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
$140,100 Zestimate®
$125/sqft
$1,230 Estimated rent
Home value
$140,100
$125,000 - $157,000
$1,230/mo
Zestimate® history
Owner options
List your home for rent
$1,230/mo
Rent Zestimate®
Find your next renter with Zillow Rental Manager. Plus, with online applications, you can quickly screen prospective tenants – for free.
$1,230/mo
Rent Zestimate®
Refinance and save
$981/mo
Est. payment
Refinancing to a lower rate could help reduce your monthly payments and save thousands over the life of the loan.
$981/mo
Est. payment
Explore your selling options
Work with a Zillow partner agent
Leverage their expertise and Zillow's premium Showcase listings to get your home seen by more buyers.
Get startedList with your own agent
Get your home in front of millions of buyers by listing it on Zillow.
Learn how to do itSell it yourself
Take full control of how buyers see your home on Zillow by listing For Sale by Owner (FSBO).
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 & neighborhood
Location
- Region: Waterloo
Other
Other facts
- 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 schools
GreatSchools rating
- 5/10Fred Becker Elementary SchoolGrades: PK-5Distance: 1.5 mi
- 1/10Central 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.
Get pre-qualified for a loan
At Zillow Home Loans, we can pre-qualify you in as little as 5 minutes with no impact to your credit score.An equal housing lender. NMLS #10287.
- Iowa
- Black Hawk County
- Waterloo
- 50701
- 2031 Rainbow Dr
Nearby cities
Nearby neighborhoods
Nearby zip codes
Other Waterloo Topics
