402 Rutland Street

Property Overview: 402 Rutland Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home, built in 1919, presents a practical opportunity in Winnipeg's King Edward neighbourhood. Its primary appeal lies in its generous, above-average lot size of 4,841 sq ft, offering more outdoor space than most properties on the street and in the immediate area. The home itself, with 935 sq ft of living space and a renovated basement, is functionally sized and aligns with the typical scale of the local market.

The property suits buyers looking for a grounded, value-conscious entry into homeownership, or an investor seeking a land-advantaged asset. Its assessed value is modest relative to the wider city, suggesting a lower property tax burden. A thoughtful perspective for the right buyer is viewing this not just as a house, but as a parcel of land with a classic Winnipeg character home on it—the structure provides immediate utility, while the lot size holds potential for future enjoyment or expansion. It’s a home that ranks as "around average" in its immediate context but offers a standout feature (the lot) that isn't immediately obvious from the street view.

Section 2: Frequently Asked Questions

1. How does the lot size compare to nearby properties?
The land area of 4,841 sq ft is notably larger than the average for both Rutland Street and the King Edward area, placing it in the top 15-22% locally. This is a key differentiator for the property.

2. What is the typical price range for this home based on recent sales?
Based on available public data, the home sold in the range of $219,500-$245,000 in July 2021 and $195,000-$225,000 in March 2024. For the exact historical sold price, you can request the information directly via the listing page.

3. Is the living space smaller than average?
Within the King Edward neighbourhood and on Rutland Street itself, the 935 sq ft living area is very close to the local average. It is, however, below the much larger city-wide average, which reflects the more compact, established character of many central Winnipeg communities.

4. What does the "renovated basement" include?
The provided details confirm the basement is renovated but do not specify the scope or finish. This would be a key point to clarify with the listing agent to understand if it's a finished living space, a modernized utility area, or has separate entrance potential.

5. How old is this home, and should I be concerned?
Built in 1919, the home is over a century old. This is typical for the street and area. While this means diligent inspection for foundational, electrical, and plumbing updates is essential, it also reflects the enduring construction and historic character of many homes in central Winnipeg neighbourhoods.