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Sold for $305,000
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    • $305,000

    408 S Governor St, Iowa City, IA 52240

    5beds
    2,088sqft
    Income Investment, Residential
    Built in 1922
    7,405 Square Feet Lot
    $310,200 Zestimate®
    $146/sqft
    $2,716 Estimated rent

    Home value

    $310,200

    $295,000 - $326,000

    $2,716/mo

    Zestimate® history
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    $2,716/mo

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    What's special

    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.

    Zillow last checked:

    Listing updated:

    Listed by:

    Julie Dancer 319-310-5522,

    Lepic-Kroeger, REALTORS

    Bought with:

    Edge Realty Group

    Source: Iowa City Area AOR,MLS#: 202503450MLS Logo

    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: Garage
    • Has garage: Yes
    Features
    • Levels: Two
    • Stories: 2
    • Patio & porch: Deck, Front Porch
    • Fencing: Fenced
    Lot
    • Size: 7,405 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: Income Investment, 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: $146/sqft
    • Tax assessed value: $287,450
    • Annual tax amount: $4,979
    • Date on market: 5/25/2025
    • Listing terms: Cash,Conventional

    Price history

    DateEventPrice
    8/7/2025Sold$305,000-4.4%$146/sqft
    Source: Iowa City Area AOR #202503450 Report a problem
    7/14/2025Pending sale$319,000$153/sqft
    Source: Iowa City Area AOR #202503446 Report a problem
    5/24/2025Price change$319,000-3.3%$153/sqft
    Source: Iowa City Area AOR #202503446 Report a problem
    4/22/2025Listed for sale$329,900+32%$158/sqft
    Source: Owner Report a problem
    12/13/2022Sold$250,000$120/sqft
    Source: Iowa City Area AOR #202203984 Report a problem
    10/27/2022Listing removed--
    Source: Zillow Rental Network Premium Report a problem
    7/27/2022Price change$2,300-7.8%$1/sqft
    Source: Zillow Rental Network Premium Report a problem
    6/13/2022Price change$2,495-3.1%$1/sqft
    Source: Zillow Rental Network Premium Report a problem
    5/9/2022Price change$2,575-1%$1/sqft
    Source: Zillow Rental Network Premium Report a problem
    3/16/2022Listed for rent$2,600+4%$1/sqft
    Source: Zillow Rental Network Premium Report a problem
    12/20/2019Listing removed$2,500$1/sqft
    Source: Premier Property Solutions Report a problem
    11/3/2019Listed for rent$2,500$1/sqft
    Source: Premier Property Solutions Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025$5,042 +1.3%$287,450 +8.6%
    2024$4,979 -3%$264,690
    2023$5,134 +4.7%$264,690 +11.7%
    2022$4,906 -0.7%$236,870
    2021$4,942 +1.9%$236,870 +3.6%
    2020$4,852 +2.9%$228,540
    2019$4,714 $228,540 +6.5%
    2018$4,714 +1.1%$214,580
    2017$4,664 +3.3%$214,580 +4.5%
    2016$4,514 +2%$205,360
    2015$4,426 +4.4%$205,360 +4.8%
    2014$4,238 $195,940 -1.7%
    2012-- $199,300
    2011-- $199,300 +6.4%
    2009-- $187,260
    2008-- $187,260 +59.6%
    2005$2,158 +10.1%$117,310
    2004$1,960 -3.7%$117,310 +2.5%
    2003$2,036 +4%$114,440
    2002$1,958 +13.7%$114,440 +12.3%
    2001$1,722 $101,890
    Find assessor info on the county website

    Neighborhood: Longfellow

    Nearby homes

    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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