Property Overview: 388 Rutland Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1912, presents a classic character home opportunity in Winnipeg's King Edward neighbourhood. With 990 square feet of living space, it offers a manageable footprint that is typical for its immediate street and area, though it is notably more compact than the Winnipeg citywide average. The lot size is modest at 2,522 sqft, which translates to lower maintenance while still providing private outdoor space.
The primary appeal lies in its position as an affordable entry point into the market, underscored by a relatively low assessed value. Its recent sale history suggests it has been a lower-cost property for some time. This is a home suited for a specific buyer: first-time purchasers, downsizers, or investors seeking a straightforward, no-frills property. It would appeal to those who value character and location over size and modern finishes, and who are prepared for the upkeep that comes with a century-old home. A less obvious perspective is that its smaller scale and established neighbourhood setting could offer a simpler, more community-oriented lifestyle compared to newer, sprawling suburbs.
Section 2: Frequently Asked Questions
1. What does the assessed value tell me about this property?
The assessed value is significantly below the citywide average, indicating this is a lower-value property in Winnipeg's market. It is, however, around the average for both Rutland Street and the broader King Edward area, meaning it is typical for this specific location.
2. Is the living space sufficient for a family?
At 990 sqft, the living area is compact. It would likely suit a small family, a couple, or an individual. It's comparable to other homes on the street but is about 350 sqft smaller than the average Winnipeg home, so efficient use of space would be important.
3. What should I consider with a home built in 1912?
The age of the home is a key factor. It is older than most homes on its street and in the city. Prospective buyers should budget for potential updates to systems like wiring and plumbing and be mindful of maintenance consistent with a century-old structure.
4. How does the lot size impact the property?
The land area is below average for the street, area, and city. This means less yard maintenance, but also less private outdoor space. It reflects the denser, established nature of the neighbourhood.
5. The sold price history shows very low sale prices. What does this mean?
The historical sold prices are consistently in a low range, aligning with the low assessed value. This confirms the property's position as an affordable option. It's important to request the exact sold price and have a current market evaluation to understand its present value.