Property Overview
1261 Liberty Street is a distinctive, one-storey family home in Winnipeg's Wilkes South neighbourhood. Its primary appeal lies in its exceptional land size of over 77,000 square feet—a rare urban holding that places it in the top 1% of properties in Winnipeg for lot size. Built in 2001, the home features 1,651 sqft of living space, a finished basement, and a detached garage.
The property suits buyers looking for long-term potential and space over immediate luxury. It's ideal for someone with a vision for extensive gardens, outdoor recreation, or future expansion, valuing private outdoor space above all else. The home itself is practical and modern enough, but the true value is in the land. It also appeals to buyers seeking a relative bargain within a premium category; while its assessed value is in the top 3% city-wide, the price per square foot of land is likely more accessible than for a similarly sized lot in a more central, established area. A less obvious perspective is its appeal to multi-generational families; the vast, flat lot and single-storey layout offer flexibility for adding a separate suite or accessible living spaces.
Frequently Asked Questions
1. What can be done with such a large lot?
Beyond traditional gardening, the lot offers potential for significant landscaping projects, installing sport courts or a swimming pool, or even subdividing in the future, subject to municipal zoning and approval. It provides a level of privacy and scope for outdoor activities uncommon in the city.
2. How does the home's condition compare to the land's value?
The 2001 build is relatively modern, but the home's size and finishings are modest relative to the land it sits on. Buyers should view it as a comfortable, updated dwelling on a premium parcel, where the investment is primarily in the property's future potential rather than in high-end interior features.
3. Is the neighbourhood consistent with this property's scale?
Wilkes South is a mature, established community. A lot of this size is an outlier, offering more seclusion and space than most neighbours. This means you get a semi-rural feel while still being within city limits and community amenities.
4. Why is there such a gap between the 2017 sale price and the current assessment?
The significant increase reflects strong market appreciation over seven years, but more specifically, it highlights the rising premium placed on large, developable land within the city. The assessment recognizes the unique and increasingly scarce value of the land itself.
5. What are the practical considerations of maintaining a 1.78-acre city lot?
Prospective buyers should budget for higher costs in landscaping maintenance, snow clearing (with a long driveway), and potentially higher utility costs for exterior lighting or watering. The rewards of space come with greater responsibility for its upkeep.