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About This Home
This 4-bedroom, 1-bathroom single family at 1237 Melrose Avenue in Iowa City, IA is listed for $399,900 ($260 per sqft). Built in 1954, the home offers 1,540 sqft of living space on a 0.16 acres lot.
Prime Iowa City investment opportunity 3 blocks from the University of Iowa & UI Hospitals & Clinics. This versatile property offers strong rental appeal with a functional layout and key updates already completed. The main level features 3 bedrooms, while the lower level includes a 4th bedroom or flexible family room option, ideal for maximizing rental income or accommodating multiple living arrangements.
Updates throughout the home, giving it a refreshed feel. Major improvement includes a newly updated foundation completed in 2025, offering peace of mind for investors looking for a solid, low-maintenance asset. The location alone checks all the boxes with consistent demand from students, medical professionals, & university staff.
Whether you're adding to your portfolio or looking for a property in one of Iowa City's most reliable rental corridors, this Melrose Ave home is a smart move with built-in demand and flexibility.
Key Features
- Built in 1954
- 0.16 acre lot
Property Details
Amenities
Monthly Cost Estimate
$2,139/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1237 Melrose Avenue
Iowa City, IA 52246
Property Details
Construction
Appliances
Questions & Answers
This 4-bedroom, 1-bathroom single family at 1237 Melrose Avenue is listed at $399,900 ($260/sqft). The estimated monthly payment is $1,733 based on 20% down at 6.5% interest.
Key features include: Built in 1954, 0.16 acre lot.
This property is listed by Stacey Dlouhy and can be reached at (319) 423-4139 or stacey@staceydlouhy.com.
