Property Overview
This 760 sqft, one-storey home on Rutland Street in Winnipeg's King Edward neighbourhood presents a straightforward, value-oriented opportunity. Built in 1913, its key appeal lies in its renovated basement and a detached garage, offering functional space on a manageable 2,523 sqft lot. The home's assessed value is modest and aligns with averages for its immediate area, suggesting a lower entry point into the market. Its living space is compact, ranking below average for the city, which positions it as a practical, no-frills property rather than a spacious family home.
This house would suit first-time buyers seeking an affordable starter home, or an investor looking for a manageable rental property. Its smaller size and lower assessed value mean potentially lower property taxes and upkeep costs, appealing to those with a tight budget or a desire for minimal maintenance. A thoughtful perspective is that its below-average city rankings in size and value are actually its primary advantage, offering a foothold in the market without premium pricing, ideal for someone who prioritizes financial pragmatism and location over square footage.
Frequently Asked Questions
1. How does the home's size compare to others?
At 760 sqft of living area, this home is smaller than most in Winnipeg, ranking in the top 93% (meaning 93% of city homes are larger). It is more in line with, though still below, the average for the King Edward neighbourhood.
2. What does the assessed value indicate?
The assessed value of $22,500 is around the average for Rutland Street and the King Edward area, but is significantly below the citywide average. This typically suggests a lower property tax burden relative to most of Winnipeg.
3. What is the significance of the renovated basement?
A renovated basement adds functional living or storage space, which is a valuable asset in a smaller home. It effectively increases the usable area without increasing the official living area square footage or the assessed value proportionally.
4. Who might this property not suit?
Given its compact size and older construction (1913), it may not suit buyers looking for a modern, open-concept layout or a family requiring multiple bedrooms and ample living space. The lot size is also below average for the city, limiting expansive outdoor possibilities.
5. How recent are the comparable sales?
Public data shows a sale for this property in August 2023 in the $22.5k to $25.5k range. Exact sale prices require a direct request to the listing service, as they are not fully disclosed in public records.