1501 McCreary Road – Property Summary

Key Characteristics & Buyer Profile

This is a large, well-established property in Winnipeg’s Wilkes South neighborhood, built in 2004 with 4,004 square feet of living space on a 223,931-square-foot lot. The home ranks in the top 1% citywide for both living area and land size, and its assessed value of $1.68 million places it in the top 1% of all comparable homes in Winnipeg. Within its own neighborhood, it sits in the top 9% for value and the top 7% for lot size.

The appeal here is space—both inside and out—on a scale that is rare within city limits. The land alone is more than 30 times the citywide average for comparable homes (6,570 sqft), which suggests room for privacy, outdoor amenities, or future development potential depending on zoning. The home itself is newer than most properties in the area (2004 vs. a neighborhood average of 1996), meaning major systems are likely in better condition than many neighboring homes.

This property would suit buyers who want a large suburban-style lot without leaving the city, such as families needing indoor and outdoor room, equestrian or hobby-farm owners, or someone looking for a compound-like setting. It may also appeal to buyers who prioritize long-term land value over immediate cosmetic updates. The home’s age (nearly 20 years old) and high assessed value mean it’s not a fixer or a starter home—it’s for someone ready to invest in a premium, low-turnover asset.

Five Possible FAQs

1. How does the assessed value compare to other homes in the area, and does that reflect market price?
The assessed value of $1.68 million is in the top 1% citywide and top 9% in Wilkes South. Assessment values are used for property tax calculations and may differ from market price, especially if the home has had recent upgrades or if the local market has shifted. It’s a strong indicator of relative value, but not a direct listing price.

2. What makes the lot size so unusual for Winnipeg?
At nearly 5 acres (223,931 sqft), the lot is in the top 1% citywide. Most comparable city lots average around 6,570 sqft. That puts this property in a different category—closer to a rural estate than a standard suburban lot. Zoning and permitted uses should be verified with the city, as large lots can come with restrictions or opportunities that smaller ones don’t.

3. Is the home likely to need major renovations soon?
Built in 2004, the home is about 20 years old. Systems like the roof, furnace, and air conditioning often require attention around the 20–25 year mark, depending on maintenance. The home ranks in the top 48% for age on its street and top 15% citywide, so it’s newer than average, but not brand new. A home inspection is recommended to assess current condition.

4. Who typically buys a property like this?
Buyers tend to be established homeowners—often families, professionals, or investors—who value land size and privacy more than walkability or proximity to downtown. Because the property is priced well above the neighborhood average, it may also appeal to out-of-area buyers looking for a large city lot that feels secluded but still has city services.

5. How does this property compare to others currently on the market in Wilkes South?
Based on the rankings, this home is larger than most in the area and sits on significantly more land. Few homes in Wilkes South offer this combination of living space and lot size. That could mean less direct competition when selling, but also a smaller pool of interested buyers. A local real estate agent can provide current listing comparisons.