5+ Days Ago
Highlights
- Utilities included
- Beautifully designed apartments
- Downtown shopping
Location
541 Elizabeth Street, Ann Arbor, Michigan 48104, United States
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Property Overview
Varsity Management presents an impressive offering for renters with a Zumper expert rating of 8.3, highlighting its competitive pricing, outstanding amenities, and prime location. The range of notable features includes included utilities, beautifully designed apartments, and proximity to downtown shopping, contributing to an enhanced living experience. With a vibrant social scene nearby, including numerous restaurants, theaters, and parks, this property stands out for those seeking an active lifestyle.
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
High school nearby- More space
Great for
Social life
Floor plans
| 2BR/1.0BA | 2 bed | 1 bath | 1,100 sqft | $2,450 /mo | 2 units available | Welcome to this beautifully renovated two-unit home on Ann Arbor’s highly desirable North Side, offering the perfect blend of charm, comfort, and walkable city living. Each unit is a bright and stylish 2-bedroom, 1-bath apartment, thoughtfully updated with modern finishes while keeping the warm character of the neighborhood. Step inside to find fresh, spacious living areas, and well-proportioned bedrooms ideal for relaxing, working from home, or hosting friends. The kitchens and baths have been upgraded, giving you a clean, polished feel you’ll love coming home to. Outside your door, enjoy one of Ann Arbor’s best locations—just a short walk to Kerrytown, the Farmers Market, local cafés, shops, and restaurants. Whether you’re grabbing a morning coffee, biking downtown, or spending a Saturday at the market, everything you want is close by. Rent is collected in 12 equal installments over a 50 week lease. An increase in occupancy can lead to an increase in rent. Prices are listed for the full apartment, not per bedroom. If any utilities are included, they are included for a fee. A one-time administrative fee shall apply for each tenant. Call for details. |
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Amenities for Varsity Management
Apartment Amenities
| Central Heat | Heating |
| Utilities Included | Water |
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
Building details
Property details
| Units | 2 |
|---|
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About Varsity Management
Charming Home with Two Spacious Apartments This lovely house is divided into two beautifully designed apartments, each offering comfort and style in a highly sought-after location. Just blocks from the vibrant Kerrytown neighborhood, residents enjoy the peace and quiet of a residential setting while being only minutes from campus, downtown shopping, and a variety of local restaurants.
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.
8.3
/10
Very GoodWith a solid 8.3 out of 10 overall, Varsity Management is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Varsity Management 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.
Varsity Management 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·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.
Varsity Management goes above and beyond to provide sought-after conveniences and desirable perks, including central heat. Renters looking for popular or luxurious features will find them here—and for that reason, Varsity Management 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.
Varsity Management 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 Varsity Management 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.
Varsity Management 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 Varsity Management compares to other nearby properties.
Positives
- High school nearby
- There is a high school 0.2 mile away
- More space
- The 2-bedroom is 233 sqft larger than other listings nearby
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 Ann Arbor
2-bedroom apartments at Varsity Management cost about 11% more than the average rent price for 2-bedroom apartments in Ann Arbor.
Median rents as of Dec 13 2025.
Ann Arbor
| Month | Median Rent |
|---|---|
| December 2023 | $1,288 |
| January 2024 | $1,293 |
| February 2024 | $1,275 |
| March 2024 | $1,245 |
| April 2024 | $1,305 |
| May 2024 | $1,634 |
| June 2024 | $1,726 |
| July 2024 | $1,642 |
| August 2024 | $1,649 |
| September 2024 | $1,539 |
| October 2024 | $1,424 |
| November 2024 | $1,370 |
| December 2024 | $1,387 |
| January 2025 | $1,375 |
| February 2025 | $1,386 |
| March 2025 | $1,423 |
| April 2025 | $1,586 |
| May 2025 | $1,779 |
| June 2025 | $1,681 |
| July 2025 | $1,524 |
| August 2025 | $1,539 |
| September 2025 | $1,434 |
| October 2025 | $1,350 |
| November 2025 | $1,395 |
| December 2025 | $1,496 |
Affordability calculator
Can I afford to live at 541 Elizabeth Street?
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
$98,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $98,000 annually to afford this 2-bedrooms monthly rent price of $2,450.
For more information on rent affordability, visit our rent calculator.
Schools near Varsity Management
Ann Arbor Open at Mack School
920 miller ave
ann arbor, MI, 48103
K-8Public
A
Bach Elementary School
600 w jefferson st
ann arbor, MI, 48103
K-5Public
A
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Internet available near Varsity Management
Getting around Ann Arbor near 541 Elizabeth Street
Walking
9/10
No car? No problem. Everything you need is within a few blocks.
Driving
6/10
This area is accessible to thoroughfares and has ample parking options.
Cycling
8/10
Helmets on–you can get anywhere in this cyclist-friendly, well-connected area.
Transit
7/10
Popular public transit options are just a short walk from this location.
Points of interest for 541 Elizabeth Street, Ann Arbor
Groceries
7/10
At least one grocery store within a 15-minute walk
Shopping
6/10
Variety of shops within walking distance
Cafes
5/10
Some cafés within walking distance
Restaurants
7/10
Variety of restaurants within walking distance
Primary schools
3/10
No elementary schools within a 30-minute walk
High schools
9/10
At least one high school within a 5-minute walk
Parks
8/10
Large amount of park space nearby
Nightlife
5/10
Some bars within walking distance
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