Property Overview: 253 Rutland Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in King Edward presents a distinct value proposition centered on its land and location. Built in 1946, the 775 sqft house is modest in size, ranking below average for living space both on its street and within the wider city. However, its key strength is the generous 5,038 sqft lot, which is significantly larger than most in the immediate area, placing it in the top 7% on Rutland Street. The home features a renovated basement and a detached garage.
The primary appeal lies in this land potential. For the price, buyers are acquiring a sizable parcel in an established neighbourhood—a canvas for expansion, gardening, or future redevelopment. The assessed value is notably strong for the local area, suggesting the property is well-regarded relative to its peers. It suits practical buyers looking for an entry point into the market who value outdoor space over a large existing footprint, or investors considering the long-term value of the lot itself. It’s a property where the value is arguably more in the dirt than the dwelling, ideal for someone with renovation or expansion plans.
Section 2: Frequently Asked Questions
1. Is the house too small for a family?
While the current living area is below the city average, the renovated basement provides additional space. The large lot also offers unique potential to expand the home in the future, which many smaller lots in the area cannot accommodate.
2. Why is the assessed value higher than many neighbours?
The assessment likely reflects the combined value of the structure and, importantly, the substantial lot size. A larger, developable lot in an established neighbourhood typically carries a premium, even if the home itself is modest.
3. What is the neighbourhood like?
King Edward is a long-established, central Winnipeg neighbourhood. The property’s metrics show it is very typical for the area in terms of age and assessed value, indicating a stable, mature community.
4. How does the sold price history help?
The past sold price ranges provide a benchmark for market trends. Showing sales in 2017 and 2020, they allow you to gauge appreciation over time. For the most precise historical data, you can request the exact figures via email.
5. What are the main trade-offs with this property?
You are trading immediate interior square footage for land size and potential. The home requires a vision for utilizing the large lot, whether for outdoor living, storage, or future home improvements. It is a property that rewards a long-term perspective.