Property Overview: 429 Rutland Street, Winnipeg
Key Characteristics & Appeal
This bi-level home at 429 Rutland Street presents a practical and modern opportunity in Winnipeg’s King Edward neighbourhood. Built in 2011, its key appeal lies in its relative newness compared to most area homes, suggesting fewer immediate concerns with major aging systems. With 884 sqft of living space, it offers a manageable footprint that is typical for the immediate street and neighbourhood, positioning it as a straightforward, no-fuss property.
The home’s assessed value of $290k sits above average for both Rutland Street and the broader King Edward area, indicating it is viewed as a higher-value property within its local context. However, it’s important to note the land area is smaller than most nearby lots. This creates a specific dynamic: you’re investing more in the modern structure itself than in the land it sits on. The appeal is for those seeking a newer, low-maintenance home in a central location without the larger yard upkeep. It would suit first-time buyers, downsizers, or investors looking for a modern property with predictable costs, who prioritize the condition of the building over expansive outdoor space.
A less obvious perspective is that this property represents a trade-off. You gain the benefits of a newer build (like contemporary insulation, wiring, and plumbing) but within a more compact lot setting. Its value is firmly anchored in the building's condition and modernity rather than land potential.
Frequently Asked Questions
1. Is the basement finished?
No, the basement is noted as existing but not renovated. This provides a blank canvas for future expansion or storage, but would require investment to become living space.
2. How does the assessed value compare to the last sale price?
The home sold in late 2016 for an estimated range of $235k-$265k. The current $290k assessment reflects a increase in value over that period. For the exact historical sale price, you can request the information directly via the listing page.
3. What does the "above average" assessed value but "below average" land area mean?
This highlights the property’s specific profile. The valuation is higher than many neighbours primarily because the house itself is significantly newer (2011 vs. an area average from the 1940s). The smaller lot size brings down the overall property metrics compared to city-wide averages, but locally, the modern home adds substantial value.
4. Is there parking or a garage?
The listing specifies there is no garage. Parking would be limited to driveway or street parking, which is common for the area given the smaller lot sizes.
5. Who would this home not be suitable for?
This property may not suit buyers looking for a large yard, extensive outdoor space, or a traditional character home. Its strengths are modern construction and manageability, not land size or historic charm.