Property Overview
332 Rutland Street is a compact, one-storey home built in 1913, situated on a standard city lot in Winnipeg's King Edward neighbourhood. Its key appeal lies in its position as an accessible entry point into homeownership. The house itself is modest, with a living area of 692 sq ft that ranks below average for its street, neighbourhood, and the city. It features a basement and a detached garage. The assessed value is notably low, reflecting the home's size, age, and condition—the basement is noted as not being renovated. Recent sale prices indicate it has been a consistently low-value property in the market.
This property would suit a very specific buyer: a hands-on first-time purchaser or investor looking for a minimal financial entry point. Its low taxes and purchase price are the primary draws, ideal for someone willing to live simply and make gradual improvements, or for an investor considering it as a rental property. A less obvious perspective is its potential as a "holding property" – a way to enter a mature neighbourhood at a very low cost, with the future option to significantly expand or rebuild on the lot, which is a reasonable size for the area.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's specific characteristics: its small size (692 sq ft), its age (1913), and that it has not been renovated. It is assessed comparably to other very modest, older homes in its immediate area.
2. What does "basement, not renovated" typically imply?
This usually indicates a functional but unfinished or partly finished basement in original or utilitarian condition. Buyers should budget for potential updates to insulation, flooring, or moisture management to make it a more comfortable living or storage space.
3. Who would this house be a good fit for?
It is best suited for a budget-conscious first-time homebuyer comfortable with a compact living space, or an investor looking for a low-cost rental property. It is less suitable for those needing move-in-ready finishes or more room.
4. The sold price history shows a range. What does that mean?
The ranges are estimates based on public data. To obtain the exact historical sale prices for precise valuation, you must request the information directly via the provided email service.
5. How does the land size compare to the neighbourhood?
At 2,524 sq ft, the lot is around average for Rutland Street but below the average for the broader King Edward neighbourhood. It is a standard city lot, offering outdoor space and potential for additions or landscaping, but not an unusually large parcel.