Property Overview: 274 Rutland Street, Winnipeg
Key Characteristics & Appeal
This 880 sqft, one-storey home on a 2,523 sqft lot is a classic example of a well-maintained, early 20th-century house in Winnipeg's King Edward neighbourhood. Built in 1918, its key updated feature is a renovated basement, adding functional living space. The home presents a grounded, no-frills opportunity: there is no garage or pool, emphasizing its value as an efficient, straightforward property.
Its primary appeal lies in its relative affordability and established location. The data shows its living area, assessed value, and year built are all around average for both Rutland Street and the broader King Edward area, indicating it's a typical home for this specific community. However, its size and value sit below the city-wide average, which can be an advantage for buyers seeking entry into the market without the premium of a newer, larger home. The renovated basement is a practical asset, offering potential for a family room, home office, or rental suite (subject to regulations).
This property would best suit first-time homebuyers, downsizers, or practical investors looking for a character home in a long-established neighbourhood without major renovation projects. It’s for someone who values location and function over modern luxuries, and who appreciates the statistical reality that this home is competitively positioned within its immediate peers rather than the city as a whole.
Frequently Asked Questions
1. What is the exact recent sold price history?
The available public data shows a sale occurred in November 2019 for an estimated range of $13.50k to $16.50k. For precise, verified sale figures, you can request the exact history via email from the listing source.
2. How does this home compare to others in the area?
The home is consistently around average for its direct neighbourhood. Its living space (880 sqft) and assessed value are typical for King Edward and Rutland Street, but its lot size is somewhat smaller than the area average, which is a trade-off for its central location.
3. What does the "renovated basement" entail?
The listing confirms the basement has been renovated, but specifics on finish quality, ceiling height, moisture control, and legal compliance (e.g., for a secondary suite) are not provided. These details would require an inspection and inquiry with the seller.
4. Is the assessed value the same as the market value?
No. The municipal assessed value for taxation purposes ($21.10k) is typically much lower than the current market value, as seen in the 2019 sale price range which already exceeded that assessment. Market value is determined by current sale prices of similar homes.
5. What are the implications of the home's age (1918)?
A 108-year-old home offers classic charm but requires diligent attention. While major systems like the basement have been updated, prospective buyers should budget for potential updates to other original components, such as plumbing, electrical wiring, or the roof, and ensure a thorough inspection is completed.