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.
Welcome to your dream home in one of Iowa City’s most sought-after neighborhoods! This stunning executive ranch features 4 bedrooms, 3 bathrooms, and a 3-car garage, with a layout designed for both everyday living and entertaining. The beautiful chef’s kitchen boasts custom cabinetry, quartz countertops, high-end appliances, and a striking moveable quartz island. The open-concept main floor showcases vaulted ceilings, designer lighting, LVP and tile flooring, and a spacious screened-in porch ideal for Iowa summers. The luxurious primary suite includes a tile shower, lighted mirrors, a make-up vanity, and a reimagined closet. With a finished lower level offering a guest suite and family room, this home combines elegance, comfort, and functionality in every detail.
Investor Opportunity! Well-positioned 3rd-floor condo unit offering strong potential for buy-and-hold or value-add strategies. Top floor unit provides added privacy and desirability for tenants or future resale. Condo layout supports efficient rental operations with low exterior maintenance, making this an ideal asset for investors seeking predictable expenses and long-term appreciation. Convenient access to nearby amenities, employment opportunities, and transportation corridors. Property presents an excellent opportunity to stabilize, update, or hold as part of a diversified rental portfolio. Suitable for both seasoned investors and those looking to enter the condo rental market.
Iowa City is located in Iowa. Iowa City, Iowa 52246has a population of 74,240. Iowa City 52246 is less family-centric than the surrounding county with 24.47% of the households containing married families with children. The county average for households married with children is 36.23%.
The median household income in Iowa City, Iowa 52246 is $51,925. The median household income for the surrounding county is $67,414 compared to the national median of $69,021. The median age of people living in Iowa City 52246 is 26.1 years.
The average high temperature in July is 85.1 degrees, with an average low temperature in January of 13.3 degrees. The average rainfall is approximately 36.9 inches per year, with 26.8 inches of snow per year.
