Property Overview
This one-and-a-half storey home on Mccalman Avenue in East Elmwood is a classic Winnipeg character home with practical potential. Built in 1913, it offers 1,140 sqft of living space, which is notably above average for both its immediate street and the East Elmwood neighbourhood. The property features a detached garage and a full, unrenovated basement, presenting a blank canvas for finishing. Its appeal lies in its relative spaciousness compared to local peers and its value-oriented entry point into the market, as reflected in its below-average assessed value. This home would suit a first-time buyer, an investor, or a handy purchaser comfortable with a property that offers good bones but likely requires updates and personalization. A thoughtful perspective is that while the home ranks below average in metrics like year built and land size for the city, it outperforms many of its direct neighbours in living space, suggesting it's a larger-than-typical offering on its block.
Frequently Asked Questions
1. What does the assessed value tell me about the listing price?
The assessed value is significantly below both neighbourhood and city averages, which typically indicates a lower property tax burden. It also suggests the home may be priced accessibly relative to the market, but the final listing price will also reflect current condition, market demand, and any updates not captured in the assessment.
2. The home is over 110 years old. What should I be most concerned about?
While charm and character are benefits, key focus areas for an older home like this include the condition of the foundation, roof, wiring, and plumbing. The presence of an unrenovated basement allows for a clear inspection of the home's underlying structure and systems.
3. The living area is above average for the area, but the lot size is smaller. What does this mean?
This indicates the home makes efficient use of its footprint. You're getting more interior space than is typical on Mccalman Avenue, but with a smaller yard to maintain. This can be a positive trade-off for those prioritizing indoor living space over extensive outdoor areas.
4. Who would this property not be ideal for?
It may not suit buyers looking for a move-in-ready, modernized home without any projects, or those seeking a large, sprawling yard. The unrenovated basement and older age imply a need for either acceptance of its current state or a readiness to invest in improvements.
5. How does the last sale price from 2020 relate to today's value?
The 2020 sale price provides historical context but is not a direct indicator of current market value. The local and national real estate markets have seen significant shifts since then. A current appraisal or comparative market analysis is essential to understand its present worth.