Zumper
modified
Updated 2 Days Ago

Highlights

  • Pet Friendly
  • Professionally managed
  • 24-hour emergency maintenance
  • Hard wood flooring
  • On-site shared laundry
  • Water, hot water, and heat
  • Additional storage options

Location

506 Shepard Ter #602 N. Franklin Avenue, Madison, WI 53705, USA|Sunset Village
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Contact

Management

Bruner Realty & Management, Inc.

Leasing office

(608) 729-7898

Property Overview

Shepard Terrace Apartments is rated highly overall, with strong marks for amenities, location, and quality, plus solid value for the price. Key features include professional management, 24-hour emergency maintenance, hardwood flooring, shared laundry, included water, hot water, and heat, and additional storage options. It is also supported by a good photo set and above-average value for money.

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.

Zumper Expert Rating

8.6
Very Good
With a solid 8.6 out of 10 overall, Shepard Terrace Apartments is a great option for renters. While some aspects, like Trustworthiness, might not be as distinguished as other properties nearby, Shepard Terrace Apartments has a number of attractive features—namely its Amenities— so you can be assured your rent will come with a high standard of living.

Things you’ll love

  • Less expensive
  • High school nearby
  • Elementary school nearby

Great for

  • Pet owners

Floor plans

Shepard - 1BD1 bed1 bath650 sqft$1,195 /mo3 units available**Available Immediately:** Located at **510 Shepard Terrace, Apt 5B**, this bright 1-bedroom, 1-bathroom apartment features beautiful hardwood floors throughout the main living spaces and bedroom. The functional kitchen includes ample cabinet space, a refrigerator, a built-in wall oven, a cooktop, and a double-basin sink. Additional highlights include generous hallway storage closets, a ceiling fan, and a tiled full bath with a tub and shower. Contact us today to schedule a tour or request application details! -One surface parking space included w/ rent -$75/month utility fee (includes water, hot water and heat) -Resident responsible for electricity and internet -Security Deposit equal to 1/2 month's rent -Professionally managed with 24-hour emergency maintenance -Tenant must obtain and show proof of renter's insurance -No smoking in the unit **photos of a similar apartment in the building**
Shepard - 2BD2 bed1 bath800 sqft$1,375 /mo1 unit availableAvailable Immediately: Located at 514 Shepard Terrace, Apt 4B, this bright 2-bedroom, 1-bathroom apartment features beautiful hardwood floors throughout the main living spaces and bedrooms. The functional kitchen offers ample cabinet space, a refrigerator, a built-in wall oven, a cooktop, and a double-basin sink. Additional highlights include generous hallway storage closets, ceiling fans and A/C, and a tiled full bath with a tub and shower combination. Contact us today to schedule a tour or request application details! -One surface parking space included w/ rent -$75/month utility fee (includes water, hot water and heat) -Resident responsible for electricity and internet -Security Deposit equal to 1/2 month's rent -Professionally managed with 24-hour emergency maintenance -Tenant must obtain and show proof of renter's insurance -No smoking in the unit **photos of a similar apartment in the building**

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Amenities for Shepard Terrace Apartments

Apartment Amenities

Central HeatHeating

Appliances

FridgeOven
RangeRange/Oven
Refrigerator

Building

Cats OKDogs OK
Water/Sewer
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

Units32
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About Shepard Terrace Apartments

HomeApartments in Madison Shepard Terrace Apartments

Shepard Terrace Apartments in Madison, WI offers comfortable one-level living with convenient on-site shared laundry and additional storage options. Residents can secure a parking permit, and each unit includes one off-street parking stall for easy access. Located in Madison, the community provides straightforward amenities designed for practical daily living. The property consists of seven addresses of 506, 510, 514 518 and 522 Shepard Terrace, 602 N Franklin Ave and 2737 Lynn Terrace


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 Good
With a solid 8.6 out of 10 overall, Shepard Terrace Apartments is a great option for renters. While some aspects, like Trustworthiness, might not be as distinguished as other properties nearby, Shepard Terrace Apartments has a number of attractive features—namely its Amenities— so you can be assured your rent will come with a high standard of living.
How we rated Shepard Terrace Apartments
Price·8A 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.
Scoring a 8/10, Shepard Terrace Apartments is a great option for renters looking for apartments in Sunset Village. The rent is significantly lower than the median rent for the area, therefore this property is competitively priced for its location and its features. Residents here will find a home that meets their needs with few trade-offs.
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.
Shepard Terrace Apartments goes above and beyond to provide sought-after conveniences and desirable perks, including pets allowed. Renters looking for popular or luxurious features will find them here—and for that reason, Shepard Terrace 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.
Shepard Terrace 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·9A 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.
Shepard Terrace Apartments has a few standout characteristics that set it apart from similar properties nearby. Having both verified status and features that cater to discerning renters, this is a great option for renters looking for a specific and exceptional lifestyle.
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.

Shepard Terrace Apartments is great for:

Pet owners

  • 1 dog park within 1 mile
  • 1 pet grooming service nearby
  • 2 pet hospitals in the area
  • 1 pet supply store near the property

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 Shepard Terrace Apartments compares to other nearby properties.

Positives

Less expensive
The 1-bedrooms are cheaper than other similar listings nearby
Less expensive
The 2-bedrooms are cheaper than other similar listings nearby
High school nearby
There is a high school 0.7 miles away
Elementary school nearby
There is an elementary school 0.5 miles away
Central heat
Climate controlled environment
Eco-friendly trash disposal
This property has recycling pickup
Images Available
There are at least 10 photos of this property

Considerations

Greater distance from middle schools
The nearest middle school is farther than 1.2 miles away

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Rent trends in Sunset Village

1-bedroom apartments here are priced 18% lower than 1-bedrooms in Sunset Village.

If you decide to upgrade your space, you can expect 2-bedrooms at Shepard Terrace Apartments to be 18% less than the average for similarly sized apartments in Sunset Village.

Median rents as of Oct 3 2026.
Sunset Village
Madison
A table of studio rental data trends in Madison
MonthMedian Rent
October 2024$1,200
November 2024$1,205
December 2024$1,250
January 2025$1,248
February 2025$1,311
March 2025$1,304
April 2025$1,343
May 2025$1,334
June 2025$1,361
July 2025$1,391
August 2025$1,281
September 2025$1,140
October 2025$1,165
November 2025$1,195
December 2025$1,195
January 2026$1,217
February 2026$1,257
March 2026$1,267
April 2026$1,276
May 2026$1,213
June 2026$1,258
July 2026$1,297
August 2026$1,308
September 2026$1,175
October 2026$1,190
A table of studio rental data trends in Sunset Village
MonthMedian Rent
May 2026$1,065
June 2026$1,065
July 2026$1,065

Affordability calculator

Can I afford to live at 506 Shepard Ter #602 N. Franklin Avenue?

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

$47,800/yr

With your selected rent-to-income ratio, you'd ideally want to make $47,800 annually to afford this 1-bedroom monthly rent price of $1,195.
For more information on rent affordability, visit our rent calculator.

Schools near Shepard Terrace Apartments

Midvale Elementary School

502 caromar dr

madison, WI, 53711

PK, K-2Public
B+

4K PK Off Site

545 w dayton st

madison, WI, 53703

PKPublic

Lincoln Elementary School

909 sequoia trl

madison, WI, 53713

PK, K-5Public
B-

Mendota Mental Health Institution

301 troy dr

madison, WI, 53704

PK, K-12Public

Forest Edge Elementary School

4848 brassica rd

fitchburg, WI, 53711

PK, K-6Public
A-
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Internet available near Shepard Terrace Apartments

Neighborhood

Sunset Village | Madison, WI

NEIGHBORHOOD VIBE
Peaceful and quiet
Noise-canceling headphones not required in this mostly noise free area.

Getting around Madison near 506 Shepard Ter #602 N. Franklin Avenue

Walking

8/10
Grab your reusable bags–many shops and stores are within walking distance.

Driving

5/10
This area is accessible to thoroughfares and has ample parking options.

Cycling

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

Transit

5/10
Frequent public transit options are within walking distance.

Points of interest for 506 Shepard Ter #602 N. Franklin Avenue, Madison

Groceries

7/10
At least one grocery store within a 15-minute walk

Shopping

6/10
Variety of shops within walking distance

Cafes

6/10
Some cafés within walking distance

Restaurants

6/10
Variety of restaurants within walking distance

Primary schools

7/10
At least one elementary school within a 20-minute walk

High schools

4/10
No high schools within a 30-minute walk

Parks

7/10
Moderate amount of park space nearby

Nightlife

4/10
Few or no bars within walking distance

Explore the area around 506 Shepard Ter #602 N. Franklin Avenue

Lee's Oriental
3240 University Ave
Whole Foods Market
4710 Madison Yards Way
Metro Market
3650 University Ave
Regent Market Co-op Office
2136 Regent St
Metcalfe's
726 N Midvale Blvd

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