Real numbers.
Real properties. Real Memphis.
Five single-family homes. Fourteen months of data. No projections, no cherry-picked months — just what happened when professional short-term rental operations met the Memphis market.
Five standard Memphis homes.
These are not luxury listings or destination properties. Standard 2–3 bedroom single-family homes in established neighborhoods, priced $130K to $200K. All managed full-service by LPS from day one. The numbers below reflect what consistent, professional Memphis Airbnb management produces on typical inventory.
Zero to stabilized, 90 days.
Every new STR listing starts cold — no reviews, no search ranking, no booking history. The first 90 days determine whether a Memphis Airbnb becomes a consistent performer or sits empty burning cash. Here's what LPS's launch process produces on a real property.
| Month | Occ | ADR | Gross |
|---|---|---|---|
| Month 1 — setup | 11% | $60 | $255 |
| Month 2 | 87% | $84 | $3,228 |
| Month 4 | 100% | $95 | $4,842 |
| Month 9 | 100% | $114 | $4,682 |
| 14-month total | 86% | $95 | $51,861 |
Nightly rate went from $60 in setup to $114 in month 9 — a 90% increase. Not luck. The result of SEO-driven listing optimization, dynamic pricing that adjusts daily, and a review-accumulation strategy that pushes the property higher in Airbnb search every month. A second property in the same portfolio hit 100% occupancy within 60 days. The ramp is repeatable, not property-dependent.
Memphis is not a
vacation market — and
that's the opportunity.
Over 40% of LPS guests book within 48 hours of arrival. They're driving through on I-40, traveling for work at FedEx or St. Jude, visiting family, or here for events. They have pets. They need one or two nights. That demand pattern means Memphis STR income doesn't depend on a single tourist season or employer.
While other managers set two-night minimums and lose half the market, LPS leans into the way Memphis actually works — one-night stays, pet-friendly policies, and 45-minute turnovers that unlock more bookable nights per month.
Why nightly rates climb over time.
New listings start with low rates to build reviews. As a property accumulates 5-star ratings, the algorithm pushes it higher in search — which lets us raise the nightly rate without sacrificing occupancy. This is the flywheel that separates professionally managed Memphis STRs from self-managed ones.
Across this five-property portfolio, nightly rates increased 40–90% from launch to stabilized. Portfolio ADR grew from $88 in 2025 to $91 in Q1 2026 — during the slowest quarter of the year. Summer rates typically run 20–40% higher. LPS maintains an 85% five-star rating across 6,000+ verified guest reviews, which is the engine that drives this pricing power.
The work most
managers outsource —
we do in-house.
LPS is fully vertically integrated — the largest locally owned short-term rental property manager in Memphis. No third parties for cleaning, maintenance, or laundry. The owner of this case study portfolio has never visited three of the five properties since they went live.
Flat 10% of gross. Lowest management fee in Memphis.
The industry standard in Memphis is 15–25%. Cleaning, maintenance, and supplies are billed at cost, as they occur. Every dollar documented in your monthly owner statement.
$500 one-time onboarding fee covers listing build, photography coordination, and launch. Waived for portfolio owners.
The infrastructure
behind the results.
The cost of
average performance.
The average Memphis STR runs 57% occupancy. LPS properties in this portfolio averaged 86%. That gap isn't a rounding error — it's the difference between professional operations and everything else. Here's what it looks like in dollars across five real properties.
in additional gross revenue per year across five properties — $13,260 per property per year that self-managed and underperforming listings never capture.
Market-average column uses the same nightly rate as LPS — only the occupancy gap. In reality, unoptimized listings also run lower ADR because they lack the review volume and search ranking. Factor that in and the gap widens to 40–45% less revenue at market average. These are 2–3 bedroom homes averaging $171K purchase price. Standard Memphis inventory.
Four owners.
Different portfolios.
Same story.
We have 6 properties with LPS and would never consider doing this on our own.
I'm averaging over 20 booked nights a month and I've never had to deal with a single guest issue.
First full month with LPS our net income jumped and hasn't come back down.
Thank you for an INSANE March for my Airbnb. Pretty pumped for peak season.
What this means
for your numbers.
Every owner's situation is different — purchase price, financing, tax position, goals. What LPS controls is the top line: occupancy, nightly rate, guest experience, operational cost.
To see how LPS-level performance translates to your specific deal, use our Memphis Rental Investment Calculator. Plug in your costs and loan terms — it scores the deal across 10 professional underwriting metrics.
Want to do your own due diligence on a Memphis ZIP? Check the Memphis crime map we built from MPD's open data feed. Same source we use internally.
Want to see what
LPS can do with
your property?
We'll run a custom revenue projection using real market comps from our Memphis portfolio — not calculator defaults.
Get your free analysisPerformance data reflects actual results from a five-property Memphis STR portfolio managed by Longstep Property Solutions, Feb 2025 – Mar 2026. Past performance does not guarantee future results. Revenue, occupancy, and nightly rates vary by property, location, condition, and market. This is not financial, tax, or legal advice.