1285 Liberty Street – Property Summary

Key Characteristics & Buyer Profile

This is a property defined by contrasts. The home itself offers 2,795 sq ft of living space—well above average for its street and neighbourhood, and in the top 2% citywide. The land is even more exceptional: 93,374 sq ft puts it in the top 1% across Winnipeg. However, the assessed value sits notably low for its immediate area—ranking near the bottom on both the street and in Wilkes South—despite being above average citywide. The year built (1975) is older than the neighbourhood median but around average for the city.

The appeal here is unusual. You're getting a large home on a massive lot in a higher-value neighbourhood, at a tax assessment that doesn't fully reflect the property's current potential. That gap between land size, living area, and assessed value suggests a property that may be undervalued relative to its neighbours—possibly due to deferred maintenance, an older floor plan, or zoning specifics. It would suit buyers who are comfortable looking beyond surface-level comparisons: someone who wants citywide square footage and acreage without paying a premium for a fully updated home, or someone with the means to renovate and unlock equity. It's less suited for someone seeking a turnkey property in a prestige street context.

Frequently Asked Questions

1. Why is the assessed value so low compared to other homes on the same street?
The assessed value ranks in the bottom 2% on Liberty Street, where the average is nearly $979k. This likely reflects differences in the home's condition, recent upgrades, or interior finishes compared to its neighbours. Assessment data doesn't capture cosmetic details, but a significant gap usually points to a property that hasn't been renovated to the same standard—or one with a functional layout that's less desirable at that price point. The citywide comparison ($461k vs. $390k average) shows it's still above the broader median.

2. Is the land size truly usable?
At just over 2 acres, it's a rare parcel in this area—top 1% citywide. Whether it's usable depends on zoning, soil conditions, and any environmental or utility constraints. The lot is smaller than the Wilkes South average (136,915 sq ft), so it's not oversized for the neighbourhood. A survey and zoning check are essential before planning any subdivision, outbuildings, or extensive landscaping.

3. How does the year built affect maintenance or resale?
Built in 1975, the home is older than the street and neighbourhood averages (1992 and 1996). Citywide, that's around the median. Homes from this era often have good bones but may need updates to insulation, windows, roofing, and mechanicals. Resale value depends less on the year alone and more on how well those systems have been maintained or upgraded. An older home on a large lot can be a strong asset if the major capital items are in order.

4. Would this property appeal to an investor or an end-user?
Potentially both, but for different reasons. An investor might see the land-to-value ratio as an opportunity for future subdivision or a build-over scenario, especially given the street's overall value. An end-user who wants space and privacy—without paying for a finished showpiece—could find good value here. It's less likely to suit a buyer looking for a quick flip, since the appraisal gap may narrow after renovations, and the market for homes at this size and price point is smaller.

5. What does "Top 1%" for land area actually mean in practical terms?
It means this lot is larger than 99% of comparable residential properties across Winnipeg. In a city where the average residential lot is about 6,570 sq ft, this parcel is roughly 14 times that size. However, within the immediate neighbourhood, it's actually below average—so the context matters. The property offers rare citywide scale, but it's not an outlier in Wilkes South, where larger lots are more common. This can be a negotiating point: you're buying a lot that's exceptional for the city, but typical for the area.