Property Overview
This well-situated one-storey home at 1098 Mccalman Avenue in East Elmwood presents a solid, value-oriented opportunity. Its key appeal lies in a desirable combination of above-average lot size and a recently renovated basement, all within a established neighbourhood. Built in 1957, the home itself is newer than many on its street and in the local area. With 1,037 sqft of living space and a generous 5,635 sqft lot, it offers room to grow or enjoy outdoor space—a notable advantage as the lot size ranks in the top 10% for East Elmwood. The detached garage adds practical storage or workshop potential.
The home would suit first-time buyers seeking a move-in-ready foundation with a renovated basement, or value-focused investors and homeowners who prioritize land size and location over a large interior footprint. Its above-average assessments for the immediate area suggest it is a well-regarded property on its street, offering a sense of relative stability and pride of ownership within its specific community context.
Frequently Asked Questions
1. How does the property’s value compare to the area?
The home’s assessed value is above average for both Mccalman Avenue and the wider East Elmwood neighbourhood, indicating it is a higher-value property within its local context. Citywide, however, the assessment is below average, highlighting the area’s overall affordability.
2. What is the significance of the lot size?
At 5,635 sqft, the lot is substantially larger than the average for both the street and East Elmwood (ranking in the top 9% locally). This is a major asset, providing extra privacy, yard space, and future potential not commonly found in similarly priced homes in the area.
3. The home was sold in October 2020. What does that sale price indicate?
It sold for $260,000. Market-wide rankings show this price was around the median benchmark citywide at that time, but was above the average sale price for the immediate area and street, reinforcing the property’s strong standing in its neighbourhood.
4. Is the basement development a full suite?
The listing confirms the basement is renovated, but does not specify if it is a legal, self-contained suite. Buyers should verify the renovation permits and the specific layout to understand its potential for rental income or extended family use.
5. How does the home’s age affect maintenance?
Built in 1957, the home is newer than many of its neighbours. While this can suggest updated infrastructure compared to pre-1950s builds, a home of this age will still require diligent maintenance and inspection of core systems like plumbing, electrical, and the roof.