft of living space, it is compact and efficient, suited for a first-time buyer, downsizer, or investor seeking a straightforward, entry-level property. The below-average lot size (3,157 sqft) translates to minimal yard upkeep, which can be a benefit for those prioritizing indoor space and ease of maintenance over outdoor space. The home’s assessed value is squarely in line with the local area average, suggesting a stable, no-surprises investment in a well-established neighbourhood. It’s a property for someone who values a newer build date and a turn-key basement over square footage or a large yard.
Frequently Asked Questions
1. How does the home’s size compare to others?
At 771 sqft, the living area is below the average for East Elmwood, the street, and the city. This indicates a more compact, efficient layout suited for individuals, couples, or those comfortable with cozy spaces.
2. What does the “above average” year built mean for me?
Built in 1994, the home is significantly newer than most in the area (where averages date to the early 1950s). This can suggest updated building materials, potentially fewer major system replacements in the near term, and a design more aligned with modern living than older character homes.
3. Is the assessed value a good indicator of the sale price?
The home recently sold for $25,900k, which is close to its $24.30k assessed value. In this case, the assessment was a fairly accurate benchmark, indicating a market transaction that aligned closely with the city’s valuation.
4. The lot size is noted as “below average.” How significant is this?
The lot is smaller than most on the street and in the city. For buyers, this means less yard maintenance and potentially a more private streetscape with homes closer together. It’s a trade-off: less outdoor space for potentially lower upkeep effort and cost.
5. Who would this property suit best?
It’s an ideal fit for a pragmatic buyer: a first-time homeowner wanting a newer, manageable property without major renovation needs; someone downsizing who prefers a renovated basement for guests or hobbies without a large yard; or an investor looking for a relatively modern rental property with lower perceived maintenance risks compared to a century-old home.