Property Overview: 306 Rutland Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1947, situated on a notably generous lot in the King Edward neighbourhood. With 672 sqft of living space, the home is significantly smaller than both local and city-wide averages, positioning it as a true starter home or a downsizing opportunity. Its key practical feature is a renovated basement, adding functional space. The property’s standout characteristic is its 4,240 sqft land area, which is well above average for Rutland Street and offers valuable outdoor space or future potential in a mature area.
The appeal here is grounded in affordability and lot size. It suits a specific buyer: a first-time purchaser comfortable with a modest footprint, an investor looking for a land-value play with existing rental income potential (given the basement suite), or someone seeking a lower-maintenance property with a surprisingly large yard for gardening or expansion. Its assessed value is consistently around the average for its immediate area, suggesting a stable, no-frills entry point into the market. The recent sale history indicates steady, modest appreciation in line with its peer group.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify if it is a legal, secondary suite. This is a crucial point for verification with the seller or city records, especially for buyers considering rental income.
2. Given the home's smaller size, what is the condition of the main living areas?
The data highlights the basement renovation and lot size, but not the condition of the primary 672 sqft main floor. Buyers should focus inspections here, as updates to essential systems (roof, wiring, plumbing) in a 1947 home could be a significant factor.
3. How does the low assessed value compare to likely selling price?
The assessed value is around $24,600, which is for municipal tax purposes. Recent sold prices (2022-2024) for this property ranged from the low to mid-$200,000s. The selling price is market-driven and will be substantially higher than the assessed value.
4. What does the "below average" living area ranking mean practically?
Ranking in the bottom 7% city-wide for size means this is one of the smaller single-family homes in Winnipeg. Daily life will require efficient use of space and creative storage solutions. The large lot partially compensates by offering outdoor "rooms."
5. Are the recent sold prices for this exact property reliable?
The listed price ranges are based on public data estimates. For exact, verified sale figures, you must request the information directly from the listing service, as noted on the detail page.