Property Overview
This 770 sqft, one-storey home at 920 Mccalman Avenue in East Elmwood presents a distinct profile. Built in 2009, it is a notably modern property in a neighborhood of mostly older homes. Its key appeal lies in being a low-maintenance, contemporary dwelling without the premium price tag often associated with new construction. The home features a renovated basement, adding functional living space. While its living area is compact compared to local averages, this is balanced by a very low property tax assessment, suggesting ongoing affordability. The lot is a manageable size for minimal upkeep.
It would suit first-time buyers seeking a move-in-ready, modern home without a massive mortgage, or downsizers looking for a single-level layout and newer systems to avoid major repairs. Investors may also be interested due to the attractive assessed value for rental purposes.
Key Details & FAQs
- Living Space: 770 sqft bungalow with a renovated basement.
- Lot Size: 3,337 sqft.
- Year Built: 2009.
- Last Sale: July 2023 for $290,000.
- 2024 Assessed Value: $29,800.
1. Why is the assessed value so much lower than the recent sale price?
Assessed value in Manitoba is primarily for municipal tax purposes and is not intended to reflect market value. A low assessment is a significant benefit, as it translates to lower annual property taxes compared to similar homes sold at market rates.
2. Is the living space too small?
At 770 sqft above grade, the home is compact. However, the renovated basement effectively doubles the usable living area, making it practical for individuals, couples, or small families. Its efficiency encourages a simpler lifestyle with lower utility costs.
3. What does it mean that the home is "Elite" for its year built?
This statistic highlights that a 2009 build is exceptionally new for East Elmwood, where most homes were built in the mid-20th century. Buyers gain the advantages of modern construction standards, materials, and likely newer major components like wiring, plumbing, and windows.
4. There's no garage. Is parking an issue?
The property does not include a garage. Buyers should verify on-street parking regulations and availability. For some, the trade-off of a lower purchase price and no garage maintenance is acceptable, especially with a newer vehicle less susceptible to winter weather.
5. The home sold recently in 2023. Is that a concern?
A quick resale can signal various things. It's important to inquire why. It could be due to a change in the owner's personal circumstances, an investor exiting, or simply a successful assignment sale. A title search and a frank discussion with the selling agent can provide clarity.