Property Overview
This 2005-built bi-level home at 374 Rutland Street offers a practical, low-maintenance living option in Winnipeg's King Edward neighbourhood. Its key appeal lies in its modern age relative to the area, featuring a renovated basement and a detached garage. With 906 square feet of living space, it sits around the average for both its immediate street and the broader King Edward area, making it a comfortably sized home for individuals, couples, or small families.
The property stands out for its above-average assessed value within its local context, suggesting it is well-maintained or offers features valued above neighbouring homes. However, the land size is notably smaller than typical lots in both the neighbourhood and the city, which translates to less yard upkeep but also less private outdoor space. This combination of a newer, updated home on a compact lot makes it particularly suited for first-time buyers, downsizers, or investors seeking a modern property without the maintenance demands of a larger yard or an older structure. Its value proposition is efficiency and modernity over expansive square footage.
Frequently Asked Questions
1. How does the home's age compare to others in the area?
Built in 2005, this home is significantly newer than the neighbourhood average, which consists mostly of homes built in the mid-1940s. This typically suggests fewer major maintenance concerns related to aging infrastructure.
2. Is the lot size a disadvantage?
The land area is smaller than most in King Edward and Winnipeg overall. This is a advantage for those seeking minimal yard work but could be a limitation for buyers wanting extensive gardening, play space, or future additions.
3. The assessed value seems high for the street. Why?
The assessment is above average for both Rutland Street and King Edward. This often reflects the home's newer construction, renovations, and overall condition compared to the older housing stock that dominates the area.
4. What does the sold price history indicate?
Public data shows a sale in late 2017 in the $27.5k-$30.5k range. It's important to note this is a historical figure and does not reflect current market value. The significant gap between that past sale price and the current assessed value underscores major market shifts or substantial improvements made to the property.
5. Who would this property not suit?
It may not be ideal for buyers needing substantial indoor living space (as it's below the city average) or those desiring a large, traditional yard. It is best matched with pragmatic buyers who prioritize modern systems and efficient use of space over sheer size.