Data updated 2026-06-29 · 275 active rental listings analyzed · 265 SFR sales in comp window
$1,950
3BR Median Rent
$350K
Median SFR Price
3.2%
Est. Cap Rate
6.4%
Gross Yield
Rental Market by Bedroom — Midtown
Median asking rent, interquartile range, and active comp count. Source: live Memphis MLS rental listings, updated 2026-06-29.
Size
Median Rent
Typical Range (P25–P75)
Active Comps
1BR
$935/mo
$799 – $1,190
111 listings
2BR
$1,070/mo
$890 – $1,395
132 listings
3BR
$1,950/mo
$1,635 – $2,595
25 listings
4BR
$2,215/mo
$1,850 – $2,300
4 listings
5BR
$3,250/mo
$2,795 – $3,495
3 listings
Investment Return Estimate
At the median Midtown SFR sale price of $350,000, using median 3BR rent. Estimates assume 8% management fee, $4,900/yr taxes, $1,100/yr insurance, and $1,778/yr maintenance reserve.
Our numbers come from an operated book, not estimates. Across 35 LPS-managed STR properties with at least 4 months of operational history, our portfolio runs within 0.1 percentage point of each property's own-zip Airbtics market median occupancy — at-market, verified against two independent commercial data sources. For LTR, we reference 275 live competing Midtown listings to price each door, updated weekly.
We don't claim a premium we can't prove. Our proposals include the actual comp data behind every number.
What does a 3-bedroom house rent for in Midtown, Memphis?
Based on 25 active 3-bedroom rental listings in Midtown as of 2026-06-29, the median asking rent is $1,950/mo (range: $1,635–$2,595/mo). Rents vary by condition, renovations, and included amenities.
What is the cap rate for rental properties in Midtown?
The estimated cap rate in Midtown is approximately 3.2%, based on a median SFR sale price of $350,000 and a median 3-bedroom annual rent of $23,400. This is a gross-income-based estimate; actual returns depend on condition, vacancy, and financing.
What is the gross rental yield in Midtown?
The estimated gross yield in Midtown is 6.4%, calculated from 265 SFR sales and 24 active rental listings. Gross yield does not account for expenses; net operating income is estimated at $11,339/yr at median price and rent.
How does a Memphis property management company price rent for Midtown?
Professional property managers in Memphis typically reference active competing listings, vacancy rates, and unit condition. LPS uses a live database of 275 comparable listings in Midtown with per-bedroom pricing to establish asking rent for each new property, updated weekly from portal data.
What does LPS (Longstep Property Solutions) charge for property management in Memphis?
LPS charges 8% of monthly rent for long-term rental management. There are no lease renewal fees or vacancy fees. On a $1,950/mo property in Midtown, that is approximately $156/mo in management fees.
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