Data updated 2026-09-28 · 146 active rental listings analyzed · 119 SFR sales in comp window
$1,195
3BR Median Rent
$98K
Median SFR Price
8.3%
Est. Cap Rate
13.8%
Gross Yield
Rental Market by Bedroom — South Memphis
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
$775/mo
$695 – $795
19 listings
2BR
$849/mo
$700 – $1,000
64 listings
3BR
$1,195/mo
$1,025 – $1,295
42 listings
4BR
$1,395/mo
$1,350 – $1,595
17 listings
5BR
$2,092/mo
$1,795 – $2,092
4 listings
Investment Return Estimate
At the median South Memphis SFR sale price of $97,639, using median 3BR rent. Estimates assume 8% management fee, $1,367/yr taxes, $1,100/yr insurance, and $1,080/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 146 live competing South Memphis 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.
Frequently Asked Questions — South Memphis Rental Market
What does a 3-bedroom house rent for in South Memphis, Memphis?
Based on 42 active 3-bedroom rental listings in South Memphis as of 2026-09-28, the median asking rent is $1,195/mo (range: $1,025–$1,295/mo). Rents vary by condition, renovations, and included amenities.
What is the cap rate for rental properties in South Memphis?
The estimated cap rate in South Memphis is approximately 8.3%, based on a median SFR sale price of $97,639 and a median 3-bedroom annual rent of $14,340. This is a gross-income-based estimate; actual returns depend on condition, vacancy, and financing.
What is the gross rental yield in South Memphis?
The estimated gross yield in South Memphis is 13.8%, calculated from 119 SFR sales and 85 active rental listings. Gross yield does not account for expenses; net operating income is estimated at $8,063/yr at median price and rent.
How does a Memphis property management company price rent for South Memphis?
Professional property managers in Memphis typically reference active competing listings, vacancy rates, and unit condition. LPS uses a live database of 146 comparable listings in South Memphis 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 $1,195/mo property in South Memphis, that is approximately $96/mo in management fees.
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