Zumper
modified
1 Day Ago

Highlights

  • Dishwasher
  • Cozy studios
  • Conveniently located
  • Spacious bedrooms
  • On-site laundry facilities
  • Rooftop patio

Location

515 Walnut St, Ann Arbor, MI 48104, USA
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Contact

Management

Varsity Management, Inc.

Leasing office

(734) 668-1100

Property Overview

Varsity Management features cozy studios and spacious bedrooms, complemented by on-site laundry facilities and a rooftop patio, making it an attractive option for renters. With a Zumper expert rating of 8.3, it showcases excellent value, impressive amenities, and a prime location, all supported by a trustworthiness rating of 8. This property is also notable for its proximity to a top-rated elementary school and belongs to the 100th percentile for value per square foot in the area.

This summary uses Zumper’s proprietary data. “Zumper Expert Ratings” and “Things you’ll love” are based on our internal analyses of market trends and renter insights.

Zumper Expert Rating

8.3
Very Good
With 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.

Things you’ll love

  • More space
  • Elementary school nearby

Floor plans

2BR/2.0BA2 bed2 bath914+ sqft$2,880–$3,210 /mo4 units availableTwo-bedroom bi-level apartment with a rooftop patio—perfect for four residents! Conveniently located just steps from CC Little and the CCRB. Enjoy a large living room with an open-concept layout that flows into the dining area and kitchen, complete with a dishwasher. Spacious bedrooms provide a comfortable, home-like feel. This apartment is fully furnished, air conditioned, and includes one parking space. Features also include new wood flooring on the first floor and updated living room furniture for a modern touch. 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. **Images have been staged using Ai

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Amenities for Varsity Management

Apartment Amenities

Central HeatHeating
Utilities IncludedWater
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

Units12
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About Varsity Management

HomeApartments in Ann Arbor Varsity Management

Spacious Apartments Near CC Little and Central Campus This large, conveniently located building offers a variety of floor plans ranging from cozy studios to expansive two-bedroom, two-bath apartments. Each unit provides ample living space, with select apartments featuring upgraded kitchens, new flooring, and living rooms accented by beautifully designed windows. Perfect for individuals or groups, these apartments offer easy access to bus routes for both classes and work. Additional amenities include on-site laundry facilities and plenty of parking for residents.


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 Good
With 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.
How we rated Varsity Management
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.

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

More space
The 2-bedroom is 732 sqft larger than other listings nearby
Elementary school nearby
There is an elementary school 0.1 mile away

Considerations

Greater distance from middle schools
The nearest middle school is farther than 1 mile away
Greater distance from high schools
The nearest high school is farther than 1 mile away
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 40% more than the average rent price for 2-bedroom apartments in Ann Arbor.

Median rents as of May 9 2026.
Ann Arbor
A table of studio rental data trends in Ann Arbor
MonthMedian Rent
May 2024$1,713
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$1,490
January 2026$1,453
February 2026$1,446
March 2026$1,435
April 2026$1,358
May 2026$1,350

Affordability calculator

Can I afford to live at 515 Walnut St?

Bedrooms

2 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

$115,200/yr

With your selected rent-to-income ratio, you'd ideally want to make $115,200 annually to afford this 2-bedrooms monthly rent price of $2,880.
For more information on rent affordability, visit our rent calculator.

Schools near Varsity Management

Angell School

1608 s university ave

ann arbor, MI, 48104

K-5Public
A+

Ann Arbor Open at Mack School

920 miller ave

ann arbor, MI, 48103

K-8Public
A

Progress Park

3890 research park dr

ann arbor, MI, 48108

K-12Public

High Point School

1735 s wagner rd

ann arbor, MI, 48103

PK, K-12Public

Local-Based Speced Programs

1735 s wagner rd

ann arbor, MI, 48103

K-12Public
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Internet available near Varsity Management

Getting around Ann Arbor near 515 Walnut St

Walking

9/10
No car? No problem. Everything you need is within a few blocks.

Driving

7/10
This area is close to freeways and has adequate parking options.

Cycling

8/10
Peddling isn’t a problem with cyclist-friendly streets and bikeable destinations.

Transit

8/10
Getting around is a breeze; rapid transit and bus lines are a few blocks away.

Points of interest for 515 Walnut St, Ann Arbor

Groceries

9/10
At least one grocery store within a few minutes' walk

Shopping

6/10
Variety of shops within walking distance

Cafes

6/10
Some cafés within walking distance

Restaurants

7/10
Variety of restaurants within walking distance

Primary schools

9/10
At least one elementary school within a 5-minute walk

High schools

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

Parks

7/10
Moderate amount of park space nearby

Nightlife

4/10
Some bars within walking distance

Explore the area around 515 Walnut St

Sergeant Pepper's General Store
1028 E University Ave
Babo Market
403 E Washington St
Main St Clark
601 S Main St
Fustini's Oils & Vinegars
407 N 5th Ave
Knights Market
420 Miller Ave

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