Property Overview: 252 Rutland Street
Key Characteristics & Appeal
This is a compact, one-storey character home built in 1918, situated on a standard city lot in Winnipeg's King Edward neighbourhood. Its primary appeal lies in being a solid, no-frills entry point into homeownership. With 817 square feet of living space and a renovated basement, it offers functional basics without the premium price tag of larger or newer builds.
The home suits first-time buyers or pragmatic investors seeking a straightforward property. Its assessed value is consistently average for its immediate street and neighbourhood, suggesting it’s a typical rather than outlier property in the area. A thoughtful perspective for a buyer is to recognize the value in its "middle-of-the-pack" metrics; it avoids the high costs of a top-tier property and the potential pitfalls or extensive updating often required of the lowest-priced ones. The recent sale in 2023 at a higher price point than previous years may indicate a rising trajectory for well-maintained homes on this street.
Frequently Asked Questions
1. How does this home compare to others in the area?
The data shows this home is consistently around average for Rutland Street and the broader King Edward neighbourhood in terms of living area, assessed value, and year built. Its lot size is slightly below average for the area.
2. What is the potential for future value growth?
While not a guarantee, the property’s sold price history shows a significant increase between its 2022 and 2023 sales. This suggests that homes on this street can appreciate, particularly with updates. Its average standing in the neighbourhood means its value is likely to move with the local market trends.
3. Is the renovated basement a finished living space?
The listing notes a "renovated basement," but the specific finish level and whether it includes legal secondary suite potential are not detailed. This would be a key point to clarify with the seller or through a viewing.
4. What are the implications of the home's age (1918)?
A home from 1918 offers character but requires a buyer to be mindful of the potential for older building materials and systems. A thorough inspection is essential. On a positive note, its age is typical for the street, and it has already undergone some updates, like the basement renovation.
5. Why is the citywide assessed value ranking so high (Top 84%)?
This can be confusing. The high percentile rank citywide (Top 84%) means the assessed value is lower than most of the city. This is because the benchmark citywide average assessed value is much higher ($390k), reflecting newer or larger homes in other areas. It highlights this property’s position as an affordable option within the wider Winnipeg market.