Data updated 2026-08-10 · 172 active rental listings analyzed · 272 SFR sales in comp window
$1,795
3BR Median Rent
$351K
Median SFR Price
3.1%
Est. Cap Rate
6.1%
Gross Yield
Rental Market by Bedroom — Midtown
Median asking rent, interquartile range, and active comp count. Source: live Memphis MLS rental listings, updated 2026-08-10.
Size
Median Rent
Typical Range (P25–P75)
Active Comps
1BR
$975/mo
$800 – $1,250
78 listings
2BR
$1,099/mo
$950 – $1,350
68 listings
3BR
$1,795/mo
$1,600 – $1,950
21 listings
4BR
$1,825/mo
$1,795 – $2,125
3 listings
5BR
$3,495/mo
$3,000 – $3,495
2 listings
Investment Return Estimate
At the median Midtown SFR sale price of $351,200, using median 3BR rent. Estimates assume 8% management fee, $4,917/yr taxes, $1,100/yr insurance, and $1,723/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 0.6 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 172 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 21 active 3-bedroom rental listings in Midtown as of 2026-08-10, the median asking rent is $1,795/mo (range: $1,600–$1,950/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 3.1%, based on a median SFR sale price of $351,200 and a median 3-bedroom annual rent of $21,540. 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 6.1%, calculated from 272 SFR sales and 35 active rental listings. Gross yield does not account for expenses; net operating income is estimated at $10,784/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 172 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 $1,795/mo property in Midtown, that is approximately $144/mo in management fees.
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