Castle, a property management tech startup founded in Detroit, had a lot of promise. It got into the prestigious Y-Combinator accelerator, raised $2.75 million in seed funding, and eventually managed around 500 homes. But it wasn’t enough to overcome business challenges and the company ended up folding last year.
While trying to combine property management with technology, the three young founders—who met and moved to Detroit for Venture for America—used a home in Virginia Park as their base of operations. They bought it in 2013 and did an extensive rehab.
Now, they’ve put the home on Virginia Park Street up for sale. It’s listed with Darin McLeskey of Denovo Real Estate for $399,000.
The 3,427-square-foot brick home dates from 1909. It’s sits on a corner lot (over 10,000 square feet) and has massive front and back yards as well as a large porch.
Inside, the Castle founders say they removed drop ceilings, carpet, and drywall to resurface the original ceiling and floors. A lot more work was also needed since the home had been vacant for a few years prior.
Today, with its wide entryways and combined living and dining rooms, the space feels quite open. The home also has a fresh-looking kitchen and bathrooms with new tiles and countertops.
With seven bedrooms and four full bathrooms, the home could make a great rental property. It’s also gotten a $20,000 price cut since first being listed in early September.