Property Overview

This 808 sqft one-and-a-half storey home on Mccalman Avenue in East Elmwood is a classic Winnipeg character home built in 1930. It sits on a 3,294 sqft lot and features a detached garage and a basement that is present but not renovated. The home sold recently in May 2024 for $200,000.

Its key appeal lies in its position as an affordable entry point into the market, particularly for a stand-alone house with its own lot. The numbers tell a clear story: its living space, land size, and assessed value are consistently below the averages for its street, neighbourhood, and city. This isn't a move-in-ready showpiece, but a solid foundation. It suits first-time buyers, hands-on investors looking for a rental property, or practical purchasers who value land ownership over square footage and are prepared for a home that may require updates over time. A thoughtful perspective is that a smaller, older home on a modest lot can mean lower utility costs, manageable maintenance, and a smaller physical and financial footprint—freeing up resources for renovation or lifestyle.

Frequently Asked Questions

1. What does "below average" in the rankings actually mean for a buyer?
It primarily indicates value and opportunity. For metrics like living area and year built, it confirms this is a smaller, character home, not a modern, spacious one. For assessed value, being below average suggests the property is likely taxed at a lower rate than many others, which is a ongoing cost advantage.

2. The basement is noted as "not renovated." What should I expect?
This typically means the basement is unfinished or in a rough, original state. It presents potential for future living space, storage, or utility area, but any development would require investment and proper permits, especially regarding moisture control and ceiling height in an older home.

3. Who might this property not be suitable for?
It may not suit buyers who need significant move-in-ready space, as the living area is compact. It's also less ideal for those unwilling to take on projects, as the basement condition and age of the home likely imply a need for proactive maintenance or gradual updates.

4. The sold price is higher than the assessed value. Is that normal?
Yes, especially in a active market. Municipal assessed value for taxation purposes often lags behind current market values. The sale price of $200,000 reflects what a buyer was recently willing to pay under market conditions.

5. What are the less obvious costs or considerations with a home from 1930?
While charm and structure can be excellent, prospective buyers should budget for and investigate age-related systems. This includes the condition of wiring, plumbing, the foundation, and the roof. The potential for knob-and-tube wiring or original galvanized plumbing should be a specific focus for a home inspection.