Property Overview
249 Rutland Street is a newly built, two-storey home in Winnipeg's King Edward neighbourhood. Its primary appeal lies in its modern construction and above-average interior space within a well-established area. The home features a renovated basement and 1,465 sqft of living area, which ranks in the top 8% for its street and top 4% within the neighbourhood, offering more room than most nearby comparables. With a 2025 build date, it is a distinctly new property in a sea of century-old homes. The assessed value of $490k reflects its premium positioning locally, ranking in the top 5% on Rutland Street and top 1% in King Edward.
This property suits buyers seeking a modern, move-in-ready home without sacrificing inner-city location. It’s ideal for those who prioritize contemporary layouts and systems over a large yard, as the land area is notably smaller than city and neighbourhood averages. It represents a trade-off: maximum modernity and interior space on a compact, low-maintenance lot.
Key Considerations & FAQs
1. How does such a new home fit into this older neighbourhood?
It’s a true outlier. Being the newest home on the street and in the entire city-wide comparison set, it offers modern insulation, wiring, and building standards that surrounding heritage homes do not. This can mean significant savings on immediate repairs and energy costs.
2. The assessed value seems high for the area. Why?
The $490k assessment is elite for King Edward because it reflects the value of a brand-new structure. Unlike most neighbourhood homes where value is heavily tied to land, here it is driven by the modern building itself. This is confirmed by its recent sale price in the $500k range.
3. What are the implications of the smaller land size?
The lot is approximately 2,519 sqft, which is below average for both the street and city. This means lower outdoor maintenance and potentially lower property taxes tied to land value. However, it also means limited space for expansions, large gardens, or extensive outdoor recreation.
4. What is the realistic living space compared to other homes?
With 1,465 sqft, the living area is genuinely spacious for the area. You’re getting roughly 500 more sqft than the average comparable home on Rutland Street (~968 sqft). This suggests efficient use of the compact lot, likely with a multi-storey design.
5. Who might this property not suit?
Buyers seeking a traditional character home with a large yard should look elsewhere. Similarly, those expecting their property value to be driven by future land redevelopment potential may find the smaller lot limiting. It’s best for those who value the interior home over the land it sits on.