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For sale
    • Price cut: $5K (5/8)
    $244,900

    121 S Governor St, Iowa City, IA 52240

    2beds
    864sqft
    : 
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    Income Investment, Residential
    Built in 1952
    3,484 Square Feet Lot
    $234,900 Zestimate®
    $283/sqft
    $-- HOA

    What's special

    Two bedroom home
    Investor alert. Well maintained two bedroom home in the heart of downtown Iowa City with a strong rental history. Currently leased through July 2027, with the potential for owner occupancy once the lease term expires. Rent is currently $1,400 and will increase to $1,650 starting 8/1/2026. The unfinished basement offers opportunity for future finished living space.
    165 days
    |
    432
    |
    18
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Gwen Johnson 319-631-4936,

    Skogman Realty Co.,

    Tracy Barkalow 319-631-3268,

    Barkalow & Associates, Realtors

    Source: Iowa City Area AOR,MLS#: 202601004MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 2
      • Bathrooms: 1
      • Full bathrooms: 1
      Heating
      • Forced Air, Natural Gas
      Cooling
      • Wall/Window Unit(s)
      Appliances
      • Included: Dishwasher, Dryer, Microwave, Range Or Oven, Refrigerator, Washer
      • Laundry: In Basement
      Features
      • Primary On Main Level
      • Basement: Full,Unfinished
      • Has fireplace: No
      • Fireplace features: None
      Interior area
      • Total structure area: 864
      • Total interior livable area: 864 sqft
      • Finished area above ground: 864
      • Finished area below ground: 0

      Property

      Parking
      • Total spaces: 2
      • Parking features: Off Street
      Features
      • Levels: One
      • Stories: 1
      • Patio & porch: Deck, Front Porch
      Lot
      • Size: 3,484 Square Feet
      • Dimensions: 50 x 72
      • Features: Less Than Half Acre, Level
      Details
      • Parcel number: 1010479011
      • Zoning: res
      • Special conditions: Standard

      Construction

      Type & style
      • Home type: SingleFamily
      • Property subtype: Income Investment, Residential
      Materials
      • Vinyl, Frame
      Condition
      • Year built: 1952

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Public
      • Utilities for property: Cable Available

      Community & HOA

      Community
      • Features: Close To School, Near Public Transport, Park, Sidewalks, Street Lights
      • Subdivision: Iowa City Original Town
      HOA
      • Services included: None
      Location
      • Region: Iowa City

      Financial & listing details

      • Price per square foot: $283/sqft
      • Tax assessed value: $164,680
      • Annual tax amount: $2,956
      • Date on market: 2/5/2026
      • Listing terms: Cash,Conventional

        Estimated market value

        $234,900

        $223,000 - $247,000

        $1,510/mo

        Price history

        DateEventPrice
        5/8/2026Price change$244,900-2%$283/sqft
        Source: Iowa City Area AOR #202601004 Report a problem
        2/5/2026Listed for sale$249,900$289/sqft
        Source: CRAAR, CDRMLS #2600866 Report a problem
        1/31/2026Listing removed$1,650$2/sqft
        Source: Zillow Rentals Report a problem
        1/30/2026Listing removed$249,900$289/sqft
        Source: Iowa City Area AOR #202600783 Report a problem
        1/28/2026Listed for sale$249,900-10.4%$289/sqft
        Source: Iowa City Area AOR #202600783 Report a problem
        12/8/2025Listed for rent$1,650$2/sqft
        Source: Zillow Rentals Report a problem
        11/18/2025Listing removed$1,650$2/sqft
        Source: Zillow Rentals Report a problem
        9/9/2025Listed for rent$1,650+10.4%$2/sqft
        Source: Zillow Rentals Report a problem
        7/28/2025Listing removed$1,495$2/sqft
        Source: Zillow Rentals Report a problem
        7/16/2025Price change$1,495-16.9%$2/sqft
        Source: Zillow Rentals Report a problem
        6/5/2025Price change$1,800+0.3%$2/sqft
        Source: Zillow Rentals Report a problem
        6/2/2025Price change$1,795+12.5%$2/sqft
        Source: Zillow Rentals Report a problem
        4/17/2025Price change$1,595-11.4%$2/sqft
        Source: Zillow Rentals Report a problem
        2/4/2025Listed for rent$1,800$2/sqft
        Source: Zillow Rentals Report a problem
        12/31/2024Listing removed$1,800$2/sqft
        Source: Zillow Rentals Report a problem
        9/2/2024Listed for rent$1,800+12.5%$2/sqft
        Source: Zillow Rentals Report a problem
        6/10/2024Listing removed$279,000$323/sqft
        Source: Iowa City Area AOR #202402748 Report a problem
        5/13/2024Listed for sale$279,000$323/sqft
        Source: Iowa City Area AOR #202402748 Report a problem
        1/24/2024Listing removed--
        Source: Zillow Rentals Report a problem
        9/4/2023Listed for rent$1,600+23.6%$2/sqft
        Source: Zillow Rentals Report a problem
        8/2/2023Listing removed--
        Source: Zillow Rentals Report a problem
        7/25/2023Listed for rent$1,295$1/sqft
        Source: Zillow Rentals Report a problem
        11/10/2022Listing removed--
        Source: Zillow Rental Network Premium Report a problem
        9/20/2022Listed for rent$1,295$1/sqft
        Source: Zillow Rental Network Premium Report a problem
        1/12/2022Listing removed--
        Source: Zillow Rental Network Premium Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$2,956 +1.2%$164,680 +6.1%
        2024$2,920 +3.1%$155,210
        2023$2,833 +4.7%$155,210 +18.7%
        2022$2,707 -2%$130,720
        2021$2,762 +1.8%$130,720 +2.3%
        2020$2,712 +2%$127,780
        2019$2,659 +1.5%$127,780 +7.1%
        2018$2,620 +1.1%$119,260
        2017$2,592 +1.7%$119,260 +2.9%
        2016$2,548 +0.6%$115,920
        2015$2,533 +0.6%$115,920 -0.4%
        2014$2,518 $116,430
        2012-- $116,430 -0.2%
        2011-- $116,610 -0.1%
        2009-- $116,780
        2008-- $116,780 +34.5%
        2005$1,596 +2.4%$86,800
        2004$1,558 +1.4%$86,800 +8.2%
        2003$1,536 +3.6%$80,220
        2002$1,482 +22.7%$80,220 +22.5%
        2001$1,208 $65,490
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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        Climate risks

        Neighborhood: College Green

        Getting around

        77 / 100
        Very Walkable
        44 / 100
        Some Transit
        74 / 100
        Very Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: Longfellow
        • Middle: Southeast
        • High: City

        Source: Iowa City Area AOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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