Property Overview
This one-storey home at 210 Rutland Street is a compact, century-old property that presents a specific value proposition. Its key appeal lies in its very low municipal assessed value and a land area that is generous for its immediate street and neighbourhood. With a living area of 530 sqft, the house itself is notably smaller than most homes in Winnipeg, positioning it as a minimal-maintenance structure. The property includes a detached garage and an unrenovated basement.
Its primary suitability is for value-driven buyers seeking an entry point into the King Edward neighbourhood with a focus on the land. It would appeal to an investor or handy purchaser viewing the existing structure as a candidate for significant expansion or eventual replacement, given the lot size is above average for the area. The low annual property tax burden, inferred from the low assessment, is a clear financial advantage. It is less suited for those seeking move-in-ready space or modern amenities without undertaking substantial projects.
Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average?
The assessed value is primarily based on the property's market characteristics. The very small size and age of the living structure, coupled with the unrenovated condition, result in a low assessment compared to the average Winnipeg home, which is larger and often newer.
2. Is the house livable in its current state?
While the home provides basic shelter, the listing notes the basement is unrenovated. Prospective buyers should budget for updates and consider a thorough inspection, typical for a house built in 1918, to assess the condition of major systems.
3. What are the real costs beyond the purchase price?
The major cost consideration is the investment needed to modernize or expand the small living space. However, a positive offset is the likely lower annual property tax bill due to the low assessed value, which can be a significant long-term saving.
4. How does the lot size compare to nearby properties?
The 4,036 sqft lot is a standout feature, ranking above average for Rutland Street. This provides more outdoor space and future potential than many neighbouring properties, which is a key factor to weigh against the home's small footprint.
5. What is the neighbourhood like?
King Edward is an established, central Winnipeg neighbourhood. The "Nearby properties" list shows closely spaced homes, indicating a traditional, dense urban streetscape. Buyers should explore the area to gauge its fit for their lifestyle.