Zumper
modified
5+ Days Ago

Highlights

  • Prime location
  • In-unit laundry
  • Spacious bedrooms
  • Large windows
  • Sleek design
  • Brand new appliances

Location

116 South Indiana Avenue, Bloomington, Indiana 47408, United States
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Tour Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave!

Contact

Management

Waters Edge Apartments

Leasing office

(812) 339-8777

Property Overview

The Brand-New Penthouse Studio, along with 2 and 3 Bed Apartments on Indiana Ave, showcases an impressive overall Zumper rating of 8.3, reflecting its strong appeal to renters. With competitive pricing and high marks for amenities, location, and trustworthiness, this property is positioned as a premier option in the market. Notable features include spacious bedrooms, in-unit laundry, large windows, and a sleek design, all within a vibrant area offering abundant entertainment and dining options.

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.

Zumper Expert Rating

8.3
Very Good
With a solid 8.3 out of 10 overall, Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave! is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave! has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.

Things you’ll love

  • High school nearby
  • More space
  • Elementary school nearby

Great for

  • Social life

Floor plans

0BR/1.0BAStudio1 bath443 sqft$1,549 /mo1 unit availableBRAND NEW!! Furnished studio just steps from the Sample Gates and IU campus. Sleek design with full kitchen, in-unit laundry, and large windows located on the top floor of a boutique building, right on Indiana Ave. Perfect for one person looking for walkability and convenience in the heart of Bloomington.
2BR/2.0BA2 bed2 bath1,077 sqft$2,596 /mo1 unit availableBRAND NEW 2 BED/2 BATH!! Bright and spacious unit with open living area, full kitchen, and in-unit laundry. Great setup for roommates with two full bathrooms. Prime location on Indiana Ave, just a short walk to the Sample Gates and all that downtown Bloomington has to offer.

Let's explore this property.

Amenities for Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave!

Appliances

DishwasherIn-Unit Laundry
MicrowaveOven
RefrigeratorWasher and Dryer
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
Building details

Property details

Units5
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About Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave!

HomeApartments in Bloomington Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave!

You can’t get closer to the action – these brand-new penthouse apartments on Indiana Avenue are just steps from the IU Sample Gates, right in the heart of campus and Bloomington’s best restaurants, coffee shops, and local hotspots. These modern units feature brand new appliances, spacious bedrooms, and in-unit washer & dryer! Thoughtfully designed layouts offer both comfort and style in one of the most walkable locations in town. Located directly on Indiana Avenue, you're less than a 5-minute walk to classes, the library, and all your favorite Kirkwood spots.


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 Good
With a solid 8.3 out of 10 overall, Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave! is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave! has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
How we rated Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave!
Price·9A 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.
Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave! stands out with a remarkable rating of 9/10 for its cost per bedroom compared to other rentals in the area. Considering the excellent balance between price, convenience, and comfort that it provides, residents enjoy a high-quality living experience.
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.
Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave! goes above and beyond to provide sought-after conveniences and desirable perks, including dishwasher. Renters looking for popular or luxurious features will find them here—and for that reason, Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave! 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.
Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave! 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 Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave! 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.
Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave! 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.

Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave! is great for:

Social life

  • Areas nearby are accessible by walking
  • 200 restaurants within 1 mile of this property
  • The area has transit options
  • 39 theaters, music venues, or sports arenas nearby

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 Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave! compares to other nearby properties.

Positives

High school nearby
There is a high school 0.3 mile away
More space
The 2-bedroom is 213 sqft larger than other listings nearby
Elementary school nearby
There is an elementary school 0.4 mile away

Considerations

Greater distance from middle schools
The nearest middle school is farther than 1 mile away
Lacks images
Fewer than 10 photos available for this location

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Rent trends in Bloomington

Studio apartments at Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave! cost about 52% more than the average rent price for studios in Bloomington.

If you decide to upgrade your space, you can expect 2-bedrooms at Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave! to be 67% more than the average for similarly sized apartments in Bloomington.

Median rents as of Jan 10 2026.
Bloomington
A table of studio rental data trends in Bloomington
MonthMedian Rent
February 2024$1,105
March 2024$1,292
April 2024$1,305
May 2024$1,170
June 2024$1,184
July 2024$1,165
August 2024$1,207
September 2024$1,254
October 2024$1,309
November 2024$1,298
December 2024$1,301
January 2025$1,297
February 2025$1,298
March 2025$1,278
April 2025$1,280
May 2025$1,215
June 2025$1,011
July 2025$1,047
August 2025$1,025
September 2025$1,050
October 2025$1,091
November 2025$1,001
December 2025$1,019
January 2026$1,020

Affordability calculator

Can I afford to live at 116 South Indiana Avenue?

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

$61,960/yr

With your selected rent-to-income ratio, you'd ideally want to make $61,960 annually to afford this studio monthly rent price of $1,549.
For more information on rent affordability, visit our rent calculator.

Schools near Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave!

University Elementary School

1111 n russell rd

bloomington, IN, 47408

PK, K-6Public
A
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Internet available near Brand-New Penthouse Studio, 2, and 3 Bed Apartments on Indiana Ave!

Neighborhood

NEIGHBORHOOD VIBE
Peaceful and quiet
Noise-canceling headphones not required in this mostly noise free area.

Getting around Bloomington near 116 South Indiana Avenue

Walking

8/10
Grab your reusable bags–many shops and stores are within walking distance.

Driving

5/10
This area is accessible to thoroughfares and has ample parking options.

Cycling

8/10
Helmets on–you can get anywhere in this cyclist-friendly, well-connected area.

Transit

5/10
Frequent public transit options are within walking distance.

Points of interest for 116 South Indiana Avenue, Bloomington

Groceries

9/10
At least one supermarket within a 10-minute walk

Shopping

7/10
Several shops within a few minutes’ walk

Cafes

6/10
Some cafés within a few minutes’ walk

Restaurants

8/10
Variety of restaurants within a few minutes' walk

Primary schools

8/10
At least one elementary school within a 10-minute walk

High schools

1/10
Closest high school further than a 30-minute walk

Nightlife

8/10
Several bars within a few minutes’ walk

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