9 Hours Ago
Location
2742 N 48th St, Lincoln, NE 68504, USA|University Place
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Property Overview
Madison Flats is a highly rated, verified community with an overall expert score of 8.6/10 and standout 9/10 ratings for amenities, location, and quality, indicating strong value and an elevated living experience. With a competitive price rating, excellent value-for-money ranking, detailed and transparent listing information, nearby top-rated schools, and a grocery store a little over a mile away, it offers a compelling option for many types of renters.
This summary uses Zumper’s proprietary data. “Zumper Expert Ratings” and “Things you’ll love” are based on our internal analyses of market trends and renter insights.
Things you’ll love
Elementary school nearby- Less expensive
- Dishwasher
Floor plans
| 2BR/1.0BA | 2 bed | 1 bath | 619+ sqft | $745–$895 /mo | 2 units available | Originally built in 1906, the Historic Wesleyan Hospital Building located in the University Place neighborhood at 48th & Madison Avenue has been renovated into 12 modern apartments. Modern Finishes, Washer/Dryer in each unit, Central Air Conditioning, Wood-style Flooring, New Energy Efficient Windows, Public Parking, Two Units with Private Entries, 2 Blocks from NE Wesleyan, Close to UNL East Campus, Retail Services within walking distance. This Unit Has a Den That Could Be Used As A 3rd Bedroom! |
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Amenities for Madison Flats
Appliances
| Clothes Washer/Dryer | Dishwasher |
| Garbage Disposal | Icemaker |
| In-Unit Laundry | Microwave |
| Microwave Oven | Range |
| Refrigerator | Stove |
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.
Policies and fees
Applicants
Applicants
One-time.
Contact Property
REQUIRED FEES
Security Deposit
One-time. Refundable.
Contact Property
Dog Policy
Not allowed
Cat Policy
Not allowed
No pets allowed.
Questions about this property’s policies and fees?
Building details
Property details
| Units | 12 |
|---|
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About Madison Flats
Originally built in 1906, the Historic Wesleyan Hospital Building located in the University Place neighborhood at 48th & Madison Avenue has been renovated into 12 modern apartments. Modern Finishes, Washer/Dryer in each unit, Central Air Conditioning, Wood-style Flooring, New Energy Efficient Windows, Public Parking, Two Units with Private Entries, 2 Blocks from NE Wesleyan, Close to UNL East Campus, Retail Services within walking distance. This Unit Has a Den That Could Be Used As A 3rd Bedroom!
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.
9.2
/10
ExcellentMadison Flats is an excellent find, offering residents a superior living experience with a wide range of desirable features. Residents will particularly enjoy knowing that this property rated highest in Price and Amenities, which help to make this rental a great place to call home.
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.
Madison Flats 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·9A 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.
Madison Flats goes above and beyond to provide sought-after conveniences and desirable perks, including clothes washer/dryer. Renters looking for popular or luxurious features will find them here—and for that reason, Madison Flats receives one of the highest amenities scores.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
Madison Flats 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·9A 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.
Madison Flats has a few standout characteristics that set it apart from similar properties nearby. Having both verified status and features that cater to discerning renters, this is a great option for renters looking for a specific and exceptional lifestyle.
Trustworthiness·8A 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.
The level of transparency this property provides distinguishes it as a great rental. With a high attention to detail and desirable features, renters can be sure they will get an accurate picture of their potential new home.
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 Madison Flats compares to other nearby properties.
Positives
- Elementary school nearby
- There is an elementary school 0.2 mile away
- Less expensive
- The 1-bedrooms are cheaper than other similar listings nearby
- Less expensive
- The 2-bedrooms are cheaper than other similar listings nearby
- Dishwasher
- Dishwasher available in kitchen
Considerations
- Lacks images
- Fewer than 10 photos available for this location
- No laundry facilities available
- This property doesn't offer on-site or in-unit washers and dryers
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Rent trends in University Place
2-bedroom apartments at Madison Flats cost about 25% less than the average rent price for 2-bedroom apartments in University Place.
Median rents as of Apr 25 2026.
University Place
Lincoln
| Month | Median Rent |
|---|---|
| May 2024 | $865 |
| June 2024 | $793 |
| July 2024 | $690 |
| August 2024 | $726 |
| September 2024 | $801 |
| October 2024 | $799 |
| November 2024 | $780 |
| December 2024 | $894 |
| January 2025 | $893 |
| February 2025 | $906 |
| March 2025 | $855 |
| April 2025 | $730 |
| May 2025 | $738 |
| June 2025 | $739 |
| July 2025 | $787 |
| August 2025 | $736 |
| September 2025 | $725 |
| October 2025 | $719 |
| November 2025 | $744 |
| December 2025 | $742 |
| January 2026 | $737 |
| February 2026 | $732 |
| March 2026 | $740 |
| April 2026 | $764 |
| Month | Median Rent |
|---|---|
| November 2024 | $975 |
| December 2024 | $975 |
Affordability calculator
Can I afford to live at 2742 N 48th St?
Bedrooms
2 bedroomsRent-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
$29,800/yr
With your selected rent-to-income ratio, you'd ideally want to make $29,800 annually to afford this 2-bedrooms monthly rent price of $745.
For more information on rent affordability, visit our rent calculator.
Schools near Madison Flats
Huntington Elementary School
2900 n 46th st
lincoln, NE, 68504
PK, K-5Public
C+
Early Childhood Special Education - Homebased
300 south 48th st
lincoln, NE, 68510
PKPublic
Infant Toddler at Bryan Community School
300 south 48th st
lincoln, NE, 68510
PKPublic
Educare of Lincoln
3435 north 14th st
lincoln, NE, 68521
PKPublic
Wysong Elementary School
7901 blanchard blvd
lincoln, NE, 68516
PK, K-5Public
A-
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Internet available near Madison Flats
Getting around Lincoln near 2742 N 48th St
Walking
6/10
Some shops and stores are within a few minutes.
Driving
5/10
This area is accessible to thoroughfares and has ample parking options.
Cycling
5/10
More spots are within biking distance and some roads are cyclist-friendly.
Transit
3/10
There are a few mass transit options within the area.
Points of interest for 2742 N 48th St, Lincoln
Groceries
2/10
No grocery stores within walking distance
Shopping
6/10
Variety of shops within walking distance
Cafes
6/10
Some cafés within walking distance
Restaurants
5/10
Some restaurants within walking distance
Primary schools
9/10
At least one elementary school within a 5-minute walk
High schools
2/10
No high schools within a 30-minute walk
Parks
7/10
Moderate amount of park space nearby
Nightlife
4/10
Few or no bars within walking distance
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