Property Overview
This 1953 one-storey home at 359 Rutland Street in Winnipeg's King Edward neighbourhood presents a practical and straightforward opportunity. With 888 square feet of living space and a recently renovated basement, it sits on a 3,775 sqft lot. Its assessed value of $260k positions it as an affordable entry point within the city, particularly for the area. Recent sales data indicates activity in the mid-$200k range. The home lacks a garage or pool, emphasizing its value as a functional, no-frills property.
Key Characteristics & Appeal
The primary appeal of this property is its value and manageability. It is not the largest or newest home, but its metrics are consistently average or better for its immediate street and neighbourhood, suggesting it fits well within the local context. For its price, you get a solid lot size and a home that is newer than many on the block. The renovated basement adds functional living space, a significant plus.
This home would suit first-time buyers seeking an affordable foothold in Winnipeg, or downsizers looking for a single-level living option without a large yard to maintain. Its appeal is grounded in practicality rather than luxury—it’s a home for someone comfortable with a classic, modest layout who values financial accessibility and a stable, established community over modern amenities or high-end finishes. A less obvious perspective is that a home ranking "around average" in its immediate area can represent a lower-risk purchase, as it is less likely to be over- or under-valued compared to its direct peers.
Frequently Asked Questions
1. How does this home's value compare to others in Winnipeg?
City-wide, this home's assessed value and living area are below the Winnipeg average, which is typically skewed by newer, larger suburban homes. This highlights its position as a more affordable, central option.
2. What does the "renovated basement" include?
The listing notes a renovated basement but does not specify the scope. Buyers should inquire about the permits, quality of finish, and whether it includes a separate entrance or legal suite potential.
3. Is there potential to add a garage later?
With a lot size that is above average for the street, there may be space to add a garage or parking structure, subject to local zoning bylaws and setback requirements.
4. What is the typical property tax for an assessment of $260k?
Property tax can be estimated by applying the current City of Winnipeg mill rate to the assessed value. Your real estate agent or the city's website can provide the exact calculation.
5. The sold price history shows a range. How can I get the exact figure?
The exact sold price is available by request from the listing source. You can provide your email to receive the precise figure, as this data is not always disclosed in public records.