Detroit stone cottage listed for foreclosure at $26k now up for auction for $280k

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The house, first built in 1900, was badly damaged by a flood in 2011
It went into foreclosure and listed for $26,000, eventually selling at auction for $31,000
After extensive renovations over the years, including new plumbing, it is now listed for $279,000
It has five bedrooms, three bathrooms and three fireplaces

By Dailymail.com Reporter

Published: 10:08 EST, 2 August 2015 | Updated: 13:09 EST, 2 August 2015

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It was the house that no one wanted - badly damaged by flooded pipes and put into foreclosure.

But the same home once listed for sale at $26,000 is now back on the market for a whopping $279,000.

The stone cottage in the appreciating Detroit suburb of West Village has become the epitome of an area that is having renaissance - and making a lot of money for people willing to invest the time and energy.

The house, with five bedrooms, three bathrooms and three fireplaces, has undergone major renovations and improvements over the past four years.

Now that's appreciation: The stone cottage in the appreciating Detroit suburb of West Village has become the epitome of an area that is having renaissance - and making a lot of money for people willing to invest the time and energy

Overhauled: The current owners gave the inside a complete renovation after internal flooding all-but ruined the property

Plush: The owners have spent the last four years updating, improving and repairing the house following a 2011 flood

Stone cottage: The huge house has five bedrooms, three bathrooms and three fireplaces. It was first built in 1900

Face lift: When the house went into foreclosure, it was listed for $26,000. It then sold at auction for $31,000. It is now listed for $279,000

The cottage was was completely flooded by frozen pipes in 2011.

It then went into foreclosure and was listed for sale at $26,000.

It eventually sold for higher, not too much higher, realtor Hubert Jason Hill, of Historic Detroit Realty, told The Detroit Free Press.

First built in 1900, the new owners restored the pipes and repaired the damage done to the property by the flood.

New plumbing and electrical was put in, along with polished floor boards.

The owners also knocked down walls and extended archways to create a more open living feel.

Now, as West Village becomes a trendy 'hot pocket' of Detroit, it is prime time to sold off - at well over $200,000 more than what was originally paid.

"The West Village market has literally corrected itself since the start of 2015," Hill said.