Property Overview & Key Characteristics
This one-storey home at 216 Rutland Street presents a compact and efficient living space of 704 sqft, situated on a notably generous 4,036 sqft lot in Winnipeg's King Edward neighbourhood. Its primary appeal lies in its balance of a below-average price point with a land parcel that is larger than most on its street, offering potential for outdoor use or future expansion. The basement has been renovated, adding functional living space. Built in 1928, the home is a character property that has been maintained to a standard that keeps its assessed value competitive within its immediate area.
This property would suit first-time buyers or investors seeking an entry into the market with a manageable footprint and a lot that holds inherent value. It’s also a practical fit for those looking to minimize living space while still having private outdoor room, or for a buyer with a vision to eventually update or expand, leveraging the solid lot size. Its below-average citywide price makes it a budget-conscious option, but the decent lot size offers a less obvious advantage over many similarly priced properties.
Frequently Asked Questions
1. Is the living space too small?
At 704 sqft, the living area is below average for the city and even the local area. However, the renovated basement adds usable space, and the efficient layout of a classic one-storey may suit those looking to minimize upkeep and utility costs.
2. What is the significance of the lot size?
The 4,036 sqft lot is a standout feature, ranking in the top 25% on Rutland Street. This is significantly larger than many neighbouring properties and provides valuable outdoor space, a rarity for homes in this price range, and offers flexibility for gardening, recreation, or future projects.
3. How does the assessed value compare?
The assessed value of $26,900 is around the average for both Rutland Street and the King Edward neighbourhood, suggesting the property is priced in line with its immediate peers. Citywide, it's below average, indicating it represents a more accessible price point within Winnipeg.
4. What should I know about a house built in 1928?
While well-maintained, a home of this age will likely have character-building elements alongside the potential for older mechanical systems (like plumbing or wiring) that may require attention or updating. The solid lot size and renovated basement are positive updates on the original structure.
5. Are there recent sales to gauge value?
The last recorded sale was in October 2016, in the $21.5k-$24.5k range. The current assessed value suggests appreciation since then. For exact, recent sale prices of comparable homes to inform an offer, you would need to request that specific data.