44.9
Below average
Property score
44.9
Below average
Overall 44.9
Compared with neighbourhood average
882 sqft (bottom 45%)
Built in 1918 (30 yrs older than avg)
Located in a above-average income area
with median household income of ~67.5k
Transit 80.0
3-min walk to transit with 3 nearby routes
Within 500m: 12 dining spots, 3 schools, 3 shops, and 9 parks nearby
Sold for $250,000 over asking
Winnipeg Real Estate Sales Summary & Market Analysis May 11–17, 2026
Living Area
Near average
7% smaller than neighborhood avg.
Year Built
Near average
30 yrs older than neighborhood avg.
Mother tongue
English · 69%Tagalog · 15%
Past 10 years King Edward sales snapshot (~80% of all data)
1,128
356.6k
$349/sqft
1948
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44.9 is composed by the two sections below.
Property Score
Community Score
King Edward
How to read: Share of sales in each ~$50k price band for “king edward” (Detached houses (non-condo), 2024). The tallest band is the mainstream budget range; multi-year view shows how that band shifts over time.
Sales-to-New-Listings
1,196
sold
1,852
new listings
Manitoba Real Estate Association March public data on New Listings and Properties Sold across Manitoba
Sold Above Asking
Majority sold above asking
68 of 104 sold above asking · Manually compiled from MLS Winnipeg sold listings, May 4 – May 10, 2026
With a Sales-to-New-Listings ratio of 64.6% and 65% of homes selling above asking price, demand is clearly outpacing supply. Buyers are competing, which is putting upward pressure on prices.
Dissemination area (DA) — Statistics Canada 2021 Census · Area: #46110251
$68K
Median household income
$88K
Average household income
14%
Low income (LIM-AT)
0.2
Income inequality (Gini)
3.7
P90 / P10 ratio
37%
Single-person households
19%
Families with children
Figures are for the census dissemination area containing this listing location; sources and margins may apply per Statistics Canada.
Rank by land area, larger = better rank
Rank by year, newer = better rank
Rank by living area, larger = better rank
Rank by assessed value, higher = better rank
Bar: fill length ≈ share of peers you outperform. Fill color reflects tier (red / blue / amber / gray). “Avg” is a rough median benchmark for comparable homes in that scope.
To see this property on a map next to nearby houses—and compare year built, living area, assessed value, and lot size in detail—open the neighbourhood analysis page.
Nearby stops, routes & transit score
Dining, education, healthcare, shopping & more
224 Rutland Street — 32 amenities found within 500 m, across 6 categories, including 12 dining (nearest 136 m), 3 education (nearest 220 m), 3 shopping (nearest 152 m).
King Edward · WPS public data · 2026
Annual incidents
32
2026
vs. city avg
+8%
relative to avg
Year-over-year
▼ -92%
vs. prior year
Primary type
Property
47%
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Bottom 3% | Bottom 5% | Bottom 3% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview: 224 Rutland Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1918 on a standard city lot in the King Edward neighbourhood. With 882 square feet of living space, it sits around the average size for its immediate street and area, though it is notably smaller than the typical Winnipeg home. A key characteristic is its very low municipal assessed value ($16,700), which places it in the bottom 10% of homes on its street, in the area, and city-wide. This suggests it may be a candidate for significant renovation or is valued primarily for its land. The home has a basement, but it is noted as not being renovated, and there is no garage or pool.
The appeal lies in its position as a potential entry point into the Winnipeg market, likely appealing to buyers seeking a low upfront cost, investors considering a hold or redevelopment project, or hands-on individuals looking for a foundational property to customize over time. Its lot size, while below the city average, is typical for the central neighbourhood, offering a manageable outdoor space. A thoughtful perspective is that its "below average" metrics across the board aren't necessarily drawbacks but clear indicators of a property that trades modern conveniences and size for affordability and potential in an established location. It suits a buyer comfortable with a project, whether that's gradual DIY updates or a strategic investment, rather than someone seeking a move-in-ready home.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
A very low assessment typically reflects the home's age, condition, smaller size, and lack of recent major renovations compared to the broader market. It is assessed based on its current state, not potential.
2. What does "basement, not renovated" imply?
This usually means the basement is in original or utilitarian condition. Buyers should budget for potential moisture management, foundational updates, and finishing costs if they intend to use it as living space.
3. Who would this property be most suitable for?
It's best suited for first-time buyers or investors with a limited initial budget who are prepared for ongoing maintenance or renovation work. Its value is in the opportunity it presents, not in its current finish.
4. How does the recent sold price range compare to the assessed value?
The sold price range from July 2024 ($115k-$145k) is significantly higher than the $16,700 assessment. This is normal, as the assessed value is for tax purposes and often lags behind the actual market value, which is driven by buyer demand, location, and property sales.
5. Are the smaller lot and living area major limitations?
For those seeking a low-maintenance yard and cozy footprint, they are manageable. However, they are definite constraints for anyone needing ample indoor space, multiple vehicles, or extensive outdoor recreation. The lot size is consistent with many older, central neighbourhoods.
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