1575 Liberty Street – Property Summary

Key Characteristics & Appeal

This property sits on 109,293 square feet of land, placing it in the top 1% citywide for lot size in Winnipeg. While the land is exceptional, the home itself is more modest: 2,070 square feet of living space, which is slightly below the street and neighbourhood averages but well above the citywide median. Built in 2004, it’s newer than most homes in the area and across the city, where the average year built is 1966.

The assessed value of $780,000 reflects a similar pattern—around average for its street and neighbourhood, but in the top 2% citywide. This creates an interesting dynamic: the value is driven primarily by the land, not the house. For buyers, the appeal lies in owning a very large, well-located parcel in a relatively modern subdivision. The home itself is functional but not oversized, which may suit someone who wants space to grow a property rather than live in a sprawling house from the start.

This property would likely suit buyers who value land above all else—someone looking to build an addition, develop a hobby farm or garden, or simply enjoy a private, spacious yard within city limits. It may also appeal to investors or those planning long-term property improvements, as the structure is solid but leaves room to increase living area significantly.

Frequently Asked Questions

1. Why is the assessed value high compared to the rest of Winnipeg but average on this street?
The street and neighbourhood contain many large, high-value homes (average assessed value around $970,000), so $780,000 is within a normal range locally. Citywide, most homes are on smaller lots and built much earlier, making this property stand out due to its land size and newer construction.

2. Is the living area too small for the lot size?
At 2,070 square feet on over 2.5 acres, the home is proportionally small. This can be a feature if you prefer a modest house with a lot of outdoor space, or a limitation if you need more interior square footage. It's worth considering whether you want to eventually expand or if the existing layout fits your needs.

3. How does the year built affect maintenance and insurance?
Built in 2004, the home is roughly 20 years old, which is newer than most Winnipeg homes. This typically means fewer immediate repairs (roof, HVAC, foundation) compared to an older property, but some systems like the water heater or furnace may be nearing replacement age. Insurance rates are usually lower than for a century home.

4. What does the land area mean for zoning and future use?
A lot of nearly 110,000 square feet is uncommon within the city. It's important to check current zoning restrictions—some large lots are zoned for single-family only, while others may allow subdivision or secondary suites. This should be verified with the local planning department before making any assumptions.

5. How does this property compare to others in Wilkes South for resale value?
The home is valued around the neighbourhood median, but its land sets it apart. Properties with similarly large lots in this area tend to hold value well and appreciate steadily, especially as infill development increases the demand for land in established neighbourhoods. Resale would likely attract buyers looking for a similar combination of newer home and large yard.