5+ Days Ago
Highlights
Pet Friendly
Location
515 E Merrill St #517-1-2-517-5EMERRILLST, Indianapolis, IN 46203, USA|Downtown Indianapolis
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Property Overview
Located in a vibrant neighborhood, the property offers spacious interiors and modern amenities, making it appealing to a diverse range of residents. Its proximity to local attractions enhances convenience and lifestyle options. Additionally, the solid construction and well-maintained grounds contribute to a comfortable living environment.
This summary uses Zumper’s proprietary data. “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- Package service
Great for
Social life
Pet owners
Amenities for 515 E Merrill St, Downtown Indianapolis
Apartment Amenities
| Air Conditioning | Balcony |
| Carpet | Dryer |
| On Street | Tile |
Appliances
| Dishwasher | In-Unit Laundry |
| Refrigerator |
Building
| Cats OK | Dogs OK |
| Onsite Laundry |
Services
| Package Service |
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
Dog policy
| Allowed |
|---|
Cat policy
| Allowed |
|---|
Contact for more information on pet policy.
Building details
Property details
| Lease terms | 12+ months |
|---|
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About 515 E Merrill St
Home
Apartments in IndianapolisDowntown Indianapolis 515 E Merrill St #517-1-2-517-5EMERRILLST, Indianapolis, IN 46203, USA
Apartments in IndianapolisDowntown Indianapolis 515 E Merrill St #517-1-2-517-5EMERRILLST, Indianapolis, IN 46203, USA
Sweet deal!
This listing is 57% below the median price for 2 bedroom apartments in Downtown Indianapolis.
Charming 2-bedroom, 1-bathroom upstairs unit in Downtown Indy. Featuring a cute kitchen with appliances, private balcony, in-unit washer/dryer, AC, and more! This home offers convenient access to shops, restaurants, parks, and all the excitement of city living.18-month lease preferred. Note: In addition to the monthly rent, residents will pay $45 each month for a Resident Benefits Package. Details: www threaltyinc com rbp 3D Tour: https www zillow com view-imx e78c7773-eabe-4fa6-b15d-8eadc7c51a0f?setAttribution=mls&wl=true&initialViewType=pano&utm_source=dashboard Zero Deposit option for qualified applicants. Details can be found here: https www threaltyinc com our-deposit-waiver-program
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 515 E Merrill St, Indianapolis, IN 46203, USA compares to other nearby properties.
Positives
- Middle school nearby
- There is a middle school 1 mile away
- Package service
- More secure storage for delivery
Considerations
- Greater distance from high schools
- The nearest high school is farther than 1 mile away
- Greater distance from grade schools
- The nearest elementary school is farther than 1 mile away
- Lacks images
- Fewer than 10 photos are available for this address
Address details
| Neighborhood | Downtown Indianapolis |
|---|---|
| Zip code | 46203 |
| Type | Condo for rent |
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Rent trends in Downtown Indianapolis
2-bedroom apartments at 515 E Merrill St cost about 57% less than the average rent price for 2-bedroom apartments in Indianapolis.
Median rents as of Sep 6 2025.
Downtown Indianapolis
Indianapolis
| Month | Median Rent |
|---|---|
| September 2023 | $1,305 |
| October 2023 | $1,307 |
| November 2023 | $1,292 |
| December 2023 | $1,285 |
| January 2024 | $1,249 |
| February 2024 | $1,234 |
| March 2024 | $1,311 |
| April 2024 | $1,305 |
| May 2024 | $1,349 |
| June 2024 | $1,338 |
| July 2024 | $1,380 |
| August 2024 | $1,377 |
| September 2024 | $1,384 |
| October 2024 | $1,394 |
| November 2024 | $1,392 |
| December 2024 | $1,378 |
| January 2025 | $1,389 |
| February 2025 | $1,389 |
| March 2025 | $1,333 |
| April 2025 | $1,312 |
| May 2025 | $1,322 |
| June 2025 | $1,312 |
| July 2025 | $1,298 |
| August 2025 | $1,290 |
| September 2025 | $1,271 |
| Month | Median Rent |
|---|---|
| September 2023 | $2,059 |
| October 2023 | $2,013 |
| November 2023 | $1,965 |
| December 2023 | $2,094 |
| January 2024 | $2,069 |
| February 2024 | $2,017 |
| March 2024 | $2,054 |
| April 2024 | $2,122 |
| May 2024 | $2,091 |
| June 2024 | $2,167 |
| July 2024 | $2,161 |
| August 2024 | $2,189 |
| September 2024 | $2,127 |
| October 2024 | $1,937 |
| November 2024 | $1,949 |
| December 2024 | $1,967 |
| January 2025 | $1,936 |
| February 2025 | $1,972 |
| March 2025 | $2,202 |
| April 2025 | $2,487 |
| May 2025 | $2,429 |
| June 2025 | $2,353 |
| July 2025 | $2,390 |
| August 2025 | $2,335 |
| September 2025 | $2,330 |
Affordability calculator
Can I afford to live at 515 E Merrill St #517-1-2-517-5EMERRILLST?
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
$40,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $40,000 annually to afford this 2-bedrooms monthly rent price of $1,000.
For more information on rent affordability, visit our rent calculator.
Rent history
The increase or decrease in monthly rent compared to the previous listing price.| Bath | |||||
|---|---|---|---|---|---|
| 1 year ago | $900 | 2 bed | 1 bath |
Schools near 515 E Merrill St
Frederick Douglass School 19
2020 dawson st
indianapolis, IN, 46203
PK, K-8Public
C-
Ips - Butler Lab at William Bell 60
3330 n pennsylvania
indianapolis, IN, 46205
PK, K-8Public
C+
Francis Bellamy Pre-School Center
9501 e 36th st
indianapolis, IN, 46236
PKPublic
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Internet available near 515 E Merrill St
Getting around Indianapolis near 515 E Merrill St #517-1-2-517-5EMERRILLST
Walking
7/10
Grab your reusable bags–many shops and stores are within walking distance.
Driving
9/10
Commuting is easy with multiple accessible routes and plenty of parking.
Cycling
8/10
Peddling isn’t a problem with cyclist-friendly streets and bikeable destinations.
Transit
5/10
Frequent public transit options are within walking distance.
Points of interest for 515 E Merrill St #517-1-2-517-5EMERRILLST, Indianapolis
Groceries
6/10
At least one supermarket within a 20-minute walk
Shopping
5/10
Several shops within walking distance
Cafes
5/10
Some cafés within a few minutes’ walk
Restaurants
7/10
Variety of restaurants within a few minutes' walk
Primary schools
10/10
At least one elementary school within a 5-minute walk
High schools
10/10
At least one high school within a 5-minute walk
Parks
6/10
Moderate amount of park space nearby
Nightlife
7/10
Several bars within a few minutes’ walk
Other units at this address
515 E Merrill St, Indianapolis, IN
515 E Merrill St Indianapolis, IN
Occupied
517-1-2
2 Beds
1 Bath
$900
Balcony • Dishwasher • Carpet • On-Site Laundry • In-Unit Laundry
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