Property Overview & Key Characteristics

440 Rutland Street presents a unique proposition in Winnipeg’s King Edward neighbourhood. Its primary appeal lies in its exceptionally low municipal assessed value, which ranks in the top 3% for the street and neighbourhood, indicating a potentially low property tax burden relative to the area. The lot is a generous 2,519 sqft, placing it in the top 15% for size on the street, offering valuable land and potential for expansion or landscaping. Notably, the data suggests this is one of the newest properties on its street and in the wider neighbourhood, hinting at a recent rebuild or significant renovation that may not be reflected in older records.

This property would suit a specific type of buyer: value-conscious investors or owner-occupiers seeking a lower entry point into the market with a focus on land value over existing structure. It’s also a candidate for those with a vision for a custom build or major renovation, given the sizable lot and the apparent discrepancy between the modern build ranking and the low assessment. It is less suited for buyers seeking a turn-key home with confirmed modern finishes and known living area details.

Frequently Asked Questions

1. Why is the assessed value so much lower than nearby properties?
The assessed value is a municipal figure for taxation purposes and can be significantly lower than market value, especially if the property has been recently rebuilt or substantially renovated before an assessment update. It suggests a potentially attractive property tax bill.

2. What does the ranking for "newer build" mean without a listed year?
The data indicates this property ranks as one of the newest on its block compared to its neighbours. This typically points to a recent construction or a complete rebuild, but the exact year should be verified through a property disclosure statement or direct inquiry.

3. Who would benefit most from this property’s profile?
Buyers with renovation or rebuilding plans are a natural fit, as the low assessment and large lot create a favourable foundation. It’s also strategic for investors focused on long-term land value in a central neighbourhood, with lower carrying costs in the interim.

4. What are the main drawbacks to consider?
Key details like the exact living area, number of bedrooms/bathrooms, and the condition of the interior are not provided in this data set. The lack of a garage and the unspecified building type also require clarification. It may involve more upfront discovery than a standard listing.

5. How should I interpret the comparable listings provided?
The "similar assessed value" properties are for tax comparison only and are often in different neighbourhoods, not indicating similar market value or features. The "nearby properties" show the immediate context, but the "for reference" listings on the same street (like 411 Collegiate) better illustrate typical market values for older, smaller homes in King Edward, highlighting 440 Rutland's unique value proposition.