Investment opportunity in this 5 bdrm/2 bath home just steps from downtown Iowa City! Discover an exceptional rental house (or can be SF) in vibrant Iowa City, offering a blend of comfortable living and prime location, ideal for owner-occupants looking to offset their mortgage with rental income or savvy investors seeking a consistent return. Key features: ample space for tenants with generous bedrooms, enjoy the convenience and extra storage of a detached garage, plus an unbeatable location with quick access to shops, restaurants, entertainment, and the U of IA campus. Outdoor charm to relax and entertain on the inviting front porch or in the private backyard, complete with ready-to-use garden planters. This turnkey investment has an active rental permit and a proven history of renters, ensures immediate income potential. With new HVAC, recent updates to the kitchen, new appliances, and fresh paint throughout, it's move in ready. Imagine owning your home while roommates help you pay down your mortgage - a chance to transition from renter to homeowner, building equity and securing your financial future.
Pending
Price cut: $10.9K (5/24)
$319,000
408 S Governor St, Iowa City, IA 52240
5beds
2,088sqft
Est.:
Single Family Residence, Residential
Built in 1922
7,405.2 Square Feet Lot
$305,000 Zestimate®
$153/sqft
$-- HOA
What's special
- 83 days
- on Zillow |
- 39 |
- 0 |
Zillow last checked: 7 hours ago
Listing updated: July 14, 2025 at 05:40pm
Listed by:
Julie Dancer 319-310-5522,
Lepic-Kroeger, REALTORS
Source: Iowa City Area AOR,MLS#: 202503446

Travel times
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Natural Gas
Cooling
- Ceiling Fan(s)
Appliances
- Included: Range Or Oven, Refrigerator, Dryer, Washer
- Laundry: In Basement
Features
- Other, Breakfast Area
- Flooring: Wood
- Basement: Block,Finished,Unfinished
- Number of fireplaces: 1
- Fireplace features: Living Room
Interior area
- Total structure area: 2,088
- Total interior livable area: 2,088 sqft
- Finished area above ground: 1,392
- Finished area below ground: 696
Property
Parking
- Total spaces: 3
- Parking features: Detached Carport
- Has carport: Yes
Features
- Levels: Two
- Stories: 2
- Patio & porch: Deck, Front Porch
- Fencing: Fenced
Lot
- Size: 7,405.2 Square Feet
- Dimensions: 40 x 189
- Features: Less Than Half Acre
Details
- Parcel number: 1015101006
- Zoning: Residential
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence, Residential
Materials
- Frame
Condition
- Year built: 1922
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Street Lights, Close To School, Near Public Transport
- Security: Smoke Detector(s)
- Subdivision: Berryhills 2nd Addition
HOA
- Services included: None
Location
- Region: Iowa City
Financial & listing details
- Price per square foot: $153/sqft
- Tax assessed value: $264,690
- Annual tax amount: $4,979
- Date on market: 5/24/2025
- Listing terms: Cash,Conventional
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