151 Covington Ln
Description
Currently generating ~$7,900/month gross income with 5 of 6 income streams occupied. Income breakdown:
4 renovated 2BR / 1.5BA apartments at $1,600 each ($6,400 total)
2,700 sq ft warehouse/commercial space leased at $1,500
Separate garage/storage unit vacant with ~$389 monthly potential
At full occupancy gross reaches ~$8,289/month, exceeding the 1% rule at the current $789,900 price and supporting strong 8–10%+ cap rates. Tenants pay all utilities...STABILIZED MIXED-USE | COMMERCIAL ZONING | CASH FLOWING
Currently generating ~$7,900/month gross income with 5 of 6 income streams occupied. Income breakdown:
4 renovated 2BR / 1.5BA apartments at $1,600 each ($6,400 total)
2,700 sq ft warehouse/commercial space leased at $1,500
Separate garage/storage unit vacant with ~$389 monthly potential
At full occupancy gross reaches ~$8,289/month, exceeding the 1% rule at the current $789,900 price and supporting strong 8–10%+ cap rates. Tenants pay all utilities (individually metered)
Situated on 5.1 acres with commercial zoning and no HOA, the property offers a rare mixed-use combination of residential apartments, commercial warehouse space, and expansion land in a quiet setting just minutes from Dickson and about 1 hour west of Nashville. Recent infrastructure improvements include a septic system upgrade with new tank and field lines to support the property's multi-unit capacity. Majority of HVAC systems replaced within the past 5 years. Turnkey investment with proven rents. Appliances convey.
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VALUE-ADD OPPORTUNITIES
Rent the garage/storage unit (~$389/mo potential)
Utilize the unfinished basement areas for storage or finish for extra living space
Add RV pads with utilities
Develop storage units or contractor yards (commercial zoning)
Clear additional land for cabins, glamping, or additional structures
- Listed by William (Trey) Sugg • Realty One Group Music City
Property Details for 151 Covington Lane
Property Details for 151 Covington Lane
| Status | Active |
|---|---|
| MLS # | 3008963 |
| Days on Market | 164 |
| Taxes | $3,349 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1983 |
| Lot Size | - |
| County | Dickson County |
Location
Building Information for 151 Covington Lane
Payment Calculator
$4,113 per month
30 year fixed, 6.11% Interest
$3,833
$279
$0
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1Property Information for 151 Covington Lane
- Directions: I-40W; Exit 172 for TN-46 toward Centerville/Dickson; turn R onto TN-46N; in 1.2 miles turn L onto Pomona Rd; in 1.4 miles turn R onto W Grab Creek Rd; L onto Murrell Rd; R onto E Piney Rd; L onto Covington
- Elementary School: Centennial Elementary
- High School: Dickson County High School
- Levels: One
- Living Area Source: Assessor
- Living Area Units: Square Feet
- Middle Or Junior School: Dickson Middle School
- Mlg Can View: Yes
- Zoning: Commercial
- Total Non Garage Parking Spaces: 10.0
- Garage Spaces: 2.00
- Parking Features: Garage Faces Side, Driveway, Gravel
- Parking Total: 12.00
- Condo Coop Association YN: No
- Above Grade Finished Area Source: Assessor
- Above Grade Finished Area Units: Square Feet
- Below Grade Finished Area Source: Assessor
- Below Grade Finished Area Units: Square Feet
- Building Area Source: Assessor
- Building Area Units: Square Feet
- Flooring: Carpet, Laminate
- Lot Size Units: Acres
- Structure Type: Multi Family
- Construction Materials: Brick
- Documents Count: 0
- New Construction: No
- Possession: Negotiable
- Property Attached: Yes
- Senior Community: No
- Stories: 1
- Year Built Details: Renovated
- Cooling: Central Air
- Cooling: Yes
- Heating: Central
- Heating: Yes
- Sewer: Septic Tank
- Utilities: Water Available
- Water Source: Private
- Laundry Features: Individual, Electric Dryer Hookup, Washer Hookup
- Attached Garage: No
- Covered Spaces: 2.00
- Exterior Features: No Dock
- Garage: Yes
- Pool Private: No
- Roof: Shingle
- View YN: No
- Number Of Units Total: 6
- Unit Type Actual Rent: $1,600.00
- Unit Type Baths Total: 2
- Unit Type Beds Total: 2
- Unit Type Type: 2 Bedroom
- Unit Type Actual Rent: $1,600.00
- Unit Type Baths Total: 2
- Unit Type Beds Total: 2
- Unit Type Type: 2 Bedroom
- Unit Type Actual Rent: $1,600.00
- Unit Type Baths Total: 2
- Unit Type Beds Total: 2
- Unit Type Type: 2 Bedroom
- Unit Type Actual Rent: $1,600.00
- Unit Type Baths Total: 2
- Unit Type Beds Total: 2
- Unit Type Type: 2 Bedroom
- Rent Includes: None
- Tenant Pays: Electricity, Water
- Total Actual Rent: $6,400
Property History for 151 Covington Lane
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Oct 2, 2025 | Listed (Active) REALTRACS #3008963 | $799,900 | — |
| Sep 24, 2025 | Withdrawn REALTRACS #2816260 | $799,900 | — |
| Aug 19, 2025 | Contract - Showing REALTRACS #2816260 | — | |
| Jun 7, 2025 | Price Change REALTRACS #2816260 | $824,000 | — |
| May 27, 2025 | Price Change REALTRACS #2816260 | $825,000 | — |
| Apr 19, 2025 | Price Change REALTRACS #2816260 | $885,000 | — |
| Apr 10, 2025 | Listed (Active) REALTRACS #2816260 | $995,000 | — |
| Dec 31, 2024 | Expired REALTRACS #2582807 | $749,500 | — |
| May 5, 2024 | Contract - Showing REALTRACS #2582807 | — | |
| Mar 25, 2024 | Price Change REALTRACS #2582807 | $749,900 | — |
| Mar 19, 2024 | Price Change REALTRACS #2582807 | $764,500 | — |
| Feb 28, 2024 | Price Change REALTRACS #2582807 | $769,500 | — |
| Oct 4, 2023 | Listed (Active) REALTRACS #2582807 | $779,900 | — |
| Mar 27, 2021 | Closed REALTRACS #2057236 | $410,000 | — |
| Mar 25, 2021 | Closed (Public Record) Public Record #1506409616 | $410,000 | — |
| Jun 4, 2020 | Contract - Not Showing REALTRACS #2057236 | — | |
| May 11, 2020 | Price Change REALTRACS #2057236 | $424,900 | — |
| Jul 2, 2019 | Listed (Active) REALTRACS #2057236 | $650,000 | — |
| Jun 20, 2018 | Active - Not Showing REALTRACS #1942336 | — | |
| Jun 19, 2018 | Listed (Active) REALTRACS #1942336 | $699,000 | — |
| Jun 6, 2018 | Withdrawn REALTRACS #1918016 | — | |
| May 30, 2018 | Expired REALTRACS #1836100 | $799,000 | — |
| Apr 6, 2018 | Listed (Active) REALTRACS #1918016 | $799,000 | — |
| Jun 10, 2017 | Listed (Active) REALTRACS #1836100 | $799,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 10/02/2025 | Listed (Active) REALTRACS #3008963 | $799,900 |
| 09/24/2025 | Withdrawn REALTRACS #2816260 | $799,900 |
| 08/19/2025 | Contract - Showing REALTRACS #2816260 | — |
| 06/07/2025 | Price Change REALTRACS #2816260 | $824,000 |
| 05/27/2025 | Price Change REALTRACS #2816260 | $825,000 |
| 04/19/2025 | Price Change REALTRACS #2816260 | $885,000 |
| 04/10/2025 | Listed (Active) REALTRACS #2816260 | $995,000 |
| 12/31/2024 | Expired REALTRACS #2582807 | $749,500 |
| 05/05/2024 | Contract - Showing REALTRACS #2582807 | — |
| 03/25/2024 | Price Change REALTRACS #2582807 | $749,900 |
| 03/19/2024 | Price Change REALTRACS #2582807 | $764,500 |
| 02/28/2024 | Price Change REALTRACS #2582807 | $769,500 |
| 10/04/2023 | Listed (Active) REALTRACS #2582807 | $779,900 |
| 03/27/2021 | Closed REALTRACS #2057236 | $410,000 |
| 03/25/2021 | Closed (Public Record) Public Record #1506409616 | $410,000 |
| 06/04/2020 | Contract - Not Showing REALTRACS #2057236 | — |
| 05/11/2020 | Price Change REALTRACS #2057236 | $424,900 |
| 07/02/2019 | Listed (Active) REALTRACS #2057236 | $650,000 |
| 06/20/2018 | Active - Not Showing REALTRACS #1942336 | — |
| 06/19/2018 | Listed (Active) REALTRACS #1942336 | $699,000 |
| 06/06/2018 | Withdrawn REALTRACS #1918016 | — |
| 05/30/2018 | Expired REALTRACS #1836100 | $799,000 |
| 04/06/2018 | Listed (Active) REALTRACS #1918016 | $799,000 |
| 06/10/2017 | Listed (Active) REALTRACS #1836100 | $799,000 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 151 Covington Lane
Schools near 151 Covington Lane
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | PK to 11 |
Rating | School | Distance |
|---|---|---|
Centennial Elementary School PublicPK to 5 | ||
Dickson Middle School Public6 to 8 | ||
Dickson County High School Public9 to 12 | ||
Special Services PublicPK to 11 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Realty One Group Music City, William (Trey) Sugg (615.943.1644)
Based on information submitted to the MLS GRID as of 03/16/2026 08:29 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.
