Detroit Condo Bought For $90K in 2012 Sells For $1.25M In 2018 – And That’s Good

In 2012, the father and son team of Andrew and Nathaniel Wallace, founders of a small IT firm in suburban Detroit, bought a two-bedroom condo in Detroit’s Brush Park neighborhood, just north of downtown, for $90,000. Over the next six years they put in about $200,000 worth of renovations into the property, and watched the transformation of the surrounding neighborhood. They listed the condo for sale in 2018.