1237 Melrose Avenue, Iowa City, IA 52246

• 4 beds |
• 1 bath |
• 1,540 sqft

Property 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.

Listing Status:

Active

Date Added:

January 6, 2026

Data Last Updated:

May 20, 2026 at 3:20AM

Listing Office:

Keller Williams Legacy Group : 319-423-4139

Listing Agent:

Stacey Dlouhy : 319-423-4139

MLS ID:

2600132

Interior

• General: Kitchen/Dining ComboBath in Primary BedroomMain Level Primary
• Appliances: DryerElectric Water HeaterRangeRefrigeratorWasher
• A/C: Central Air
• Heating: ElectricHot Water

Exterior

• Style: Ranch
• Other Structures: Deck
• Parking: GarageGarage Door Opener

Construction

• General: FrameVinyl Siding1Block

Location

• Originating MLS: CDR_CDR
• County: Johnson

Lot

• Zoning: UNIVERSITY HEIGHTS W 40' LOT 37 & E 20'LOT 361016229005

Utilities

• Sewer: Public Sewer

Financial

• Source: CDR_CDR