1 Hour Ago
Highlights
Pet Friendly
Location
5140 Wheelis Dr, Memphis, TN 38117, USA
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Floor plans
| CA2/2DN | 2 bed | 2.5 bath | 1,500 sqft | $1,250 /mo | 1 unit available | Large 2 bedroom available - 1500 sqft - downstairs | |
| CA3/2.5 | 3 bed | 2.5 bath | 1,620 sqft | $1,495 /mo | 3 units available | Rare 3 bedroom Townhome Available Call 901-486-0952 |
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Amenities for Colonial Apartments
Building
| Cats OK | Dogs OK |
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
Allowed
Limit1
Cat Policy
Allowed
Limit1
Questions about this property’s policies and fees?
Building details
Property details
| Units | 40 |
|---|
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About Colonial Apartments
Rare 3 bedroom Townhome Available Call 901-486-0952
Colonial Apartments is great for:
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 Colonial Apartments compares to other nearby properties.
Considerations
- Greater distance from grade schools
- The nearest elementary school is farther than 1 mile away
- Greater distance from high schools
- The nearest high school is farther than 1 mile away
- Greater distance from middle schools
- The nearest middle school is farther than 2 miles away
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Rent trends in Memphis
If you decide to upgrade your space, you can expect 2-bedrooms at Colonial Apartments to be 28% more than the average for similarly sized apartments in Memphis.
3-bedroom apartments at Colonial Apartments cost about 9% more than the average rent price for 3-bedroom apartments in Memphis.
Median rents as of May 16 2026.
Memphis
| Month | Median Rent |
|---|---|
| June 2024 | $765 |
| July 2024 | $885 |
| August 2024 | $1,110 |
| September 2024 | $1,155 |
| October 2024 | $1,160 |
| November 2024 | $1,148 |
| December 2024 | $1,172 |
| January 2025 | $1,220 |
| February 2025 | $1,211 |
| March 2025 | $1,196 |
| April 2025 | $1,217 |
| May 2025 | $1,225 |
| June 2025 | $1,210 |
| July 2025 | $1,195 |
| August 2025 | $1,194 |
| September 2025 | $1,158 |
| October 2025 | $1,159 |
| November 2025 | $1,183 |
| December 2025 | $904 |
| January 2026 | $858 |
| February 2026 | $1,202 |
| March 2026 | $1,203 |
| April 2026 | $1,193 |
| May 2026 | $1,181 |
Affordability calculator
Can I afford to live at 5140 Wheelis 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
$50,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $50,000 annually to afford this 2-bedrooms monthly rent price of $1,250.
For more information on rent affordability, visit our rent calculator.
Schools near Colonial Apartments
Avon School
310 avon rd
memphis, TN, 38117
K-12Public
University of Memphis - University Campus School
535 zach curlin
memphis, TN, 38152
K-5Public
A-
Parkway Village Elementary School
3000 claudette rd
memphis, TN, 38118
PK, K-5Public
C-
Riverdale Elementary School
7391 neshoba rd
germantown, TN, 38138
PK, K-8Public
A
Shrine School
4259 forest view dr
memphis, TN, 38118
PK, K-12Public
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Internet available near Colonial Apartments
Getting around Memphis near 5140 Wheelis Dr
Walking
6/10
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
5/10
More spots are within biking distance and some roads are cyclist-friendly.
Transit
1/10
FYI, there are little to no public transit options within walking distance.
Points of interest for 5140 Wheelis Dr, Memphis
Groceries
7/10
At least one grocery store within a 15-minute walk
Shopping
7/10
Variety of shops within walking distance
Cafes
5/10
Some cafés within walking distance
Restaurants
5/10
Some restaurants within walking distance
Primary schools
8/10
At least one elementary school within a 10-minute walk
High schools
8/10
At least one high school within a 10-minute walk
Parks
6/10
Moderate amount of park space nearby
Nightlife
3/10
Few or no bars within walking distance
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