Data updated 2026-09-28 · 265 active rental listings analyzed · 279 SFR sales in comp window
$1,740
3BR Median Rent
$353K
Median SFR Price
2.9%
Est. Cap Rate
5.9%
Gross Yield
Rental Market by Bedroom — Midtown
Median asking rent, interquartile range, and active comp count. Source: live Memphis MLS rental listings, updated 2026-09-28.
Size
Median Rent
Typical Range (P25–P75)
Active Comps
1BR
$930/mo
$799 – $1,143
105 listings
2BR
$1,095/mo
$895 – $1,650
103 listings
3BR
$1,740/mo
$1,695 – $1,940
37 listings
4BR
$2,500/mo
$2,195 – $3,395
14 listings
5BR
$2,800/mo
$2,000 – $3,495
6 listings
Investment Return Estimate
At the median Midtown SFR sale price of $353,000, using median 3BR rent. Estimates assume 8% management fee, $4,942/yr taxes, $1,100/yr insurance, and $1,670/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 265 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 37 active 3-bedroom rental listings in Midtown as of 2026-09-28, the median asking rent is $1,740/mo (range: $1,695–$1,940/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 2.9%, based on a median SFR sale price of $353,000 and a median 3-bedroom annual rent of $20,880. 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 5.9%, calculated from 279 SFR sales and 61 active rental listings. Gross yield does not account for expenses; net operating income is estimated at $10,244/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 265 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 $1,740/mo property in Midtown, that is approximately $139/mo in management fees.
Get a Free Property Underwriting Report for Your Midtown Address
We'll pull the live comp set, run the LTR and STR projections, and show you the actual numbers — no estimates, no guesswork.