This seems to be a baby monitor used for an old folks' home or to monitor an invalid neighbor or elderly family member. I did some more listening today with a better antenna. Previously I was using a 1/4 wave VHF antenna tuned for the 140-160 MHz region, today I used a ProComm JBC1500 60" base-loaded CB antenna tuned for just below CB channel 1, 26.6 MHz or 26.7 MHz or so, as a 1/4 wave. That makes almost a half wave at 49 MHz....and what a difference that made. I could hear the 49.830 MHz signal nearly full scale for 1500+ feet in all directions, extending out to 3000 feet or so before the signal completely dropped off.
I also was able to listen to it on a purpose-built 49 MHz FM walkie talkie - specifically a Maxon PC-50 (same thing as a RadioShack / Realistic TRC-512) 5-channel 49MHz handheld, with 49.83 MHz as Channel A. I got took two more videos:
49.830 MHz FM range testing part 1 -
https://youtu.be/BOfuappHakw 49.830 MHz FM range testing part 2 -
https://youtu.be/KYPXazfNeMk