Preheat your oven to 350 degrees Fahrenheit. This ensures that the cake bakes evenly.
Grease an 8×8 inch square baking pan with a bit of butter or cooking spray. This will prevent the cake from sticking.
In a large mixing bowl, cream together the butter and sugar until light and fluffy. This usually takes about 3 to 5 minutes. You want it to look pale and smooth.
Add the vanilla and egg to the mixture and beat until combined. It should be well mixed and slightly thickened.
In a separate small bowl, combine the flour with the baking powder, baking soda, and salt. This dry mixture is important for the cake's structure.
Using a rubber spatula, gently fold the dry mixture into the wet mixture. Alternate adding the buttermilk to keep the batter moist. Be careful not to over-stir; it’s okay if some flour lumps remain.
Once combined, stir in the diced rhubarb. You want to see the beautiful pink pieces throughout the batter.
Spoon the batter into your greased baking pan, spreading it evenly to ensure it bakes uniformly.
To prepare the streusel topping, combine the melted butter, flour, and sugar in a mixing bowl. Use your fingers to crumble it together until it resembles coarse breadcrumbs.
Evenly sprinkle the streusel topping over the batter in the pan. This will create a wonderful crunchy layer on top.
Bake the cake for 35 to 45 minutes. You’ll know it’s ready when a toothpick inserted into the center comes out clean.
Once baked, remove the cake from the oven and let it cool slightly before cutting it into squares. Serve warm with a scoop of ice cream or a dollop of whipped cream for an extra treat.