Property Overview
212 Rutland Street is a compact, one-storey home built in 1929, situated on a standard city lot in Winnipeg's King Edward neighbourhood. Its key appeal lies in its affordability and renovated basement, presenting a low-maintenance entry point into the market. The home is notably smaller than average in both its immediate area and city-wide, making it a practical, no-frills option.
Key Characteristics & Ideal Buyer
This property is defined by its modest 696 sqft living area, which is below average for the street, neighbourhood, and city. Its assessed value (~$24,600) is typical for the local area but sits well below the wider Winnipeg average, indicating a significant value opportunity within its specific market context. The renovated basement adds functional living space, a key asset given the home's smaller main floor footprint. There is no garage, and the lot is a manageable 3,027 sqft.
The primary appeal is financial accessibility. It suits first-time buyers or investors seeking a straightforward, lower-cost property with recent updates (the basement). It would also fit someone looking to minimize living space and associated costs, such as a downsizer. A less obvious perspective is its potential as a "foot-in-the-door" property in a central neighbourhood, allowing an owner to build equity without a large initial outlay. Its very average rankings on the street for value, year built, and lot size suggest it is a typical, unassuming property for the block, unlikely to be over-improved for the area.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Assessed values are relative to similar properties in specific areas. This home's value is typical for King Edward and Rutland Street, reflecting the local market conditions. The city-wide average is pulled much higher by newer, larger homes in different neighbourhoods.
2. What does "renovated basement" likely include?
While specifics should be verified, a renovated basement in a home of this era and size typically means finished living space, possibly including a recreational room, additional bedroom, or basic living area, which crucially adds to the functional square footage.
3. Who would this small home best suit?
It's ideal for a first-time buyer, an investor, or someone downsizing. The modest size means lower utility costs and less maintenance, but it may feel cramped for a growing family or anyone needing significant storage or workspace.
4. How does the lack of a garage affect practicality?
Street parking is the norm here. Buyers should consider their comfort with this, especially during Winnipeg winters, and assess on-street parking availability during a viewing.
5. The home sold recently in 2023. What does that indicate?
The recent sale suggests a motivated seller may have been involved, but it also provides a very current market price point for comparison. It’s useful to know the property is turning over in the current market climate rather than having been held long-term.