Property Overview
This 2022-built, two-storey home at 225 Rutland Street in Winnipeg's King Edward neighbourhood offers modern living in a well-established area. With 1,502 sqft of living space, it ranks in the top tier for size and assessed value compared to its immediate street and neighbourhood. The home features a renovated basement but does not include a garage or pool. Its standout characteristic is its new construction in a neighbourhood of mostly older homes, providing a move-in-ready condition without the typical maintenance concerns of a historic property.
Key Characteristics & Appeal
The primary appeal of this property lies in its combination of modern build quality and a central location. It ranks in the elite top 5% on its street and top 2% in King Edward for its 2022 construction year, meaning it is a notable exception in an area of homes averaging 75+ years older. This translates to contemporary building standards, energy efficiency, and minimal immediate repair needs. The living area is significantly above average for both the street and neighbourhood (top 7% and 4%, respectively), offering more spacious interiors than most nearby comparable homes.
Its assessed value is also exceptionally high for the area (top 1% in King Edward), which reflects its modern amenities and condition but is an important factor for property taxes. A thoughtful perspective is the trade-off: the lot size is below average (top 85% in the neighbourhood, meaning only 15% of lots are smaller), which means minimal exterior upkeep but limited private outdoor space. This home would perfectly suit a buyer seeking a modern, low-maintenance home in a central location without wanting a renovation project. It would also appeal to those who value newer mechanical systems and insulation but want to be part of an established community rather than a new suburban subdivision.
Frequently Asked Questions
1. Why is the assessed value so high compared to neighbouring homes?
The assessed value ($48.80k) ranks in the top 1% for the King Edward neighbourhood because it is a new construction (2022) home. Assessment considers the property's modern condition, materials, and systems, which are superior to the area's typical century-old homes.
2. What does the "below average" ranking for land area mean for me?
The lot is 2,520 sqft, which is smaller than most in the area. This means a more manageable yard with less maintenance but potentially less privacy and limited space for additions, large decks, or gardening compared to neighbours.
3. The home sold in 2022; is it being resold so soon?
Based on the provided data, the home was last sold in April 2022. Its current listing suggests it is a relatively quick resale, which may be due to the owner's personal circumstances rather than a property issue, given its new condition.
4. There's no garage; is street parking readily available?
The property has no garage. Parking would be reliant on street parking, which is common in central neighbourhoods like King Edward. Prospective buyers should visit at different times to assess typical parking availability.
5. How does the living area compare to a typical new home in Winnipeg?
At 1,502 sqft, it is above average for its specific street and neighbourhood but is slightly above the city-wide average for all homes (1,342 sqft). For a brand-new 2022 build, this is a comfortable family-sized space, though some newer suburban builds may offer larger footprints.