Charming Move-In Ready Ranch Home with Wooded Backyard & Stream - Half Acre lot - Fenced in Back Yard with Enclosed Back Porch. Welcome to this well-maintained home featuring a peaceful wooded backyard with a natural stream—perfect for relaxing and enjoying nature. Inside, you’ll find new carpet, updated windows, and a remodeled bathroom shower. The open kitchen offers ample cabinet space and great flow for cooking and entertaining. A standout feature is the covered patio room off the back of the house, providing enjoyment with beautiful views of the woods. The partially finished basement includes a bar area and an additional room with a closet—ideal for converting into a third bedroom, home office, or hobby space.
Sold for $139,500
$139,500
2031 Rainbow Dr, Waterloo, IA 50701
2beds
1,118sqft
Single Family Residence
Built in 1951
0.47 Acres Lot
$142,500 Zestimate®
$125/sqft
$1,338 Estimated rent
Home value
$142,500
$128,000 - $160,000
$1,338/mo
Zestimate® history
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List your homeWhat's special
Partially finished basementNatural streamHalf acre lotUpdated windowsRemodeled bathroom showerNew carpetWooded backyard
Zillow last checked:
Listing updated:
Listed by:
Derick Rogers 319-504-2162,
Realty ONE Group Movement
Bought with:
Paige Peyton, S65286000
Oakridge Real Estate
Source: Northeast Iowa Regional BOR as distributed by MLS GRID,MLS#: 20255789
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 1
- Full bathrooms: 1
Other
- Level: Upper
Other
- Level: Main
Other
- Level: Lower
Heating
- Natural Gas
Cooling
- Central Air
Appliances
- Included: Built-In Range, Dryer, Microwave, Refrigerator, Washer, Gas Water Heater
- Laundry: Lower Level
Features
- Basement: Block,Partially Finished
- Has fireplace: No
- Fireplace features: None
Interior area
- Total interior livable area: 1,118 sqft
- Finished area below ground: 350
Property
Parking
- Parking features: Carport
Features
- Patio & porch: Covered, Enclosed
- Fencing: Fenced
Lot
- Size: 0.47 Acres
- Dimensions: 83x227
Details
- Additional structures: Multiple Houses
- Parcel number: 891317476001
- Zoning: R-1
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Contemporary
- Property subtype: Single Family Residence
Materials
- Aluminum Siding
- Roof: Asphalt
Condition
- Year built: 1951
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Location
- Region: Waterloo
Financial & listing details
- Price per square foot: $125/sqft
- Tax assessed value: $133,200
- Annual tax amount: $2,700
- Date on market: 12/2/2025
- Cumulative days on market: 3 days
- Road surface type: Concrete, Hard Surface Road
Price history
| Date | Event | Price |
|---|---|---|
| 1/9/2026 | Sold | $139,500-6.9%$125/sqft |
Source:  Northeast Iowa Regional BOR as distributed by MLS GRID #20255789 Report a problem | ||
| 12/6/2025 | Pending sale | $149,900$134/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20255789 Report a problem | ||
| 12/2/2025 | Listed for sale | $149,900+136.5%$134/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20255789 Report a problem | ||
| 1/14/2020 | Sold | $63,385-29.5%$57/sqft |
Source: Public Record Report a problem | ||
| 4/21/2016 | Sold | $89,900$80/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20161084 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,701 +8.5% | $133,200 +7% |
| 2024 | $2,488 +5.4% | $124,500 |
| 2023 | $2,361 +2.7% | $124,500 +15.8% |
| 2022 | $2,298 +10.3% | $107,480 |
| 2021 | $2,084 +1.6% | $107,480 +16.8% |
| 2020 | $2,050 +9.2% | $92,010 |
| 2019 | $1,877 +1.4% | $92,010 |
| 2018 | $1,852 0% | $92,010 +0.3% |
| 2017 | $1,852 -11% | $91,770 |
| 2016 | $2,082 | $91,770 |
| 2015 | $2,082 +0.7% | $91,770 |
| 2014 | $2,068 +6.8% | $91,770 |
| 2012 | $1,937 +14.2% | $91,770 |
| 2011 | $1,696 +3.5% | $91,770 +7.1% |
| 2010 | $1,639 +2.9% | $85,680 |
| 2009 | $1,593 +2.4% | $85,680 |
| 2008 | $1,556 +1.9% | $85,680 +7% |
| 2007 | $1,528 -0.6% | $80,080 |
| 2006 | $1,536 -2.7% | $80,080 |
| 2005 | $1,579 +6.1% | $80,080 +14.5% |
| 2003 | $1,488 +1.6% | $69,960 |
| 2002 | $1,464 +11.2% | $69,960 +18% |
| 2001 | $1,316 | $59,290 |
Find assessor info on the county website
Neighborhood: 50701
Nearby homes
- $130,8002 bd1 ba895 sqft2041 Rainbow Dr, Waterloo, IA 50701Off Market
- $148,6004 bd1 ba1.4k sqft2025 Rainbow Dr, Waterloo, IA 50701Off Market
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- $196,0003 bd1 ba1.9k sqft115 Helen Rd, Waterloo, IA 50701Sold
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Nearby schools
GreatSchools rating
- 5/10Fred Becker Elementary SchoolGrades: PK-5Distance: 1.5 mi
- 2/10Central Middle SchoolGrades: 6-8Distance: 1.4 mi
- 2/10East High SchoolGrades: 9-12Distance: 3.8 mi
Schools provided by the listing agent
- Elementary: Fred Becker Elementary
- Middle: Central Intermediate
- High: East High
Source: Northeast Iowa Regional BOR as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Iowa
- Black Hawk County
- Waterloo
- 50701
- 2031 Rainbow Dr
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