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One Lucky Household. One Full Year of Free Rent, households must be in good standing with a zero balance by July 25, 2026.

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Highlights

  • Rent Special
  • Pet Friendly
  • Swimming pool
  • Playground
  • Laundry facilities
  • Peaceful living
  • On-site maintenance
  • On-site management

Location

2755 Merlin Lake Ct, Indianapolis, IN 46229, USA
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Contact

Management

Zidan Management Group, Inc.

Leasing office

(844) 294-7576 ext. 2605

Open today 

9:00 am–5:00 pm ET

Property Overview

Waterstone Place Apartments has achieved a strong Zumper Expert Rating of 8.8/10, highlighting its excellent value and impressive array of amenities such as a swimming pool, playground, and on-site maintenance. With a prime location rated 9/10 and a perfect price rating of 10/10, it stands out as a competitive option. Additionally, it is noted for its pet-friendly outdoor spaces and proximity to local conveniences, enhancing the overall living experience for residents.

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

8.8
Very Good
With a solid 8.8 out of 10 overall, Waterstone Place Apartments is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Waterstone Place Apartments 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

  • Less expensive
  • Middle school nearby
  • Dishwasher

Great for

  • Pet owners

Floor plans

One Bedroom, 1.5 Baths Plus Den1 bed1.5 bath886 sqft$1,007–$1,288 /mo1 unit available
Two Bedroom, One Bath2 bed1 bath910 sqft$1,100–$1,414 /mo3 units available
Two Bedroom, Two Bath2 bed2 bath1,072+ sqft$1,215–$1,552 /mo2 units available

Let's explore this property.

Amenities for Waterstone Place Apartments

Apartment Amenities

Air ConditioningBalcony
CarpetLarge Closets
PatioWalk-in Closet
Window Coverings

Appliances

DishwasherGarbage Disposal
Refrigerator

Tech

Cable Ready

Building

Cats OKDogs OK
Onsite Laundry

Grounds

Assigned ParkingGarage Parking
Outdoor SpacePlayground
Private LakeSwimming Pool

Services

On-Site MaintenanceOn-Site Management
Valet Trash Service

Neighborhood

On the Bus Line
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

OPTIONAL FEES

Parking Policy

Garage Parking

Cat Policy

Allowed
Limit2

Small Dog Policy

Allowed
Limit2

Cat

Pet Rent

Monthly. 2 cats max. | Restrictions: None.

$35

Pet Fee

One-time fee per pet.

$350

Small Dog

Pet Rent

Monthly. 2 small dogs max. | Restrictions: Pit Bulls, Rottweiler's, Chows, Dobermans.

$35

Pet Fee

One-time fee per pet.

$350

Questions about this property’s policies and fees?

Building details

Property details

Units192
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About Waterstone Place Apartments

HomeApartments in Indianapolis Waterstone Place Apartments

Waterstone Place Apartments offers peaceful living in Far Eastside Indianapolis. We have one, two, and three-bedroom homes built for comfort, and yes, your pets are welcome too!You’ll love our peaceful setting with a private lake, a swimming pool for fun, laundry facilities for convenience, and a playground for extra enjoyment. Plus, we have on-site management and maintenance to keep everything running smoothly. Enjoy a calm lifestyle while staying close to everything you need!


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.
8.8
/10
Very Good
With a solid 8.8 out of 10 overall, Waterstone Place Apartments is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Waterstone Place Apartments 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 Waterstone Place Apartments
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.
Waterstone Place Apartments 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·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.
Waterstone Place Apartments 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·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
Waterstone Place Apartments 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 Waterstone Place Apartments does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
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.

Waterstone Place Apartments is great for:

Pet owners

  • Outdoor spaces are available at this property

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 Waterstone Place Apartments compares to other nearby properties.

Positives

Less expensive
The 1-bedrooms are cheaper than other similar listings nearby
Less expensive
The 2-bedrooms are cheaper than other similar listings nearby
Less expensive
The 3-bedrooms are cheaper than other similar listings nearby
Middle school nearby
There is a middle school 1 mile away
Dishwasher
Dishwasher available in kitchen
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
Walk-in closet
More closet space on average

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Rent trends in Indianapolis

1-bedroom apartments here are priced 0% lower than 1-bedrooms in Indianapolis.

If you decide to upgrade your space, you can expect 2-bedrooms at Waterstone Place Apartments to be 7% less than the average for similarly sized apartments in Indianapolis.

Median rents as of Mar 28 2026.
Indianapolis
A table of studio rental data trends in Indianapolis
MonthMedian Rent
April 2024$1,080
May 2024$1,117
June 2024$1,171
July 2024$1,091
August 2024$1,047
September 2024$1,090
October 2024$1,131
November 2024$1,126
December 2024$1,105
January 2025$1,194
February 2025$1,191
March 2025$1,151
April 2025$1,121
May 2025$1,139
June 2025$1,158
July 2025$1,185
August 2025$1,178
September 2025$1,065
October 2025$1,063
November 2025$1,048
December 2025$1,029
January 2026$1,039
February 2026$1,034
March 2026$1,004

Affordability calculator

Can I afford to live at 2755 Merlin Lake Ct?

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

$40,280/yr

With your selected rent-to-income ratio, you'd ideally want to make $40,280 annually to afford this 1-bedroom monthly rent price of $1,007.
For more information on rent affordability, visit our rent calculator.

Schools near Waterstone Place Apartments

Sunny Heights Elementary School

11149 stonybrook dr

indianapolis, IN, 46229

K-4Public
C-

Warren Early Childhood Center

1401 n mitthoeffer

indianapolis, IN, 46229

PKPublic

Family Development Services, CAFE Head Start

8902 east 38th st

indianapolis, IN, 46226

PKPublic

Family Development Services - Windsor Village East

5950 e 23rd st

indianapolis, IN, 46218

PKPublic

Indiana School for the Deaf

1200 e 42nd st

indianapolis, IN, 46205

PK, K-12Public
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Internet available near Waterstone Place Apartments

Getting around Indianapolis near 2755 Merlin Lake Ct

Walking

4/10
Fewer daily needs are within walking distance (unless you’re up for a challenge).

Driving

9/10
Commuting is easy with multiple accessible routes and plenty of parking.

Cycling

4/10
This is semi-bikeable, but you’ll need another way of getting around.

Transit

3/10
There are a few mass transit options within the area.

Points of interest for 2755 Merlin Lake Ct, Indianapolis

Groceries

0/10
No grocery stores within walking distance

Shopping

4/10
Some shops within walking distance

Cafes

1/10
Few or no cafés within walking distance

Restaurants

4/10
Some restaurants within walking distance

Primary schools

3/10
No elementary schools within a 30-minute walk

High schools

0/10
No high schools within a 30-minute walk

Parks

5/10
Moderate amount of park space nearby

Nightlife

2/10
Few or no bars within walking distance

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