8 Hours Ago
Location
1515 3rd Ave Ne, Rochester, MN 55906, USA
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Property Overview
Silver Lake Apartments Bldg 3 offers strong overall value with an expert rating of 8.3/10, highlighted by an excellent 10/10 price rating and a premier amenities package supported by high-speed internet and utilities included. Its 9/10 location rating reflects convenient access to restaurants, parks, walkable nearby areas, and a nearby top-rated middle school, while a 7/10 trustworthiness score indicates transparent, detailed property information. The quiet environment, proximity to office supply stores, and rich social and recreational options make it appealing for both remote work and an active lifestyle.
This summary uses Zumper’s proprietary data. “Zumper Expert Ratings,” “Things you’ll love,” and “Great for” are based on our internal analyses of market trends and renter insights.
Things you’ll love
Middle school nearby
Great for
Social life
Work-from-home
Floor plans
| 1BR/1.0BA | 1 bed | 1 bath | $1,155 /mo | 1 unit available | Affordable Unfurnished Apartment. Located only 2 blocks behind Silver Lake Grocery store and other RESTAURANTS. The BUSLINE is only about 2 blocks away and brings you DOWNTOWN IN FIVE MINUTES picking up approximately every half hour or less. The neighborhood is clean, quiet, and friendly with a beautiful LAKE SIDE PARK just a few blocks away and nearby access to the extensive bike paths in Rochester. Laundry facilities are in each building. There are off-street parking spots available ($35 extra per month) otherwise plenty of 24/7 street parking available (no permit required). Owner Pays: Heat, Water, Sewer, Garbage, and Gas Resident Responsible: Electric, and if desired TV Service, Internet, & Phone Service Price is for a one year lease Rent $1155/Month Security Deposit: $1180 |
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Applicants
One-time.
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REQUIRED FEES
Security Deposit
One-time. Refundable.
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Building details
Property details
| Units | 16 |
|---|
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About Silver Lake Apartments Bldg 3
Affordable Unfurnished Apartment. Located only 2 blocks behind Silver Lake Grocery store and other RESTAURANTS. The BUSLINE is only about 2 blocks away and brings you DOWNTOWN IN FIVE MINUTES picking up approximately every half hour or less. The neighborhood is clean, quiet, and friendly with a beautiful LAKE SIDE PARK just a few blocks away and nearby access to the extensive bike paths in Rochester. Laundry facilities are in each building. There are off-street parking spots available ($35 extra per month) otherwise plenty of 24/7 street parking available (no permit required). Owner Pays: Heat, Water, Sewer, Garbage, and Gas Resident Responsible: Electric, and if desired TV Service, Internet, & Phone Service Price is for a one year lease Rent $1155/Month Security Deposit: $1180
Zumper Expert Rating
Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.3
/10
Very GoodWith a solid 8.3 out of 10 overall, Silver Lake Apartments Bldg 3 is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Silver Lake Apartments Bldg 3 has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
Price·10A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
Silver Lake Apartments Bldg 3 offers an excellent balance between price and value. It's priced competitively for its amenities, location, and other key features. Compared to the median price per bedroom in the area, this property is less than, or about the same as, nearby rentals, so residents can expect great value without too many compromises on their desired standard of living.
Amenities·8A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
With multiple in-demand amenities, Silver Lake Apartments Bldg 3 is committed to enhancing the renting experience. And while it may have fewer total conveniences and features than similar rentals nearby, it remains a top choice for renters wanting an specific standard of living.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
Silver Lake Apartments Bldg 3 is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While Silver Lake Apartments Bldg 3 does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·7A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
Silver Lake Apartments Bldg 3 provides some information about the features available in the community and its apartments, making it a reliable option for prospective renters. Renters should ask additional questions about amenities and non-negotiable items they are looking for.
Silver Lake Apartments Bldg 3 is great for:
Property highlights
We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.How Silver Lake Apartments Bldg 3 compares to other nearby properties.
Positives
- Middle school nearby
- There is a middle school 0.2 mile away
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Rent trends in Rochester
1-bedroom apartments at Silver Lake Apartments Bldg 3 cost about 17% less than the average rent price for 1-bedroom apartments in Rochester.
Median rents as of May 2 2026.
Rochester
| Month | Median Rent |
|---|---|
| May 2024 | $1,105 |
| June 2024 | $1,171 |
| July 2024 | $1,105 |
| August 2024 | $1,105 |
| September 2024 | $1,146 |
| October 2024 | $1,171 |
| November 2024 | $1,166 |
| December 2024 | $1,149 |
| January 2025 | $1,172 |
| February 2025 | $1,195 |
| March 2025 | $1,174 |
| April 2025 | $1,158 |
| May 2025 | $1,167 |
| June 2025 | $1,160 |
| July 2025 | $1,080 |
| August 2025 | $1,180 |
| September 2025 | $1,195 |
| October 2025 | $1,218 |
| November 2025 | $1,198 |
| December 2025 | $1,240 |
| January 2026 | $1,295 |
| February 2026 | $1,318 |
| March 2026 | $1,307 |
| April 2026 | $1,273 |
| May 2026 | $1,270 |
Affordability calculator
Can I afford to live at 1515 3rd Ave Ne?
Bedrooms
1 bedroomRent-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
$46,200/yr
With your selected rent-to-income ratio, you'd ideally want to make $46,200 annually to afford this 1-bedroom monthly rent price of $1,155.
For more information on rent affordability, visit our rent calculator.
Schools near Silver Lake Apartments Bldg 3
Jefferson Elementary School
1201 10th ave ne
rochester, MN, 55906
PK, K-5Public
A-
Hoover Early Learning School
369 elton hills dr nw
rochester, MN, 55901
PKPublic
Washington Elementary School
1200 11th ave nw
rochester, MN, 55901
K-5Public
B+
RPS Online Elementary School
615 7th st sw
rochester, MN, 55902
K-5Public
B
Early Childhood Intervention
615 7th street sw
rochester, MN, 55902
PKPublic
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Internet available near Silver Lake Apartments Bldg 3
Neighborhood
Getting around Rochester near 1515 3rd Ave Ne
Walking
7/10
Grab your reusable bags–many shops and stores are within walking distance.
Driving
8/10
Commuting is easy with multiple accessible routes and plenty of parking.
Cycling
8/10
Helmets on–you can get anywhere in this cyclist-friendly, well-connected area.
Transit
3/10
There are a few mass transit options within the area.
Points of interest for 1515 3rd Ave Ne, Rochester
Groceries
7/10
At least one supermarket within a 15-minute walk
Shopping
3/10
Some shops within walking distance
Cafes
6/10
Some cafés within a few minutes’ walk
Restaurants
5/10
Some restaurants within a few minutes’ walk
Primary schools
8/10
At least one elementary school within a 15-minute walk
High schools
2/10
Closest high school further than a 30-minute walk
Nightlife
4/10
Some bars within walking distance
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