1422 Liberty Street

Property Overview & Key Characteristics

This is a distinctive, one-storey home in Winnipeg's Wilkes South neighbourhood, built in 1974. Its most defining feature is the exceptionally large, approximately one-acre lot (43,577 sqft), which places it in the top 1% of all properties in Winnipeg for land size. The house itself offers 1,610 sqft of living space, which is above average for the city. It includes an unfinished basement and an attached garage.

The primary appeal lies in the rare opportunity for significant outdoor space and future potential within city limits. It suits a specific buyer: someone seeking a blank-canvas yard for gardens, recreation, or future expansion, who values space and privacy over a modern or recently renovated home. It would also appeal to value-driven buyers looking for a property where the land itself represents a substantial long-term asset. A thoughtful perspective is that while the home's interior and systems may require updates reflective of its age, the lot offers a unique chance to create a private oasis or hold a strategic urban parcel that is increasingly scarce.

Frequently Asked Questions

1. What does the ranking data (e.g., "top 1% for land") actually mean?
It’s a competitive positioning tool. For land size, this property is larger than 99% of all residential properties in Winnipeg, making its lot exceptionally rare. The other rankings compare it locally for factors like age and living area, providing context against immediate neighbours and the wider market.

2. Is the unfinished basement a drawback or an opportunity?
It depends on the buyer's goals. It’s not immediate living space, but it offers full, adaptable storage, utility space, and the potential for future customization (subject to permits and investment) without the need to undo a previous renovation.

3. The home is 50+ years old. What should I consider?
While the structure offers proven durability, a key focus for due diligence should be on major systems (roof, plumbing, electrical, heating) and insulation, as updates may be needed or planned for. The age is reflected in the assessment value, presenting a balance of opportunity and consideration.

4. Who is the typical buyer for this property?
It's ideal for buyers who prioritize land over a turnkey home. This includes hobbyists, gardeners, families wanting extensive play space, or long-term holders who see value in the land asset. It may not suit those seeking a modern, low-maintenance property without renovation plans.

5. How does the assessment value relate to the likely selling price?
The municipal assessment ($532,000) is for tax purposes and is a historical snapshot. The market price will be determined by current demand, especially for such a large lot, and the condition of the home. Properties with unique features like this often see market values that differ from their assessed values.