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489 Lilley Ave, Columbus Investment Report: Flip & Rental Analysis · Frontflip
24
Value up to $214K, 8 comps confirm
Updated 10 days ago • 1 new comp
Your Investment Paths
Turnkey Rental
The rental market for this property shows strong potential, with estimated monthly income ranging between $1,966 and $2,544. This range highlights a solid opportunity to generate consistent cash flow in a competitive Columbus neighborhood. Investors can expect an attractive rental yield of approximately 13.6%. With similar local properties consistently finding tenants, this home is well-positioned as a reliable income-generating asset for those looking to maximize their monthly returns.
More about this home
Neighborhood Assessment
489 Lilley Ave sits in Columbus’s South of Main, a transitioning, in-demand pocket just east of downtown and near Olde Towne East. You’ve got a classic urban grid, decent bus access, and quick drives to downtown jobs, Nationwide Children’s Hospital, and the Near East arts/culture scene. Values on Lilley and nearby streets have climbed from sub‑$100K to the mid‑$100Ks–$200K range as new builds, infill lots, and rehabs fill in. The area still has some rough edges, but the combo of appreciating comps, active infill construction, and proximity to downtown points to solid long‑term upside.
Market Activity
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Rental Income
$27K
Yield
13.6%
Year 1 Estimates
Fix-and-Flip
Modern updates transform a home into a standout residence, often driving greater buyer appeal and rental interest. While baseline properties average $279 per square foot, upgraded homes offer a refreshing, contemporary aesthetic that captures modern lifestyle trends. Investing in high-quality finishes helps your property shine, with potential rent reaching $2,541 monthly. Though the current price per square foot sits at $187 versus the $279 baseline, this gap signals a fantastic chance to add premium value.
Comps
5
Buy-Rehab-Rent
This property offers a stable BRR opportunity with an estimated post-renovation value between $256,000 and $283,000. While market upside is modest, the modern 2025 build year ensures low initial maintenance and high appeal for prospective tenants. Annual rental income is projected at $29,088, delivering a solid 10.8% yield. Given the consistent rental demand, this investment provides a reliable cash flow stream for portfolios prioritizing steady performance over high-risk, rapid appreciation strategies.
Rental Income
$29K
Yield
10.8%
Year 1 Estimates, Post Typical Renovation
Estimated value
$199K
At comp median
Comparative Market Analysis
$199K – $267K
~123 days to sell
Based on 8 comps