Property Overview: 366 Rutland Street, Winnipeg

Key Characteristics & Appeal

This one-and-a-half storey home in King Edward presents a solid, value-oriented opportunity. Its primary appeal lies in a combination of generous outdoor space and a renovated basement, set within a well-established neighborhood. At 1,150 sqft, the living area is comfortably above average for both Rutland Street and the wider King Edward area. The standout feature is the land: at over 5,000 sqft, the lot size ranks in the top 2% on its street, offering significant outdoor potential that is rare for the locale.

The home itself, built in 1952, is newer than many on the block. A detached garage and the updated basement add functional utility. Recent sold price data suggests steady value appreciation in the area. This property would suit a practical buyer—perhaps a first-time homeowner, a small family, or an investor—who prioritizes land size and basement potential over a large or modernized main living space. It’s for someone who sees value in a capable home on a sizable lot, where future outdoor projects or suite potential could be realized.

Frequently Asked Questions

How does the lot size compare to typical city properties?
While the lot is exceptionally large for its immediate street and neighborhood, it is closer to the city-wide average. This highlights one of the property’s key strengths: it offers a suburban-like yard in a more central, established area.

What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope or finish. This is a key detail to verify, as it could range from basic moisture-proofing and flooring to a fully developed living space with proper permits.

Is the assessed value a reliable indicator of the selling price?
Not directly. The assessed value for tax purposes is notably lower than recent sold prices in the area, as seen in the 2024 sale range. Market conditions and property updates typically drive the sale price well above the municipal assessment.

How does the living space feel for a 1.5-storey layout?
At 1,150 sqft, the home is spaciously sized for its style and area. However, the 1.5-storey design often means bedrooms on a smaller, possibly sloped-ceiling second floor. The main floor likely houses the common areas and possibly a primary bedroom.

What is the significance of the recent sale history?
The home sold in mid-2024 and is back on the market. While the reasons are unknown, it’s wise to inquire about any work done during that ownership and to review current listings to understand the seller’s motivation and pricing strategy.