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1237 Melrose Avenue Iowa City, IA 52246 • Residential - Single Family • Active

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Description

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.

Property Highlights

Property Type: Residential - Single Family
Total Living Area SF: 1,540
Garage Size: 1
Built in 1954
Elementary School: Horn
High School: West
Middle School: Northwest

General Information

Bedrooms: 4
Bathrooms: 1
Sqft: 1,540
County: Johnson
High School: West
Listed By:
Keller Williams Legacy Group 319-423-4139 Stacey Dlouhy
Cedar Rapids MLS
$399,900
Est. $2,592/mo
4beds
1baths
1,540sqft
1cars
Active
BEDS4 BATHS1 full SQUARE FEET1,540 MLS#2600132
STATUSActive PROPERTY TYPEResidential - Single Family
Get In Touch

Get in Touch

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Shown By

Agent Name: Sherrie Brady
 Agent Phone: (563) 320-2389
 Agency Title: Ruhl&Ruhl Realtors
 Agent Email:

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1237 Melrose Avenue, Iowa City, IA 52246.

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Loan Type 30 Year FixedFHA 30 Year Fixed15 Year Fixed
Purchase Price $399,900$399,900$399,900
Down Payment $79,980$13,997$99,975
Monthly Mortgage Amount $1,918$2,354$2,451
Taxes $557$557$557
Insurance $100$100$100
HOA/Dues/Fees $0$0$0
Monthly Mortage Insurance $0$176$0
Monthly Estimated Total $2,592$3,204$3,125

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Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 05/04/2026. The listing information on this page last changed on 05/04/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Mon 05/04/2026 10:24:01 AM EST) or MRED MLS (last updated Mon 05/04/2026 10:19:35 AM EST) or SCWMLS (last updated Mon 05/04/2026 10:19:53 AM EST) or Rockford Board of Realtors (NWIAR) (last updated Mon 05/04/2026 10:18:51 AM EST) or Cedar Rapids MLS (last updated Mon 05/04/2026 10:21:04 AM EST) or NEIRBR MLS (last updated Mon 05/04/2026 10:19:27 AM EST) or ICAAR MLS (last updated Mon 05/04/2026 10:18:23 AM EST) or ECIMLS (last updated Mon 05/04/2026 10:16:12 AM EST) or RMLSA (last updated Mon 05/04/2026 10:20:57 AM EST) or Muscatine MLS (last updated Mon 05/04/2026 10:15:58 AM EST) or No Coast MLS (last updated Mon 05/04/2026 10:15:14 AM EST). Real estate listings held by brokerage firms other than Ruhl&Ruhl Realtors may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
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