MALLARD COVE IS A PEACEFUL GATED COMMUNITY WITH COVERED PARKING, SWIMMING POOL, PICNIC PAVILLION, PLAYGROUND, WALKING TRAIL AND NEW CLUBHOUSE. THE COMPLEX IS LOCATED IN COVINGTON TN WHICH IS ABOUT 45 MINUTES NORTH OF MEMPHIS. - PLEASE SEE ATTACHED PROPOSAL FOR COMPLETE LISTING DETAILS.

Property Description

Mallard Cove Condominiums

S. College Street

Covington, TN 38019

This property is a 48 unit condominium

community on 3.85 acres. It is located at the

corner of Mueller Brass Road and S. College

Street in Covington, TN.

Mallard Cove was built in 1989 and is in

excellent condition. This peace gated community

offers covered parking, a swimming pool, a

picnic pavillion, a playground, gas and charcoal

grills, a walking trail, and a new clubhouse. Visit

www.mallardcovecondos.com for more photos

and information about this property.

13 - 1 BR/1BA 712 SF (4 are Handicap Accessible)

15 - 2BR/1BA 963 SF

13 - 2BR/2BA 1,092 SF (1 is Handicap Accessible)

Covington is located about 40 miles north of Memphis with US Hwy 51 linking the two cities.

Covington has a small town atmosphere and way of life, yet offers many things that are found in larger municipalities.

Real Estate Investment Details

ANALYSIS

Analysis Date

November 2014

PROPERTY

Property

Mallard Cove Condominiums

Property Address

S. College Street

Covington, TN 38019

Year Built1989

FINANCIAL

INFORMATION

All Cash

PURCHASE

INFORMATION

Property Type MultiFamily

Purchase Price Undisclosed

Units

41

Total Rentable Sq. Ft.

37,897

INCOME

&

EXPENSES

Gross Operating Income

$303,061

Monthly GOI

$25,255

Total Annual Expenses

($115,569)

Monthly Expenses

($9,631)

MULTI-FAMILY UNITS