Property Overview
This two-storey home at 262 Rutland Street in Winnipeg's King Edward neighbourhood presents a specific and compelling value proposition. Built in 2016, it is a notably modern property within a historic area. With 1,340 sqft of living space, it offers above-average roominess for both its street and neighbourhood, while its assessed value is also above local averages. The lot size is more compact compared to city-wide norms, but typical for the central area. The basement exists but is unrenovated, and the property does not include a garage or pool.
Key Characteristics & Appeal
The primary appeal of this home lies in its balance of modern construction and established location. As a house built just 10 years ago, it offers contemporary building standards, energy efficiency, and minimal immediate maintenance worries in a mature neighbourhood. Its living space is generous for the area, providing more room than many neighbouring properties without the footprint of a large lot to maintain. This combination suits buyers looking for a "lock-and-leave" simplicity or those who prefer to avoid the surprises and renovation projects often associated with older character homes.
The property would be an excellent fit for first-time homeowners seeking a turnkey property, small families who value indoor space over extensive yard work, or investors attracted by a newer asset in a stable area. Its above-average metrics on Rutland Street and within King Edward suggest it is a standout property in its immediate context, offering a sense of relative value and modernity that is less common there. A thoughtful perspective is that the compact lot isn't just a compromise; for the right buyer, it translates to lower exterior maintenance and more efficient use of space, aligning with a simpler, more urban lifestyle.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average home value?
This is typical for older, central neighbourhoods like King Edward. Assessed values here are generally lower than in newer suburban areas, reflecting different market conditions, lot sizes, and home ages. The key takeaway is that this home's assessment is above average for its specific street and neighbourhood.
2. What does "basement, not renovated" mean?
It indicates the basement is unfinished or in a basic, utilitarian state. It provides valuable storage or mechanical space and has future potential, but it is not a developed living area like a rec room or suite.
3. How does the 2016 build year impact insurance or utilities?
Newer construction often leads to lower home insurance premiums due to modern electrical, plumbing, and roofing. Utility costs, particularly heating, may also be more efficient compared to the neighbourhood's older housing stock.
4. Is street parking a concern without a garage?
This is an important consideration for this property. Buyers should assess on-street parking availability on Rutland Street, especially during winter parking bans. The lack of a garage is common for the area but requires a practical adjustment.
5. The sold price history shows a sale in 2016. Is that the original sale?
Most likely, yes. Given the home was built in 2016, the recorded sale in August 2016 is almost certainly its first sale from the builder or developer to the first owner.