Property Overview
This 908 sqft, one-storey home at 1062 Mccalman Avenue in East Elmwood presents a practical opportunity with one standout feature. Built in 1956, it features a renovated basement and a detached garage. Its living space is typical for the immediate street and neighborhood, but the property truly distinguishes itself with its land size. At 7,325 sqft, the lot is exceptionally large, ranking in the top 4% on its street and top 2% in East Elmwood. This generous outdoor space offers significant potential for gardening, expansion, or simply enjoying ample room in a city setting.
The home’s assessed value is above average for its local area, suggesting it is well-regarded within its specific market context. It last sold in early 2022. The appeal here is grounded in the balance between a modest, manageable home and a substantial, valuable parcel of land. It would suit a first-time buyer looking for a starter home with room to grow outdoors, a downsizer wanting a single-level layout with plenty of private yard space, or an investor who recognizes the long-term value of land in a mature neighborhood.
Frequently Asked Questions
Q: How does the living space compare to other homes?
A: At 908 sqft, it is close to the average for both Mccalman Avenue and the wider East Elmwood area. It offers comfortable, compact living typical of many one-storey homes from its era.
Q: What is the most notable feature of this property?
A: The land size is the most significant asset. The lot is over 7,300 sqft, which is considerably larger than most properties on the street and in the neighborhood, offering rare potential for a city home.
Q: The assessed value seems high for the street but low city-wide. Why?
A: The assessment reflects the home's value relative to its direct local market (East Elmwood and Mccalman Ave), where it ranks above average. The city-wide average includes much newer and larger homes in different market segments, making a direct comparison less meaningful.
Q: Is the renovated basement a full living space?
A: The listing confirms the basement is renovated, but does not specify if it is a legal suite or its exact finish. This would be a key point to clarify with the seller or a viewing.
Q: What does the sale history indicate?
A: The home sold in January 2022 for $250,000. Prior to that, it sold in 2019 for $22,500, which was likely a non-arms-length transaction (e.g., between family members) and not indicative of market value at that time. The 2022 price is the relevant recent market sale.