Property Overview: 881 Mccalman Avenue, East Elmwood, Winnipeg
Key Characteristics & Buyer Profile
This one-and-a-half storey home, built in 1912, presents a classic Winnipeg character property with a practical foundation. Its key appeal lies in the balance between its modest, functional living space (898 sq. ft.) and its significantly larger-than-average lot (4,942 sq. ft.) for the immediate area. This combination offers potential for expansion, gardening, or outdoor living that is harder to find on newer, more densely packed lots. The home has an unfinished basement and no garage, positioning it as a straightforward, no-frills opportunity.
The property’s standout feature is its land value and potential. With an assessed value consistently well below area averages, it represents an accessible entry point into the housing market. It suits first-time buyers or practical investors comfortable with a home that requires updates. The appeal is less about move-in-ready perfection and more about securing a sizable parcel of land with a liveable structure—a canvas for personalization or future investment. A less obvious perspective is its potential for multi-generational living or a home-based business, where the large lot could accommodate additions or separate workspaces not feasible on standard lots.
Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
The assessed value reflects the home’s age, modest size, and condition relative to modernized or larger homes in the area. It primarily indicates the land value and the existing structure’s current market position as a value-priced property.
2. What does "one-and-a-half storey" mean for this home?
Typically, this style features a full main floor with a second level under a sloped roof, offering functional but potentially cozier bedrooms or storage space. It’s a common design for Winnipeg homes of this era.
3. Is the large lot a benefit for future expansion?
Potentially, yes. The lot size is above average for the street and neighbourhood, which could provide flexibility for additions, a garage, or landscaping projects, subject to local zoning and permit approvals.
4. How does the sale history inform the current price?
The home sold in 2017 and 2021 at very similar prices, suggesting a stable, value-based market for this specific property. This history can provide a benchmark, though current conditions and any changes will determine today’s value.
5. What should I consider about the unfinished basement?
An unfinished basement offers utility space and storage but may require attention to foundational integrity, moisture control, and basic systems. It represents both a cost-saving (as you’re not paying for finished upgrades) and a future project opportunity.