Property Overview: 207 Rutland Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home on a 4,033 sqft lot in King Edward presents a practical and well-positioned opportunity. Its key characteristic is solid value within its immediate context. With 1,166 sqft of living space and a renovated basement, it offers more room than many comparable homes on its street and in the neighbourhood. Built in 1986, it is a notably newer construction than most in the area, which can suggest updated infrastructure and fewer immediate maintenance concerns compared to century-old homes.

The appeal lies in its strong local standing. The property ranks above average for living area, assessed value, and year built both on Rutland Street and within the wider King Edward neighbourhood. This indicates a home that likely offers better-than-typical modern comforts and perceived value for this specific community. The detached garage adds functional utility.

This property would suit a pragmatic buyer looking for a straightforward, move-in-ready home in a central Winnipeg neighbourhood without the complexities and potential costs of a much older heritage property. It’s also a sensible fit for those who prioritize space and newer construction over a larger city-sized lot, as the land area is more modest by wider Winnipeg standards but generous for the local area.

Section 2: Frequently Asked Questions

1. How does the assessed value relate to the likely selling price?
The assessed value of $34,600 is a municipal figure for tax purposes. Historical sold price data for this property (ranging from ~$34,500 to $37,500) suggests the market price has been closely aligned with this assessment, but current conditions will ultimately determine the final sale price.

2. What does "above average for the neighbourhood" really mean for me?
It means that compared to other homes in King Edward, this property scores well on key metrics like size, modern build year, and official value. In practice, you may be getting more interior space and a newer structure than is typical, which can be an advantage for livability and relative value.

3. The home was built in 1986. Are there any potential concerns with that era?
While newer than most area homes, a 1986 build may contain materials (like certain types of wiring, plumbing, or insulation) that were standard of the time but may now be due for inspection or updating. A thorough home inspection is recommended.

4. The lot is smaller than the city average. Is that a drawback?
For this neighbourhood, the lot is actually above average. The "below average city-wide" comparison reflects that inner-city lots are typically smaller than those in newer suburban developments. For King Edward, this is a standard-to-generous lot size, offering manageable outdoor space with less maintenance.

5. What is the significance of the renovated basement?
A renovated basement in a one-storey home effectively doubles the usable living space. It’s a significant functional upgrade, providing room for family, guests, or hobbies, and is a key feature that adds to the home’s appeal and practicality compared to homes with unfinished cellars.