Property Overview: 796 Mccalman Avenue, East Elmwood
Section 1: Key Characteristics & Appeal
This one-storey home on Mccalman Avenue presents a unique profile. Its key characteristic is a recently renovated basement, adding modern living space to a 768 sqft main floor. Built in 1961, it is notably newer than many homes in the immediate area and East Elmwood overall. The lot is a manageable 3,294 sqft, and the property includes a detached garage.
The appeal lies in its value proposition and practicality. The home ranks highly for its assessed value within its neighbourhood, suggesting it may offer good value relative to other East Elmwood properties. The renovated basement immediately adds functional space without the need for a major project. It suits first-time buyers seeking an entry point into the market with some updates already done, or investors looking for a manageable rental property. A less obvious perspective is that its smaller lot and living area, while below area averages, translate to lower maintenance and utility costs—a practical advantage for those seeking simplicity and efficiency.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to the recent sale price?
The home sold for $15,500 in November 2024, which is significantly lower than its current assessed value of $29,700. It's important to consult with a real estate professional to understand the reasons for this discrepancy and what it means for current market value.
2. Is the living space too small?
At 768 sqft above grade, the main living area is compact. However, the renovated basement provides additional finished space, effectively increasing the usable square footage. Buyers should verify the quality and permits for the basement renovation.
3. What does the "newer" build year mean for this home?
Built in 1961, this house is over a decade newer than the average home on its street and in East Elmwood. This could imply updated building materials or systems for its era, but a thorough inspection is still essential to verify the condition of the roof, wiring, and plumbing.
4. Who is responsible for the detached garage's maintenance?
The detached garage is a valuable asset for parking and storage. As a separate structure, its maintenance (e.g., roof, doors, foundation) is the sole responsibility of the homeowner, which should be factored into long-term upkeep planning.
5. What is the neighbourhood like?
East Elmwood is an established neighbourhood. The nearby property listings on Mccalman Avenue show a mix of ages and assessed values, indicating a diverse streetscape. Prospective buyers should visit at different times to get a feel for the area's character and traffic.