Property Overview
This 1912 one-storey home at 358 Rutland Street in Winnipeg's King Edward neighbourhood presents a distinct opportunity. Its primary appeal lies in a rare combination for the area: a very large, 5,047 sqft lot—ranking in the top 1% on its street—paired with a home offering above-average living space for both the street and neighbourhood. The detached garage and full basement add functional value. However, the home is historic, with an unrenovated basement and systems reflecting its age.
This property would suit a buyer who values land size and potential over move-in perfection. It’s a strong candidate for an owner looking to gradually renovate a character home with ample outdoor space, or for an investor who sees long-term value in a large lot in a central location. Its above-average metrics on its street suggest it's a solid property within its immediate context, even if its age and assessed value are more modest in a city-wide comparison.
Key Details & FAQs
- Style: One-Storey House
- Year Built: 1912
- Living Area: 1,136 sqft
- Land Area: 5,047 sqft
- Garage: Detached
- Basement: Yes, not renovated
- Last Sold Price Range (Dec 2021): $27.5k - $30.5k
- Current Assessed Value: $29,100
1. What is the true draw of this property?
The standout feature is the land. The lot size is exceptionally large for Rutland Street and the King Edward area, offering significant outdoor space, garden potential, or future expansion possibilities that are hard to find in older neighbourhoods.
2. What should I be mindful of given the home's age?
Built in 1912, major systems like plumbing, electrical, and the foundation may require inspection and potential updating. The "unrenovated basement" status also suggests that moisture prevention and insulation could be important considerations.
3. How does its value compare to nearby homes?
Its assessed value is above average for both Rutland Street and the King Edward neighbourhood, but below the Winnipeg city-wide average. This indicates you are purchasing in a more affordable market segment, with the property itself being a comparatively strong offering within that segment.
4. Is the detached garage a major benefit?
Yes, especially in an older neighbourhood where on-site parking can be limited. A detached garage provides secure storage, workshop space, and protects a vehicle from the elements, adding practical utility.
5. Who would this property not suit?
It may not be ideal for someone seeking a modern, low-maintenance home ready for immediate occupancy. The age of the property and the condition of the basement imply a need for ongoing upkeep, investment, and a tolerance for phased renovations.