4 Days Ago
Highlights
- Unique layouts
- Elevator access
- Fully remodeled units
- New paint, vinyl flooring
Location
500 S 2nd St, Mankato, MN 56001, USA
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Property Overview
Cherry Square Apartments receives a strong Zumper Expert Rating of 8.6, reflecting its exceptional amenities, competitive pricing, and prime location, each rated at 9 out of 10. The property features unique layouts, elevator access, and fully remodeled units, while being noted for its transparency and trustworthiness with an 8 out of 10 rating. It is also highlighted for its advantages for remote work and vibrant social life, with numerous restaurants, entertainment venues, and parks nearby.
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- Middle school nearby
- Elevator
Great for
Social life
Work-from-home
Floor plans
| 1BR/1.0BA | 1 bed | 1 bath | 526 sqft | $1,025 /mo | 1 unit available | Cherry Square is located in the Heart of Downtown Entertainment District! and now accepting applications for upcoming units. This one bedroom, one bath apartment has been fully remodeled. Complete with new paint, vinyl flooring, kitchen cabinets, fixtures, and granite countertops, new bathroom vanities, shower surrounds and fixtures, along with new heaters, lighting and ceiling fans in all units. The units are turning out beautiful and eagerly awaiting new tenants. Security building with elevator access and assigned parking. There are several unique layouts in this building, pictures are representative of work being completed in units. The exterior of this building will be fully renovated in the coming months. Under new ownership and management! Tenants pay electric (including heat). Landlord pays water/sewer/garbage, internet and basic cable. Monthly rent is $1025, Security Deposit is $1025. One pet (cat or small dog under 20 pounds) considered with additional deposit and monthly pet fee. 12 month lease preferred, but would consider 6 or 9 month option. Background and credit check, and rental references required, application fee per adult tenant. Equal Opportunity Housing. | |
| 2BR/1.0BA | 2 bed | 1 bath | 526 sqft | $1,295 /mo | 2 units available | Cherry Square is located in the heart of downtown Mankato and now accepting applications for upcoming units. This two bedroom, one bath apartment has been fully remodeled. Complete with new paint, vinyl flooring, kitchen cabinets, fixtures, and granite countertops, new bathroom vanities, shower surrounds and fixtures, along with new heaters, lighting and ceiling fans in all units. The units are turning out beautiful and eagerly awaiting new tenants. Security building with elevator access and assigned parking. There are several unique layouts in this building, pictures are representative of work being completed in units. The exterior of this building will be fully renovated in the coming months. Under new ownership and management! Tenants pay electric (including heat). Landlord pays water/sewer/garbage, internet and basic cable. Monthly rent is $1295, Security Deposit is $1295. One pet (cat or small dog under 20 pounds) considered with additional deposit and monthly pet fee. 12 month lease preferred, but would consider 6 or 9 month option. Background and credit check, and rental references required, application fee per adult tenant. Equal Opportunity Housing. |
Let's explore this property.
Amenities for Cherry Square Apartments
Apartment Amenities
| Air Conditioning | Ceiling Fan |
| Elevator Access | Granite Countertops |
| Individual Water Heaters | New Paint |
| Remodeled Unit |
Appliances
| Fridge | Microwave |
| Oven | Stove/Oven |
Tech
| Basic Cable Included | Internet Included |
Building
| Elevator | Sewer |
Grounds
| Assigned Parking |
Services
| Garbage | Security Building |
Neighborhood
| Near Downtown |
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
Parking Policy
Assigned Parking
Questions about this property’s policies and fees?
Building details
Property details
| Units | 37 |
|---|
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About Cherry Square Apartments
Cherry Square is located in the Heart of Downtown Entertainment District! and now accepting applications for upcoming units. This one bedroom, one bath apartment has been fully remodeled. Complete with new paint, vinyl flooring, kitchen cabinets, fixtures, and granite countertops, new bathroom vanities, shower surrounds and fixtures, along with new heaters, lighting and ceiling fans in all units. The units are turning out beautiful and eagerly awaiting new tenants. Security building with elevator access and assigned parking. There are several unique layouts in this building, pictures are representative of work being completed in units. The exterior of this building will be fully renovated in the coming months. Under new ownership and management! Tenants pay electric (including heat). Landlord pays water/sewer/garbage, internet and basic cable. Monthly rent is $1025, Security Deposit is $1025. One pet (cat or small dog under 20 pounds) considered with additional deposit and monthly pet fee. 12 month lease preferred, but would consider 6 or 9 month option. Background and credit check, and rental references required, application fee per adult tenant. Equal Opportunity Housing.
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.
8.6
/10
Very GoodWith a solid 8.6 out of 10 overall, Cherry Square Apartments is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Cherry Square 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·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.
Cherry Square 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·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.
Cherry Square Apartments goes above and beyond to provide sought-after conveniences and desirable perks, including assigned parking. Renters looking for popular or luxurious features will find them here—and for that reason, Cherry Square Apartments 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.
Cherry Square 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 Cherry Square 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.
Reviews from the web
Showing 2 highest rated
New management company took over; already improvements have been made.
Casey Lenort
Dec 23, 2021
Super nice units / building updates and fast maintenance requests. The only downside are the energy bills. High energy bills in the summer and winter. $100-200 in the summer and $300 in the winter?? I’ve never paid more than $80 and i live alone it makes no sense. Definitely try for a 3rd floor unit as the units are off the ground
Isabel Ybarra
Aug 30, 2022
We’re sharing just 2 of many, sorted highest to lowest. Visit the Google business profile to view all reviews.
Cherry Square 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 Cherry Square Apartments compares to other nearby properties.
Positives
- High school nearby
- There is a high school 0.4 mile away
- Middle school nearby
- There is a middle school 0.5 mile away
- Elevator
- Improved accessibility features
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Rent trends in Mankato
1-bedroom apartments here are priced 12% lower than 1-bedrooms in Mankato.
If you decide to upgrade your space, you can expect 2-bedrooms at Cherry Square Apartments to be 7% less than the average for similarly sized apartments in Mankato.
Median rents as of Mar 14 2026.
Mankato
| Month | Median Rent |
|---|---|
| March 2024 | $800 |
| April 2024 | $815 |
| May 2024 | $840 |
| June 2024 | $877 |
| July 2024 | $1,024 |
| August 2024 | $1,028 |
| September 2024 | $1,040 |
| October 2024 | $1,039 |
| November 2024 | $1,042 |
| December 2024 | $1,053 |
| January 2025 | $1,103 |
| February 2025 | $1,049 |
| March 2025 | $1,059 |
| April 2025 | $1,051 |
| May 2025 | $934 |
| June 2025 | $707 |
| July 2025 | $831 |
| August 2025 | $905 |
| September 2025 | $890 |
| October 2025 | $1,057 |
| November 2025 | $1,078 |
| December 2025 | $1,080 |
| January 2026 | $1,084 |
| February 2026 | $1,084 |
| March 2026 | $1,117 |
Affordability calculator
Can I afford to live at 500 S 2nd St?
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
$41,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $41,000 annually to afford this 1-bedroom monthly rent price of $1,025.
For more information on rent affordability, visit our rent calculator.
Schools near Cherry Square Apartments
Mankato Area Public Schools Special Education
10 civic center plaza suite
mankato, MN, 56001
PK, K-12Public
Prairie Care Mankato
120 e main st
mankato, MN, 56001
K-12Public
Bridges Community Elementary School
320 garfield ave
north mankato, MN, 56003
K-5Public
A
Washington Elementary School
1100 anderson dr
mankato, MN, 56001
K-5Public
B
Futures Program
1610 commerce dr
north mankato, MN, 56003
K-12Public
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Internet available near Cherry Square Apartments
Getting around Mankato near 500 S 2nd St
Walking
6/10
Grab your reusable bags–many shops and stores are within walking distance.
Driving
10/10
Commuting is easy with multiple accessible routes and plenty of parking.
Cycling
7/10
Peddling isn’t a problem with cyclist-friendly streets and bikeable destinations.
Transit
3/10
There are a few mass transit options within the area.
Points of interest for 500 S 2nd St, Mankato
Groceries
8/10
At least one supermarket within a 10-minute walk
Shopping
3/10
Some shops within walking distance
Cafes
6/10
Some cafés within a few minutes’ walk
Restaurants
6/10
Some restaurants within a few minutes’ walk
Primary schools
9/10
At least one elementary school within a 5-minute walk
High schools
9/10
At least one high school within a 5-minute walk
Nightlife
7/10
Several bars within a few minutes’ walk
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