Data updated 2026-08-10 · 75 active rental listings analyzed · 274 SFR sales in comp window
$1,275
3BR Median Rent
$150K
Median SFR Price
5.8%
Est. Cap Rate
10.2%
Gross Yield
Rental Market by Bedroom — Parkway Village-Oakhaven
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
$820/mo
$820 – $820
1 listings
2BR
$960/mo
$795 – $1,035
11 listings
3BR
$1,275/mo
$1,150 – $1,425
44 listings
4BR
$1,595/mo
$1,450 – $1,695
16 listings
5BR
$1,395/mo
$1,395 – $1,625
3 listings
Investment Return Estimate
At the median Parkway Village-Oakhaven SFR sale price of $150,378, using median 3BR rent. Estimates assume 8% management fee, $2,105/yr taxes, $1,100/yr insurance, and $1,224/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 75 live competing Parkway Village-Oakhaven 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 Parkway Village-Oakhaven, Memphis?
Based on 44 active 3-bedroom rental listings in Parkway Village-Oakhaven as of 2026-08-10, the median asking rent is $1,275/mo (range: $1,150–$1,425/mo). Rents vary by condition, renovations, and included amenities.
What is the cap rate for rental properties in Parkway Village-Oakhaven?
The estimated cap rate in Parkway Village-Oakhaven is approximately 5.8%, based on a median SFR sale price of $150,378 and a median 3-bedroom annual rent of $15,300. This is a gross-income-based estimate; actual returns depend on condition, vacancy, and financing.
What is the gross rental yield in Parkway Village-Oakhaven?
The estimated gross yield in Parkway Village-Oakhaven is 10.2%, calculated from 274 SFR sales and 117 active rental listings. Gross yield does not account for expenses; net operating income is estimated at $8,729/yr at median price and rent.
How does a Memphis property management company price rent for Parkway Village-Oakhaven?
Professional property managers in Memphis typically reference active competing listings, vacancy rates, and unit condition. LPS uses a live database of 75 comparable listings in Parkway Village-Oakhaven 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 $1,275/mo property in Parkway Village-Oakhaven, that is approximately $102/mo in management fees.
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