Step into the timeless charm of this beautiful 1922 home, built by Arthur T. Moorehouse, where original character blends seamlessly with thoughtful modern updates. Situated on a spacious 0.64-acre lot, this unique property offers the perfect combination of historic appeal, comfortable living, and beautiful outdoor space in a desirable Cedar Falls location. The upper-level features three bedrooms and a full bathroom, along with access to a rooftop patio—a wonderful spot to step outside, unwind, and enjoy the surroundings. On the main floor, you'll find a beautifully renovated kitchen, convenient half bathroom, and functional mudroom. A separate dining room, family room, and cozy sunroom create a versatile and inviting layout with plenty of space for everyday living and entertaining. The clean and versatile basement provides even more usable space with endless possibilities. Create a home gym, office, additional family room, hobby area, or whatever best fits your needs. The basement also includes an additional bathroom and dedicated laundry area. Outside, mature trees, established garden areas, a patio, and an expansive yard create a peaceful setting with plenty of room to relax, entertain, garden, or simply enjoy the outdoors. A two-stall detached garage provides ample parking and storage, while the loft above offers even more space for your storage needs. Located near Hartman Reserve and River Hills Elementary, you'll also enjoy convenient access to nearby walking and biking trails, making it easy to take advantage of everything this beautiful area has to offer. Full of character, modern comforts, and nearly two-thirds of an acre to enjoy, 3018 Rainbow Drive is a special opportunity to own a piece of Cedar Falls history in a fantastic location. Special Financing Incentives available on this property from SIRVA Mortgage
For sale
$345,000
3018 Rainbow Dr, Cedar Falls, IA 50613
3beds
1,792sqft
Single Family Residence
Built in 1922
0.64 Acres Lot
$325,800 Zestimate®
$193/sqft
$-- HOA
What's special
- 1 day
- 1,129
- 87
Zillow last checked:
Listing updated:
Listed by:
Kelly L Walton 641-512-2303,
Ohl Iowa Realty, Inc
Source: Northeast Iowa Regional BOR as distributed by MLS GRID,MLS#: 20264201
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
- Full bathrooms: 1
- 3/4 bathrooms: 1
Rooms
- Room types: Sunroom
Other
- Level: Upper
Other
- Level: Main
Other
- Level: Lower
Heating
- Radiant
Cooling
- Central Air
Appliances
- Included: Built-In Oven, Dishwasher, Disposal, Refrigerator
- Laundry: Lower Level
Features
- Basement: Unfinished
- Has fireplace: Yes
- Fireplace features: One
Interior area
- Total interior livable area: 1,792 sqft
- Finished area below ground: 0
Property
Parking
- Total spaces: 2
- Parking features: Detached Garage
- Carport spaces: 2
Features
- Patio & porch: Patio
- Exterior features: Balcony, Garden
Lot
- Size: 0.64 Acres
- Dimensions: 105x121x238x238
Details
- Parcel number: 891317328012
- Zoning: R-1
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Brick
- Roof: Shingle
Condition
- Year built: 1922
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Security: Smoke Detector(s)
Location
- Region: Cedar Falls
Financial & listing details
- Price per square foot: $193/sqft
- Tax assessed value: $291,050
- Annual tax amount: $4,368
- Date on market: 9/2/2026
- Cumulative days on market: 2 days
- Road surface type: Concrete
Estimated market value
$325,800
$310,000 - $342,000
$1,631/mo
Price history
| Date | Event | Price |
|---|---|---|
| 9/2/2026 | Listed for sale | $345,000+97.1%$193/sqft |
Source: | ||
| 3/24/2021 | Listing removed | -- |
Source: Owner Report a problem | ||
| 2/22/2018 | Sold | $175,000-22.2%$98/sqft |
Source: Public Record Report a problem | ||
| 10/22/2015 | Listing removed | $225,000$126/sqft |
Source: Owner Report a problem | ||
| 7/24/2015 | Listed for sale | $225,000+12.5%$126/sqft |
Source: Owner Report a problem | ||
| 4/4/2007 | Sold | $200,000$112/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,347 +2.9% | $291,050 +7.7% |
| 2024 | $4,223 -1.8% | $270,140 |
| 2023 | $4,300 -1.2% | $270,140 +16% |
| 2022 | $4,352 +3% | $232,920 |
| 2021 | $4,224 +3.1% | $232,920 +2.7% |
| 2020 | $4,096 +2.2% | $226,870 +1.1% |
| 2019 | $4,007 +0.2% | $224,400 +3.7% |
| 2018 | $3,998 +0% | $216,360 |
| 2017 | $3,998 +4.6% | $216,360 |
| 2016 | $3,824 | $216,360 |
| 2015 | $3,824 +1.3% | $216,360 |
| 2014 | $3,774 +7.7% | $216,360 +3.9% |
| 2012 | $3,506 -4.2% | $208,310 |
| 2011 | $3,659 +1.5% | $208,310 -4.6% |
| 2010 | $3,606 +4.1% | $218,350 |
| 2009 | $3,464 +2% | $218,350 |
| 2008 | $3,397 +12.2% | $218,350 +7% |
| 2007 | $3,027 -1.7% | $204,060 +8.5% |
| 2006 | $3,079 +9.3% | $188,050 |
| 2005 | $2,817 +2.3% | $188,050 +29.5% |
| 2003 | $2,754 +0.8% | $145,220 |
| 2002 | $2,731 +7.9% | $145,220 +18% |
| 2001 | $2,531 | $123,070 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: 50613
Nearby schools
Schools provided by the listing agent
- Elementary: Cedar Heights Elementary
- Middle: Peet Junior High
- High: Cedar Falls 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.



