Monthly rent

$1,545

Beds

Baths

Sqft

1,232

Monthly rent	$1,545
Beds	3
Baths	2
Sqft	1,232

30 Minutes Ago

Location

261 Gracewood St, Memphis, TN 38112, USA|Binghampton-Lester

Tour 261 Gracewood St

Contact

(351) 200-7199

About 261 Gracewood St

Your estimated total monthly payment is: $1,577.94 The total estimated monthly payment is comprised of the following: Mandatory Fees: Base Rent - $1,545 Smart Home Fee - $22.95 (smart front door lock and smart thermostat) Utility Management - $9.99 (services for managing utility accounts) Additionally, a one-time set-up fee of $30.00 is charged on your first month's bill. Optional Fees: Animal Fees - Approved animals incur a non-refundable pet fee of $250 per animal and a monthly pet rent of $30 per animal (subject to applicable law). Pet fees and pet rent do not apply to service or support animals. Please note that we have breed restrictions, including but not limited to Pit Bull Terriers, Doberman Pinschers, Rottweilers, Staffordshire Terriers, German Shepherds, Chows, Bull Mastiffs, Huskies, Alaskan Malamutes, Wolf Dog Hybrids, Great Danes, St. Bernards, Akitas, and Rhodesian Ridgebacks, as well as any mixed breeds containing these types. Other Fees: In addition to the total monthly payment, Tenant(s) are also responsible for additional costs including, but not limited to, utilities, optional services, conditional and other applicable charges. All fees are subject to change and will be outlined in the lease agreement. Tours: To ensure a secure process, please schedule tours and apply for our properties exclusively through the official Evergreen Live website. Property Description: Come view this beautiful 3 bedroom, 2 bathroom home located off of Summer Ave! More photos coming soon. Listing Disclosures: All leasing information is believed to be accurate; however, photos are representative only and may not reflect current appliances and/or features of the home. Square footage is estimated, and prices, specials and dates may change without notice and are not guaranteed until a lease agreement is executed. Application: An application fee of $50 per applicant for 18 and over is required, and the minimum lease term is one year (12 months). Completed applications are reviewed on a first-come, first-served basis, and the security deposit varies based upon TransUnion Resident Score credit criteria. You must have a verifiable source of income that is at least three times the monthly rent. After you submit your lease application, all adult applicants receive an invitation from our income verification service, Payscore, with a link to guide you through your income verification. All applicants must complete the process within 48 hours of receiving an invite or your application may be delayed or not approved. This home accepts Housing Choice Vouchers! Please ensure your Housing Voucher, RTA Packet, and Affordability Sheet (if applicable) is attached to your application as proof of income. Please be aware that rental fraud and rental scams are on the rise. Evergreen Live will never ask you to pay any amounts in cash, transfer money via wire, prepaid or digital gift cards, send MoneyGram, or request funds through Zelle or any non-Evergreen Live payment app, such as Venmo, PayPal, Apple Pay, or others

Neighborhood

Binghampton-Lester

Zip code

38112

Type

House for rent

Rent trends in Binghampton-Lester

3-bedroom apartments at 261 Gracewood St cost about 13% more than the average rent price for 3-bedroom apartments in Binghampton-Lester.

Median rents as of Sep 27 2025.

Binghampton-Lester

Memphis

A table of 3-bedroom apartment rental data trends in Memphis
Month	Median Rent
October 2023	$1,375
November 2023	$1,368
December 2023	$1,368
January 2024	$1,355
February 2024	$1,350
March 2024	$1,378
April 2024	$1,397
May 2024	$1,398
June 2024	$1,397
July 2024	$1,399
August 2024	$1,398
September 2024	$1,407
October 2024	$1,396
November 2024	$1,395
December 2024	$1,395
January 2025	$1,395
February 2025	$1,395
March 2025	$1,408
April 2025	$1,415
May 2025	$1,436
June 2025	$1,443
July 2025	$1,424
August 2025	$1,399
September 2025	$1,368

A table of 3-bedroom apartment rental data trends in Binghampton-Lester
Month	Median Rent
October 2023	$1,230
November 2023	$1,235
December 2023	$1,274
January 2024	$1,220
February 2024	$1,196
March 2024	$1,206
April 2024	$1,204
May 2024	$1,235
June 2024	$1,264
July 2024	$1,395
August 2024	$1,315
September 2024	$1,297
October 2024	$1,185
November 2024	$1,195
December 2024	$1,243
January 2025	$1,274
February 2025	$1,199
March 2025	$1,126
April 2025	$1,100
May 2025	$1,269
June 2025	$1,262
July 2025	$1,431
August 2025	$1,494
September 2025	$1,423

Affordability calculator

Can I afford to live at 261 Gracewood St?

Bedrooms

3 bedrooms

Rent-to-income ratio

30%

Slide to adjust the percentage of your monthly income you are willing to spend on rent.

The general rule of thumb is to spend around 30% or less of your income on rent.

Recommended income

$61,800/yr

With your selected rent-to-income ratio, you'd ideally want to make $61,800 annually to afford this 3-bedrooms monthly rent price of $1,545.

For more information on rent affordability, visit our rent calculator.

Schools near 261 Gracewood St

Points of interest for 261 Gracewood St, Memphis

Groceries

8/10

At least one grocery store within a few minutes' walk

Shopping

4/10

Some shops within walking distance

Cafes

5/10

Some cafés within walking distance

Restaurants

5/10

Some restaurants within walking distance

Primary schools

8/10

At least one elementary school within a 10-minute walk

High schools

8/10

At least one high school within a 10-minute walk

Parks

6/10

Moderate amount of park space nearby

Nightlife

3/10

Few or no bars within walking distance

Explore the area around 261 Gracewood St

Kings' Drive in Grocery

306 Tillman St

D J's Grocery

3152 Johnson Ave

Lucky Food Center

3152 Johnson Ave

Summer Grocery

3083 Summer Ave

Three Star Market

3085 Summer Ave

261 Gracewood St261 Gracewood St, Memphis, TN 38112, USA

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Schools near 261 Gracewood St

Brewster Elementary School

University of Memphis - University Campus School

Early Childhood Program Partnering Centers

Avon School

Ida B. Wells Academy

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Points of interest for 261 Gracewood St, Memphis

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Homes in Binghampton-Lester

261 Gracewood St
261 Gracewood St, Memphis, TN 38112, USA