Updated 5+ Days Ago
Highlights
Pet Friendly
Location
5140 Wheelis Dr, Memphis, TN 38117, USA
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Property Overview
Colonial Apartments offers a strong overall value with an 8/10 Zumper expert rating, supported by a 9/10 price rating, 8/10 amenities rating, and 9/10 location rating. It stands out for its large two-bedroom layout, excellent value per square foot, walkable surroundings, nearby transit, and a lively area with many restaurants and mixed-use spaces.
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.
Things you’ll love
More space
Great for
Social life
Floor plans
| CA2/2DN | 2 bed | 2 bath | 1,500 sqft | $1,250 /mo | 1 unit available | Large 2 bedroom available - 1500 sqft - downstairs |
Let's explore this property.
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 |
|---|
About Colonial Apartments
Large 2 bedroom available - 1500 sqft - downstairs
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.
8.0
/10
Very GoodWith a solid 8 out of 10 overall, Colonial Apartments is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Colonial 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.
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.
Colonial Apartments 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·8A 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.
With multiple in-demand amenities, Colonial Apartments is committed to enhancing the renting experience. And while it may have fewer total conveniences and features than similar rentals nearby, it remains a top choice for renters wanting an specific standard of living.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
Colonial 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 Colonial 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·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.
Colonial Apartments 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.
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.
Positives
- More space
- The 2-bedroom is 338 sqft larger than other listings nearby
Considerations
- Distance from grocery stores
- The nearest grocery store is 4.2 miles away
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Rent trends in Memphis
2-bedroom apartments at Colonial Apartments cost about 28% more than the average rent price for 2-bedroom apartments in Memphis.
Median rents as of Nov 7 2026.
Memphis
| Month | Median Rent |
|---|---|
| November 2024 | $1,196 |
| 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 | $1,187 |
| June 2026 | $1,204 |
| July 2026 | $1,185 |
| August 2026 | $1,116 |
| September 2026 | $1,106 |
| October 2026 | $1,102 |
| November 2026 | $1,105 |
Affordability calculator
Can I afford to live at 5140 Wheelis Dr?
Bedrooms
2 bedroomsRent-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-
Shrine School
4259 forest view dr
memphis, TN, 38118
PK, K-12Public
Riverdale Elementary School
7391 neshoba rd
germantown, TN, 38138
PK, K-8Public
A
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
8/10
Wide variety of groceries within a few minutes' walk
Shopping
8/10
Wide variety of shops within a short drive, including some within walking distance
Cafes
6/10
Variety of cafés within a short drive
Restaurants
8/10
Wide variety of restaurants within a short drive, including some 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
Large amount of park space nearby
Nightlife
5/10
Variety of bars within a short drive
Explore the area around 5140 Wheelis Dr
Whole Foods Market
5014 Poplar Ave
Kroger
540 S Mendenhall Rd
Kroger
799 Truse Pkwy
The Fresh Market
835 S White Station Rd
Stepherson's Superlo Foods
4744 Spottswood Ave
Celery
732 E Brookhaven Cir
Galerie Des Shapeaux
759 E Brookhaven Cir
Spice It Up Resale
734 Mount Moriah Rd
Ashley Stewart
5132 Park Ave
Shaboy's Custom Tailoring & Alterations
5118 Park Ave
WFM Coffee Bar
5014 Poplar Ave
Dunkin'
5150 Poplar Ave
Starbucks
540 S Mendenhall Rd
Starbucks
5048 Poplar Ave
Gibson's Donuts
760 Mount Moriah Rd
Brookhaven Pub & Grill
695 W Brookhaven Cir
Lynchburg Legends Bar
5069 Sanderlin Ave
Huey's Poplar
4872 Poplar Ave
The Memphis Sports Pub Inc
5012 Park Ave
Chili's
4609 Poplar Ave
Nothing Bundt Cakes
681 S White Station Rd
The Peach Cobbler Factory
5101 Sanderlin Ave
The Vitamin Shoppe
780 Truse Pkwy
Kroger Bakery
540 S Mendenhall Rd
Murray's Cheese
540 S Mendenhall Rd
Pep Marquette Park
Playground
Playground
Park
Holy Rosary Playing Field
Andrew Michael Italian Kitchen
712 W Brookhaven Cir
Fox Ridge Pizza
711 W Brookhaven Cir
Fox Ridge Pizza Bar & Grill
711 W Brookhaven Cir
Hog & Hominy
707 W Brookhaven Cir
Bogies Delicatessen
703 W Brookhaven Cir
Poplar Avenue / Truse Parkway
Poplar
Poplar Avenue / Truse Parkway
Poplar
Poplar Avenue / East Brookhaven Circle
Poplar
Poplar Avenue / Mendenhall Road
Poplar
Poplar Avenue / White Station Road
Poplar
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