Property Overview: 293 Rutland Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1918, presents a classic King Edward neighbourhood character. With 898 sqft of living space and a 3,525 sqft lot, its metrics are very typical for its immediate street and area, offering a manageable scale. Key features include a detached garage and an unrenovated basement, indicating a property that holds potential for customization. Its appeal lies in its established location and its position as a straightforward, no-frills home. The assessed value is proportionally aligned with similar homes nearby, suggesting a market-realistic entry point.
This property would suit a first-time buyer or an investor looking for a foothold in a central Winnipeg neighbourhood without premium pricing for size or modern finishes. It’s a practical choice for someone comfortable with a home that may require updates over time, offering the chance to add value through renovations. A less obvious perspective is that its very "averageness" for the street is a stability indicator—it’s not an outlier, which can simplify financing and appraisal processes. The lot size is notably above the street average, offering a relative advantage for outdoor space or future expansion compared to direct neighbours.
Section 2: Frequently Asked Questions
1. What is the true condition of the unrenovated basement?
While specifics require a professional inspection, an "unrenovated" basement typically means original foundations, flooring, and utilities. It presents both a project cost and an opportunity to finish the space to modern standards without undoing previous renovations.
2. How does the sold price history inform the current value?
The property sold in August 2022 for an estimated range of $175k-$205k. This recent transaction provides a concrete benchmark, showing market activity and establishing a trend line that current assessments and listing prices can be compared against.
3. What are the implications of the home's age (1918)?
A 108-year-old home offers charm and established neighbourhood roots but requires diligent attention to aging components like wiring, plumbing, and insulation. It's wise to budget for maintenance and updates that align with its era.
4. Is the detached garage a major benefit?
Yes, especially in an older neighbourhood where on-site parking and storage can be limited. A detached garage provides secure parking and valuable workshop or storage space, a tangible asset not all homes in this category possess.
5. How does this home compare to the wider Winnipeg market?
The data shows that while this home is around average for its local King Edward area, it is below the city-wide averages for living space, lot size, and year built. This highlights its positioning as an affordable option within a central community, trading newer features and size for location and lot potential.