Contact us: 563.441.1776
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
MLS ID: 2600132
For Details, Contact
Get in Touch
For Details, Contact
Contact an agent to learn more about
1237 Melrose Avenue, Iowa City, IA 52246.
Mortgage Calculator
Call or Click to get Pre-Approved!
563-441-1862
toll free 866-441-1862
Customize Your Rate
| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $429,924 | $429,924 | $429,924 |
| Down Payment | $85,985 | $15,047 | $107,481 |
| Monthly Mortgage Amount | $2,062 | $2,531 | $2,635 |
| Taxes | $598 | $598 | $598 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $189 | $0 |
| Monthly Estimated Total | $2,785 | $3,443 | $3,358 |
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 04/01/2026. The listing information on this page last changed on 04/01/2026. 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 Wed 04/01/2026 7:36:07 AM EST) or MRED MLS (last updated Wed 04/01/2026 7:20:17 AM EST) or SCWMLS (last updated Tue 03/31/2026 11:54:41 PM EST) or Rockford Board of Realtors (NWIAR) (last updated Tue 03/31/2026 10:15:14 PM EST) or Cedar Rapids MLS (last updated Wed 04/01/2026 6:51:26 AM EST) or NEIRBR MLS (last updated Wed 04/01/2026 7:28:42 AM EST) or ICAAR MLS (last updated Tue 03/31/2026 11:37:31 PM EST) or ECIMLS (last updated Tue 03/31/2026 11:44:31 PM EST) or RMLSA (last updated Wed 04/01/2026 1:10:57 AM EST) or Muscatine MLS (last updated Wed 04/01/2026 2:00:22 AM EST) or No Coast MLS (last updated Wed 04/01/2026 7:04:02 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.
Privacy Policy / DMCA Notice / ADA Accessibility
Privacy Policy / DMCA Notice / ADA Accessibility
This site is hosted, designed and copyright
© 1994 - 2026 by
Delta Media Group, Inc. -- Patent Pending --