Property Overview
This 802 sqft bi-level home at 725 Mccalman Avenue in East Elmwood presents a specific and practical value proposition. Built in 2000, it is a notably newer construction compared to most homes in its immediate area and across Winnipeg. Its key appeal lies in this modern foundation paired with a renovated basement, offering move-in-ready potential without the immediate concerns of an aging structure. The detached garage adds functional convenience.
While the living space is compact relative to area averages, the property’s assessed value ranks highly for the street and neighbourhood, suggesting it is viewed as a solid asset within its local market. The lot size is typical for the area. This home would suit first-time buyers, downsizers, or practical investors seeking a low-maintenance, modern property in a well-established neighbourhood without a premium city-wide price tag. It’s a home that trades square footage for newer systems and updates.
Frequently Asked Questions
Is this home actually a good value given its smaller size?
The data suggests it is perceived as a strong value within East Elmwood itself, ranking in the top 25% for assessed value in the neighbourhood. You are paying more for the modern year of construction and renovated condition than for sheer space.
What does the sale history indicate?
The home sold for $340,000 in August 2022, which was a top-tier price for the street at that time. This indicates strong recent market confidence. Prior to that, it sold for a significantly lower price in 2016, reflecting substantial appreciation over a six-year period.
How does the “newer build” impact living here?
A 2000 build date in a neighbourhood of mostly mid-century homes means potentially greater energy efficiency, updated wiring and plumbing standards, and less likelihood of major foundational or envelope repairs in the near term compared to older stock.
Who might this layout not suit?
The bi-level design with basement living space may not be ideal for those with significant mobility concerns. The below-average living area also means storage and room for a growing family could be limited.
Are the property taxes likely to be high?
The assessed value is high for the local area but below the Winnipeg city average. Property taxes would likely reflect this, being proportionally higher than many neighbouring older homes but potentially lower than for a similarly valued home in a more expensive city-wide district.