1237 Melrose Avenue, Iowa City, IA 52246
Johnson County
Key Facts
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 Information
Property Type
Residential
Sub-Type
Single Family Residence
Style
Ranch
Year Built
1954
Living Area
1,540 sq ft
Lot Size
0.16 acres
Lot Dimensions
7200
Garage Spaces
1
Days on Market
149
MLS® Listing#
2600132
Property Features
- Appliances:
- Dryer, Electric Water Heater, Range, Refrigerator, Washer
- Cooling:
- Central Air
- Heating:
- Electric, Hot Water
- Parking:
- Garage, Garage Door Opener
- Patio:
- Deck
- Construction:
- Frame, Vinyl Siding
- Foundation:
- Block
- Sewer:
- Public Sewer
Rooms
- First
Schools
- Elementary:
- Horn
- Middle:
- Northwest
- High:
- West
HOA & Tax
- Annual Tax:
- $4,451
- Parcel #:
- 1016229005
Directions
East on Melrose Ave from I380
Affordability Calculator
$79,980
Estimated monthly payment
$2,128/mo
Principal $319,920 · Est. interest $446,317 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Iowa City, IA
- $279,355
- Median Listing Price
- 65
- Median Days on Market
- 1,681
- Median Sq Ft
- $152
- Median Price / Sq Ft
- 806
- Active Listings
- This home’s price is 43% above the area median.
- Its price per sq ft is 71% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Iowa City, IA.
Location
- 1237 Melrose Avenue, Iowa City, IA 52246
Nearby Schools
Horn Elementary School
Elementary · 0.5 mi away
Melrose Day Care Center
Elementary · 0.5 mi away
Lincoln Elementary School
Elementary · 0.8 mi away
University of Iowa Department of Cinematic Arts
School · 1.1 mi away
West High School
Secondary · 1.2 mi away
Coralville Central Elementary
Elementary · 1.6 mi away
Mann Elementary School
Elementary · 1.8 mi away
Longfellow Elementary School
Elementary · 2.0 mi away
Weber Elementary School
Elementary · 2.2 mi away
Northwest Junior High School
Secondary · 2.3 mi away
Bohumil Shimek Elementary School
Elementary · 2.3 mi away
Mark Twain Elementary School
Elementary · 2.3 mi away
Prince of Peace Christian Preschool
School · 2.4 mi away
Norman Borlaug Elementary School
Elementary · 2.4 mi away
Kirkwood Elementary School
Elementary · 2.5 mi away
Montessori School
Elementary · 2.7 mi away
Iowa City High School
Secondary · 2.7 mi away
Hillside Christian School
Secondary · 2.8 mi away
Herbert Hoover Elementary School
Elementary · 2.8 mi away
Regina Junior Senior High School
Secondary · 2.9 mi away
Commute Calculator
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EXIT Agents in Iowa City
Listing Courtesy: Keller Williams Legacy Group - 3194234139
Presented by: Stacey Dlouhy