Property Overview & Appeal
This one-storey home at 265 Rutland Street presents a straightforward opportunity in Winnipeg's King Edward neighbourhood. Its key characteristic is a generous 4,231 sqft lot, which is notably larger than many on its street and in the immediate area. The house itself is modest at 690 sqft of living space, with an unrenovated basement and a detached garage, reflecting its 1946 build date. The assessed value is positioned around the average for the local market.
The primary appeal lies in the land itself. For the price point, buyers secure a sizable parcel in an established central neighbourhood, offering potential for expansion, gardening, or future redevelopment. It suits practical, value-oriented buyers such as first-time homeowners comfortable with a smaller living footprint, investors looking for a land-value play with existing rental income potential, or downsizers seeking a manageable home with outdoor space without a premium lot price. It’s a property where the long-term value may be more in what you can do with the land than in the current condition of the house.
Frequently Asked Questions
1. Is the house in move-in condition?
Based on the notation that the basement is "not renovated," the property likely requires updates and general maintenance. Buyers should budget for improvements and expect the character of an older home.
2. Why is the assessed value relatively low compared to the city-wide average?
The assessed value is benchmarked against similar homes in its specific area and street, where values are generally lower. It reflects the home's age, size, and condition within the local King Edward market, not the broader Winnipeg market where newer, larger homes dominate the average.
3. What are the possibilities for the large lot?
The above-average lot size is the standout feature. While subject to local zoning, it typically allows more flexibility for additions, creating extensive green space, or potentially adding a secondary structure (like a workshop or garage suite) where bylaws permit.
4. How does the sold price history work?
The listed sold price is an estimated range from public data. To obtain the exact historical sale price for this property, you must request it via email from the site. This is a manual process they provide to ensure accuracy.
5. How does this home compare to others on the street?
It ranks above average for lot size on Rutland Street but below average for living area. This indicates you're getting more land but less house than many neighbours, which is a crucial trade-off to consider based on your priorities.