Property Overview & Key Characteristics
This one-storey home at 365 Rutland Street in Winnipeg's King Edward neighbourhood is a compact, character property built in 1914. With 720 sqft of living space and a renovated basement, it sits on a modest 2,517 sqft lot. Its assessed value is notably lower than the city-wide average, positioning it as an accessible entry point into the market.
The appeal lies in its practicality and potential. The renovated basement adds functional living space, increasing the utility of the smaller main floor. While the home is below average in size for its street, area, and the city, this translates to lower property taxes and manageable upkeep. Its assessed value is around average for its immediate vicinity, suggesting it's priced in line with the local market rather than being an outlier.
This property would best suit first-time homebuyers or investors seeking a straightforward, no-frills asset. It's a realistic option for those prioritizing location and getting a foothold in homeownership over spaciousness. The smaller scale also makes it a candidate for those looking to downsize without leaving the community. A thoughtful perspective is that a home of this vintage and size on a smaller lot offers a simpler, more efficient living arrangement with a reduced environmental footprint and lower maintenance costs compared to larger, newer builds.
Frequently Asked Questions
1. Is the sold price history provided exact?
No, the listed sold prices are ranges based on public data. You can request the exact sold price history by emailing the listing service, which provides the information manually without unsolicited marketing.
2. How does the home's size compare to others?
At 720 sqft, the living area is below the average for similar homes on Rutland Street, in the King Edward area, and across Winnipeg. This indicates a more compact living arrangement.
3. What does the "below average" land area mean for me?
The lot size of 2,517 sqft is smaller than most in the area. This typically means less outdoor maintenance but also limited space for expansions, large gardens, or additions, which is an important consideration for future plans.
4. The home was built in 1914. Should I be concerned?
While the age indicates potential for character, it also necessitates a thorough inspection for foundational integrity, wiring, plumbing, and insulation to understand any needed updates or ongoing maintenance specific to century-old homes.
5. Why is the city-wide assessed value comparison so different?
The assessed value is around average for King Edward but below the Winnipeg average because city-wide data includes many newer, larger homes in suburban areas. This highlights the property's affordability within an established central neighbourhood.