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About This Home
This 4-bedroom, 1-bathroom single family at 1237 Melrose Ave in IowaCity, IA is listed for $420,500 ($404 per sqft). Built in 1954, the home offers 1,040 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
Monthly Cost Estimate
$2,249/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1237 Melrose Ave
IowaCity, IA 52246
No
Features & Amenities
Exterior Features
Property Details
Construction
Parking
Heating
Cooling
Appliances
Questions & Answers
This 4-bedroom, 1-bathroom single family at 1237 Melrose Ave is listed at $420,500 ($404/sqft). The estimated monthly payment is $1,822 based on 20% down at 6.5% interest.
Key features include: Built in 1954, 0.16 acre lot. Exterior Features: Deck.
This property is listed by Jami Wolf and can be reached at 3194817088 or jamiwolf.realtor@gmail.com.
