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Highlights

  • Rent Special
  • Pet Friendly

Location

940 University Woods Dr, New Albany, IN 47150, USA
Hi! Let’s figure out if this property is right for you.

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Tour The Monroe

Contact

Management

Elmington Property Management, LLC

Our team has verified this company

Leasing office

(930) 205-9173

Open today 

8:30 am–5:30 pm ET

Property Overview

The Monroe is a newly renovated apartment community that receives high marks across various categories, including a 9.6 overall rating from Zumper, reflecting excellent quality and trustworthiness. With a competitive price rating of 9 out of 10 and perfect scores for amenities and location, residents benefit from an impressive array of features and unparalleled convenience to local attractions. Additionally, the property offers pet-friendly outdoor spaces and is situated near top-rated schools, making it an appealing choice in the area.

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

9.6
Excellent
Earning an outstanding 9.6 out of 10 overall rating, The Monroe is a shining example of a what an exceptional rental property looks like. Most noteworthy, it excels at Amenities and Location—these two characteristics alone make this property an excellent choice for anyone seeking an elevated lifestyle with few trade-offs.

Things you’ll love

  • Elementary school nearby
  • More space
  • Images Available

Great for

  • Pet owners

Floor plans

1 Bedroom One Bathroom1 bed1 bath800 sqft$999 /mo7 units available
2 Bedroom One & One Half Bathroom2 bed1.5 bath1,075 sqft$1,029 /mo7 units available
Two Bedroom One & One Half Bathroom2 bed1.5 bath1,200 sqft$1,099 /mo15 units available
Two Bedroom One & One Half Bathroom Deluxe2 bed1.5 bath1,200 sqft$1,328 /mo5 units available
2 bedroom Two Bathroom2 bed2 bath1,250 sqft$1,399 /mo1 unit available
2 Bedroom One & One Half Bathroom Deluxe2 bed1.5 bath1,075 sqftAsk to join waitlistComing soon

Let's explore this property.

Amenities for The Monroe

Apartment Amenities

Air Conditioning

Appliances

In-Unit Laundry

Building

Cats OKDogs OK
Fitness CenterOnsite Laundry
Roof Deck

Grounds

CourtyardOff-Street Parking
Outdoor Kitchen & Bbq AreaOutdoor Space
Sparkling Swimming Pool with Sun DeckStorage
Swimming Pool

Services

On-Site MaintenanceOn-Site Management

Other

Online Resident Portal
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

Application Fee

One-time.

$60

REQUIRED FEES

Admin Fee

One-time.

$199

Security Deposit

One-time. Refundable.

Contact Property

Base Rent

Monthly rent payment

$999–$1,328

OPTIONAL FEES

Dog Policy

Allowed
Limit2
Breed restrictionsYes

Breed restrictions may apply. No aggressive breeds. Please contact our Leasing Team for more details.

Cat Policy

Allowed
Limit2

Cat

Pet Rent

Monthly. 2 cats max.

$30

Pet Fee

One-time fee per pet

$300

Dog

Pet Rent

Monthly. 2 dogs max. Max 2 pets. No weight limit, $30 per month per pet monthly pet rent. Breed restrictions may apply. No aggressive breeds. Please contact our Leasing Team for more details.

$30

Pet Fee

One-time fee per pet

$300

Questions about this property’s policies and fees?

Building details

Property details

Year built1971
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About The Monroe

HomeApartments in New Albany The Monroe

Welcome home to The Monroe, our newly renovated apartment community in New Albany, Indiana. Our updated 1 and 2 bedrooms provide luxurious comfort to make relaxing at home easy. Located across from the Ohio River and close to Interstate 64, you are minutes away from all of the entertainment Downtown Louisville offers. Enjoy shopping, dining out, and more within 5 minutes of your new home. Come visit us today!


Year Built: 1971

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.
9.6
/10
Excellent
Earning an outstanding 9.6 out of 10 overall rating, The Monroe is a shining example of a what an exceptional rental property looks like. Most noteworthy, it excels at Amenities and Location—these two characteristics alone make this property an excellent choice for anyone seeking an elevated lifestyle with few trade-offs.
How we rated The Monroe
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.
The Monroe 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·10A 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.
The Monroe stands out as a premier property with an impressive array of amenities and an excellent standard of living. Residents here have access to many of the most popular and desired perks—pets allowed—making this one of the top choices for renters seeking unparalleled comfort and convenience.
Location·10A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
The Monroe offers residents unparalleled convenience to popular points of interest, transportation, schools, and more, which provide an elevated quality of life. Communication with management is usually quick and easy, allowing for a more expedited application and renting process, saving you time and money.
Quality·10A 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.
The Monroe has notable characteristics that give it an edge. It is a verified property that stands out from others nearby as an exceptional choice for renters looking for a specific lifestyle. Offering a combination of prestige, modernity, and tailored living experiences, residents can expect nothing short of excellence at The Monroe.
Trustworthiness·9A 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 Monroe has gone above and beyond to craft a useful, detailed description, demonstrating transparency and trustworthiness, and giving renters a clear picture of what to expect from the property and its management, so they can make an informed decision about whether the rental meets their needs.

The Monroe is great for:

Pet owners

  • Outdoor spaces are available at this property
  • 5 pet supply stores near the property
  • 3 pet grooming services nearby
  • 2 pet hospitals in the area

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 The Monroe compares to other nearby properties.

Positives

Elementary school nearby
There is an elementary school 0.4 mile away
More space
The 2-bedroom is 110 sqft larger than other listings nearby
Images Available
There are at least 10 photos of this address
Laundry available on site
Washers and dryers are available in-building or in-unit
Outdoor space
Easy access to the outdoors

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Rent trends in New Albany

1-bedroom apartments here are priced 0% higher than 1-bedrooms in New Albany.

If you decide to upgrade your space, you can expect 2-bedrooms at The Monroe to be 0% more than the average for similarly sized apartments in New Albany.

Median rents as of Jan 13 2024.
New Albany
A table of studio rental data trends in New Albany
MonthMedian Rent
January 2024$450

Affordability calculator

Can I afford to live at 940 University Woods Dr?

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

$39,960/yr

With your selected rent-to-income ratio, you'd ideally want to make $39,960 annually to afford this 1-bedroom monthly rent price of $999.
For more information on rent affordability, visit our rent calculator.

Schools near The Monroe

Mount Tabor School

800 mount tabor

new albany, IN, 47150

PK, K-4Public
A-

Slate Run Elementary School

1452 slate run rd

new albany, IN, 47150

PK, K-4Public
A-

Green Valley Elementary School

2230 green valley rd

new albany, IN, 47150

PK, K-4Public
B+

Grant Line Elementary School

4811 grant line rd

new albany, IN, 47150

PK, K-4Public
A

Children's Academy Early Learning Center

1111 pearl st

new albany, IN, 47150

PKPublic
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Internet available near The Monroe

Neighborhood

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

Getting around New Albany near 940 University Woods Dr

Walking

5/10
Some shops and stores are within a few minutes.

Driving

10/10
Commuting is easy with multiple accessible routes and plenty of parking.

Cycling

4/10
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 940 University Woods Dr, New Albany

Groceries

7/10
At least one supermarket within a 15-minute walk

Shopping

4/10
Several shops within walking distance

Cafes

5/10
Some cafés within a few minutes’ walk

Restaurants

5/10
Some restaurants within a few minutes’ walk

Primary schools

9/10
At least one elementary school within a 5-minute walk

High schools

0/10
Closest high school further than a 30-minute walk

Parks

5/10
Moderate amount of park space nearby

Nightlife

4/10
Some bars within walking distance

Explore the area around 940 University Woods Dr

ALDI
3118 Grant Line Rd
Walmart Supercenter
2910 Grant Line Rd
Kroger
2864 Charlestown Rd
Rainbow Blossom Natural Foods
3003 Charlestown Xing
Meijer
4222 Charlestown Rd

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