1234 Liberty Street – Property Summary
Key Characteristics & Buyer Profile
This 1930 home offers 2,364 square feet of living space on a 42,755-square-foot lot. It sits on Liberty Street in the Wilkes South neighbourhood of Winnipeg. The home's assessed value is $700,000.
The property stands out for its combination of a very large urban lot and a modest assessed value relative to its size. Citywide, it ranks in the top 4% for living area and the top 1% for land area—yet it ranks below average for assessed value on both its street and in its neighbourhood. That gap between physical size and market value is what gives this property its appeal. For a buyer who values space and land over a turnkey, modern interior, this represents a rare opportunity to own a substantial piece of property without paying a premium for finishings or recent renovations.
It would suit buyers who are comfortable with an older home and see the land as the primary asset. This includes someone looking to renovate a heritage-era house on a generous lot, a hobby gardener or small-scale urban farmer wanting room for a greenhouse or workshop, or a buyer who wants a large private yard within city limits without the price tag of a newer or fully updated home. It is less suited for someone wanting a move-in-ready property with modern fixtures or for those who prefer a low-maintenance, small-lot home.
Frequently Asked Questions
1. Why is the assessed value lower than other homes on the street?
The property is ranked 34th out of 51 homes on Liberty Street by assessed value. Although the house itself is large, it was built in 1930—significantly older than the street average of 1992—and likely has original or dated mechanicals, windows, and interior finishes. Assessed value reflects condition, age, and comparable sales, not just square footage.
2. Is the lot size unusual for this neighbourhood?
Yes. While the lot is 42,755 square feet—top 1% citywide—it is actually smaller than the average for both the street and neighbourhood, where many lots exceed 69,000 and 136,000 square feet respectively. In a neighbourhood of larger rural-style lots, this one straddles the line between spacious city lot and small acreage.
3. What condition should I expect from a 1930-built home?
The home likely has original structural elements common to that era, such as plaster-and-lath walls, cast-iron plumbing, and possibly knob-and-tube wiring. It may have had some updates, but given its below-average assessed value, major systems—heating, electrical, roofing—should be carefully inspected. A permit history check is advisable.
4. How does living area compare to a typical Winnipeg home?
This home is more than 1,000 square feet larger than the Winnipeg average for comparable homes (1,342 sqft). Citywide, it ranks in the top 4% for living area. On Liberty Street and in Wilkes South, it is close to the neighbourhood average—so it feels typical for the area, but well above the city norm.
5. Is this property suited for development or subdivision?
The lot is large by city standards, but zoning and lot dimensions would determine subdivision potential. At 42,755 square feet—roughly one acre—it is not a standard suburban lot size. Buyers should verify current zoning with the City of Winnipeg, and check for any easements, heritage designations, or minimum lot size requirements before assuming redevelopment options.