Voyager-2 radio occultation measurements have revealed changes in the atmospheric refractivity within a 2-4 km layer near the 1.2-bar level in Uranus and the 1.6-bar level in Neptune. These changes were attributed to the presence of a methane cloud, consistent with the observation that methane concentration decreases with altitude above these levels, closely following the saturation vapor pressure. However, no clear spectral signatures of such a cloud have been detected thus far in the spectra acquired from both planets. We examine methane cloud properties in the atmospheres of the ice giants, including vertical ice distribution, droplet radius, precipitation rates, timescales, and total opacity, employing microphysical simulations under different scenarios. We used a one-dimensional (1D) cloud microphysical model to simulate the formation of methane clouds in the ice giants. The simulations include the processes of nucleation, condensation, coagulation, evaporation, and precipitation, with vertical mixing simulated using an eddy-diffusion profile (K_eddy). Our simulations show cloud bases close to 1.24 bars in Uranus and 1.64 bars in Neptune, with droplets up to 100 μm causing high settling velocities and precipitation rates (∼370 mm per Earth year). The high settling velocities limit the total cloud opacity, yielding values at 0.8 μm of ∼0.19 for Uranus and ∼0.35 for Neptune, using K_ eddy = 0.5 m^2 s^-1 and a deep methane mole fraction (μ_CH_4) of 0.04. In addition, lower K_ eddy or μ_CH_4 values result in smaller opacities. Methane supersaturation is promptly removed by condensation, controlling the decline in μ_CH_4 with altitude in the troposphere. However, the high settling velocities prevent the formation of a permanent thick cloud. Stratospheric hazes made of ethane or acetylene ice are expected to evaporate completely before reaching the methane condensation level. Since hazes are required for methane heterogeneous nucleation, this suggests either a change in the solid phase properties of the haze particles, inhibiting evaporation, or the presence of photochemical hazes.