Property Overview

This one-and-a-half storey home on Rutland Street, built in 1918, presents a practical opportunity in Winnipeg's King Edward neighbourhood. With 1,009 square feet of living space and a renovated basement, it offers functional space on a modest 2,523 sqft lot. Its assessed value is notably consistent with the immediate area but sits well below the Winnipeg citywide average, highlighting its positioning in a more affordable market segment. Recent sale history shows significant appreciation between 2021 transactions, suggesting active interest in the street and area.

Section 1: Key Characteristics & Appeal

Key Characteristics:
The home is a classic, compact character property from the early 20th century. It features a renovated basement, adding usable space, but does not include a garage or pool. Its living area and assessed value are very typical for both Rutland Street and the broader King Edward neighbourhood, meaning it fits right in without standing out. However, compared to the entire city, it offers a smaller footprint and lot size at a proportionally lower value point.

Where Its Appeal Lies:
The primary appeal is value and location stability. You are purchasing a home that is average for its specific, established community—not overpaying for premium neighbourhood features, but also not finding yourself in an outlier property. The renovated basement adds modern utility to the historic structure. For the right buyer, there's a subtle appeal in the data: it represents a "known quantity" on its street, which can minimize surprises and offer a clear benchmark for comparison.

Suitable Buyer Profile:
This property would best suit first-time homebuyers or practical investors seeking an affordable entry into the Winnipeg market with a functional living space. It would also appeal to those who prefer a neighbourhood where their home's metrics (size, value) are the norm rather than the exception, offering a sense of financial predictability. It is less suited for those requiring larger indoor or outdoor space, or for buyers prioritizing modern construction and amenities like a garage.

Section 2: Frequently Asked Questions

1. Is this a good investment compared to the rest of Winnipeg?
The data suggests it operates in a different market tier than the citywide average. While its value is below the Winnipeg average, it has shown growth within its own locale. Investment potential hinges on the continued demand for affordable, character homes in King Edward rather than on citywide trends.

2. What does the "renovated basement" likely entail?
While specifics aren't listed, in a home of this age and price point, a renovated basement typically means it has been finished into a livable space (such as a rec room or apartment) with updated flooring, walls, and lighting. It's advisable to confirm the quality, permits, and moisture control measures.

3. How does not having a garage impact daily life here?
This is a standard feature for many homes on the street. Buyers should budget for alternative parking solutions and consider the impact of street parking during Winnipeg winters. The trade-off is reflected in the home's affordability.

4. The home sold for significantly more in late 2021 than it did earlier that same year. Why?
This sharp increase likely reflects the peak of the recent hot market, combined with the value added by the basement renovation. It indicates the property can attract strong interest under favourable market conditions.

5. How should I interpret the lot size being "below average" for the neighbourhood?
The lot is smaller than many in King Edward, but the home's living area is on par. This means the property makes efficient use of its land. It translates to less yard maintenance but also less private outdoor space—a practical trade-off that contributes to its affordability within the area.