Zumper
modified
Updated 5+ Days Ago

Highlights

  • Pet Friendly
  • Private balcony
  • Vinyl plank flooring
  • Professionally managed
  • In-unit washer and dryer
  • Updated eat-in kitchen
  • Carpeted bedrooms

Location

501 N Walnut St, Bloomington, IN 47404, USA|Old Northeast
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Tour 501 N Walnut St

Contact

Management

Granite Student Living - Bloomington

Leasing office

(812) 727-7000

Property Overview

501 N Walnut St offers strong value and convenience, with high marks for location, amenities, price, and trustworthiness. It stands out for its competitively priced appeal, proximity to a top-rated high school, and features like a private balcony, in-unit washer and dryer, updated eat-in kitchen, and vinyl plank flooring.

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

7.8
Very Good
501 N Walnut St is worth considering and a notable rental in the neighborhood. Residents prioritizing Location will find this property to be a solid option for their next home. It may not stand out for Quality, but it offers a satisfying, above-average quality of life.

Things you’ll love

  • Less expensive
  • More space
  • High school nearby

Great for

  • Social life

Floor plans

501 N. Walnut - 2 Bed/2 Bath - Luxury Apartment2 bed2 bath1,350 sqft$2,250 /mo1 unit available
501 N. Walnut - Luxury Apartments - 4 Bed/3 Bath!4 bed3 bath1,850 sqft$699–$3,499 /mo3 units available

Let's explore this property.

Amenities for 501 N Walnut St

Building

Cats OKDogs 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

Cat Policy

Allowed

Contact for more information on pet policy.

Questions about this property’s policies and fees?

Building details

Property details

Units6

About 501 N Walnut St

HomeApartments in BloomingtonOld Northeast 501 N Walnut St

Live in one of Bloomington’s most desirable locations at 501 N Walnut St—just minutes from Indiana University and within walking distance to downtown, restaurants, and nightlife. This 4 bedroom, 3 bathroom apartment features a spacious layout with lofted design elements, large bedrooms, and plenty of room for roommates to spread out. The updated eat-in kitchen includes full-size appliances, while the unit also features vinyl plank flooring in common areas and carpeted bedrooms for comfort. Enjoy added features like an in-unit washer and dryer, a private balcony, and a layout that works perfectly for larger groups. Click to view our 360 tour: https api realync com s ZtUVQCZaG Property Highlights • 4 Bedrooms / 3 Bathrooms | ~1,850 Sq Ft • ~$850/person – Great Value for Size & Location • Appliances Included: Refrigerator, Oven/Stove, Dishwasher & Microwave • Updated Eat-In Kitchen • Lofted Layout with Spacious Living Areas • Vinyl Plank Flooring + Carpeted Bedrooms • In-Unit Washer and Dryer • Private Balcony • Walkable to Downtown & IU Campus • Professionally Managed by Granite Student Living Utilities • Internet included • $40/month internet tech support & trash fee • Tenants responsible for water, sewer, and electric Pet Policy • Pets welcome • $299 pet screening fee • $50/month pet rent per pet • Breed restrictions apply


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.
7.8
/10
Very Good
501 N Walnut St is worth considering and a notable rental in the neighborhood. Residents prioritizing Location will find this property to be a solid option for their next home. It may not stand out for Quality, but it offers a satisfying, above-average quality of life.
How we rated 501 N Walnut St
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, 501 N Walnut St is a great option for renters looking for apartments in Old Northeast. 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·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, 501 N Walnut St 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.
501 N Walnut St 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 501 N Walnut St 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.

501 N Walnut St is great for:

Social life

  • 164 restaurants within 1 mile of this property
  • 3 local event hubs within 1 mile
  • 73 museums, art galleries, or cultural centers within 1 mile
  • Diverse age groups live in this area

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 501 N Walnut St compares to other nearby properties.

Positives

Less expensive
The 4-bedrooms are cheaper than other similar listings nearby
More space
The 2-bedroom is 850 sqft larger than other listings nearby
High school nearby
There is a high school 0.7 miles away

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Rent trends in Old Northeast

If you decide to upgrade your space, you can expect 2-bedrooms at 501 N Walnut St to be 30% more than the average for similarly sized apartments in Old Northeast.

4-bedroom apartments at 501 N Walnut St cost about 87% less than the average rent price for 4-bedroom apartments in Old Northeast.

Median rents as of Oct 31 2026.
Old Northeast
Bloomington
A table of studio rental data trends in Bloomington
MonthMedian Rent
November 2024$1,297
December 2024$1,301
January 2025$1,297
February 2025$1,298
March 2025$1,278
April 2025$1,280
May 2025$1,215
June 2025$1,011
July 2025$1,047
August 2025$1,025
September 2025$1,050
October 2025$1,091
November 2025$1,001
December 2025$1,019
January 2026$1,031
February 2026$1,108
March 2026$1,099
April 2026$1,192
May 2026$1,241
June 2026$1,199
July 2026$1,200
August 2026$1,148
September 2026$1,099
October 2026$1,248
A table of studio rental data trends in Old Northeast
MonthMedian Rent
November 2024$1,299
December 2024$1,299
January 2025$1,304
February 2025$1,316
March 2025$1,365
April 2025$1,399
May 2025$1,399
June 2025$1,399
July 2025$1,399
August 2025$1,041
September 2025$1,019
October 2025$1,235
November 2025$1,319
December 2025$1,349
January 2026$1,349
February 2026$1,320
March 2026$1,299
April 2026$1,299
May 2026$1,209
June 2026$1,124
July 2026$1,206
August 2026$1,249
September 2026$1,224
October 2026$1,227

Affordability calculator

Can I afford to live at 501 N Walnut 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

$90,000/yr

With your selected rent-to-income ratio, you'd ideally want to make $90,000 annually to afford this 2-bedrooms monthly rent price of $2,250.
For more information on rent affordability, visit our rent calculator.

Schools near 501 N Walnut St

Early Learning Center

401 east miller dr

bloomington, IN, 47401

PKPublic

University Elementary School

1111 n russell rd

bloomington, IN, 47408

PK, K-6Public
A
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Getting around Bloomington near 501 N Walnut St

Walking

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

Driving

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

Cycling

6/10
More spots are within biking distance and some roads are cyclist-friendly.

Transit

3/10
There are a few mass transit options within the area.

Points of interest for 501 N Walnut St, Bloomington

Groceries

8/10
At least one supermarket within a 10-minute walk

Shopping

7/10
Several shops within a few minutes’ walk

Cafes

6/10
Some cafés within a few minutes’ walk

Restaurants

7/10
Variety of restaurants within a few minutes' walk

Primary schools

8/10
At least one elementary school within a 15-minute walk

High schools

4/10
At least one high school within a 20-minute walk

Nightlife

5/10
Some bars within a few minutes’ walk

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