Zumper
modified
5+ Days Ago

Highlights

  • Central air conditioning
  • Modern finishes
  • Washer/dryer
  • Wood-style flooring
  • New energy efficient windows

Location

2742 N 48th St, Lincoln, NE 68504, USA|University Place
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Contact

Management

Concorde Management & Development, LLC

Leasing office

(402) 476-0086

Property Overview

Madison Flats is a highly rated community with an overall Zumper Expert Rating of 9.2, offering exceptional value for money, strong amenity, location, quality, and trustworthiness scores. With modern finishes, wood-style flooring, central air, in-home washer/dryer, and new energy-efficient windows, it delivers a comfortable, contemporary living experience. Convenient access to a nearby grocery store, a top-rated elementary school, multiple parks, walkable streets, and public transit also makes it a strong option for environmentally minded renters.

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

9.2
Excellent
Madison 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.

Things you’ll love

  • Elementary school nearby
  • Less expensive
  • Dishwasher

Great for

  • Eco living

Floor plans

2BR/1.0BA2 bed1 bath769 sqft$895 /mo1 unit availableOriginally 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!

Let's explore this property.

Amenities for Madison Flats

Appliances

Clothes Washer/DryerDishwasher
Garbage DisposalIcemaker
In-Unit LaundryMicrowave
Microwave OvenRange
RefrigeratorStove
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

Units12
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About Madison Flats

HomeApartments in LincolnUniversity Place 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
Excellent
Madison 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.
How we rated Madison Flats
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.

Madison Flats is great for:

Eco living

  • You can get around by foot in this area
  • Public transit available nearby
  • Insulated, energy-efficient windows
  • 7 parks within a mile

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 10% less than the average rent price for 2-bedroom apartments in University Place.

Median rents as of May 16 2026.
University Place
Lincoln
A table of studio rental data trends in Lincoln
MonthMedian Rent
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
May 2026$748
A table of studio rental data trends in University Place
MonthMedian Rent
November 2024$975
December 2024$975

Affordability calculator

Can I afford to live at 2742 N 48th St?

Bedrooms

2 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

$35,800/yr

With your selected rent-to-income ratio, you'd ideally want to make $35,800 annually to afford this 2-bedrooms monthly rent price of $895.
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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