This 7-bed, 3.5-bath home on Burns Street has a fascinating history. Sure, it was built in 1914, and designed by Donaldson and Meier, the architects behind Cooley High, Most Holy Redeemer Church and the Penobscot Building, but the home's more recent past is the real story. The 4000-square-foot home sold in 2013 for $220K after nearly a year on the market and some missteps in pricing. When we featured the place in 2012, the ask was $305K. Today, after what appears to be fairly minor renovation (it looks like they painted, stripped out some wallpaper, and threw in new window treatments. e.g.), the current owners want $409K.
While the flippers did the world a favor by murdering the ghastly wallpaper border in the kitchen, the space is still a mess—light oak out the yin-yang, cheap (ugly) laminate counters, and grey floors reminiscent of Chipotle, or prison, or maybe a Chipotle in a prison. The kitchen does have top-of-the-line appliances, thoughtfully left behind when the place last changed hands (Viking range, Sub Zero fridge). The house has a wealth of lovely features, too—the bathrooms have original terrazzo floors, there's a clawfoot tub, french doors galore, refinished hardwood floors, large bedrooms, original chandeliers in the foyer and dining room, sun porches and a massive yard. Not to mention a detached 3-car garage, an all-important Detroit necessity.
This is clearly a great house, and should command a great price. Given the limited amount of change in the last two years, expecting to pull off a $200K flip seems like hubris on an epic eye-roll scale at the very least.