1135 Rainbow Dr, Waterloo, IA 50701
Property image
Property image
OFF MARKET

$131,300

Trulia Estimate
as of Sep 17, 2026
  • 4 Beds
  • 1 Bath
  • 1,477 sqft

1135 Rainbow Dr, Waterloo, IA 50701

Home Highlights

Single-Family Home
1,477 sqft
$89/sqft

Local Information

  • Map ViewExplore the area around 1135 Rainbow Dr.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

About this House

SHOWINGS STARTING 8/3/26! Additional updated photos coming 8/1/2026

Welcome to this 4-bedroom, 1.5 bath home in Waterloo, IA! The main floor boasts a good-sized family room that overlooks the traditional dining room and the first bedroom to your right. Through the dining room is the large kitchen which provides an electric stove, refrigerator and plenty of cabinet space! At the rear of the house is the 1/2 bathroom and exit out to the side covered porch. As you proceed to the second floor there will be 3 bedrooms and the full bathroom through the large bedroom. Additional highlights include optional laundry hookups in the basement, off street parking!

Additional Information:
Pets are welcome with proof of vaccinations, proper registration and a monthly fee.
Section 8 is not accepted at this location.
Owner does not provide washer or dryer.
Tenant responsible for maintaining renters' insurance for the duration of their lease.
Tenant responsible for all utilities, lawn care and snow removal.

Call today to schedule a viewing!
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MGT Property Management
1135 Rainbow Dr, Waterloo, IA 50701 is a 4 bedroom, 1 bathroom, 1,477 sqft single-family home. It last sold for $51,500 on Dec 22, 2020 (3,862% above the $1,300 asking price). More recently, it was listed as a rental in July 2026 with an asking price of $1,300 per month. That rental listing was removed on July 28, 2026. This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $131,300, with a rent estimate of $1,594/month.

Home Details for 1135 Rainbow Dr

Property Information

Property Type / Style
Property Type: Single Family Home

Rental Terms, Policies & Fees

Lease Term: Contact For DetailsAvailable: now

Comparable Sales for 1135 Rainbow Dr

Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
425 Auburn St, Waterloo, IA
0.32
Single-Family Home
$146,000
03/12/26
3
1
1,483 sqft
400 Woodbridge St, Waterloo, IA
0.28
Single-Family Home
$188,000
01/29/26
3
1
1,433 sqft
1214 Pleasant Valley Dr, Waterloo, IA
0.12
Single-Family Home
$247,500
04/17/26
3
1.5
2,130 sqft
432 Ardmore St, Waterloo, IA
0.33
Single-Family Home
$155,000
11/25/25
3
1
1,413 sqft
412 Hughes Dr, Waterloo, IA
0.39
Single-Family Home
$192,500
03/09/26
4
1
1,581 sqft
1129 Maxine Ave, Waterloo, IA
0.35
Single-Family Home
$189,900
08/07/26
3
1
1,478 sqft
1108 Maynard Ave, Waterloo, IA
0.42
Single-Family Home
$190,000
12/18/25
4
2
1,607 sqft
427 Wheeler Dr, Waterloo, IA
0.35
Single-Family Home
$194,000
06/29/26
3
1
1,419 sqft
437 Ardmore St, Waterloo, IA
0.34
Single-Family Home
$210,000
10/17/25
3
1.5
1,554 sqft
301 S Hackett Rd, Waterloo, IA
0.52
Single-Family Home
$70,000
05/15/26
3
1
912 sqft

Nearby homes

Get a sense of prices in the area by checking nearby homes.
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  • 125 Coral Dr, Waterloo, IA 50701
    OFF MARKET
    Est. $306,500
    3 bd
    3 ba
    1,561 sqft
    125 Coral Dr,
    Waterloo, IA 50701
    Emsad Begic, Vine Valley Real Estate, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 1214 Pleasant Valley Dr, Waterloo, IA 50701
    SOLD
    APR 17, 2026
    Emsad Begic, Vine Valley Real Estate, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 209 Spieker Rd, Waterloo, IA 50701
    OFF MARKET
    Est. $259,300
    3 bd
    2 ba
    1,806 sqft
    209 Spieker Rd,
    Waterloo, IA 50701
    Diane Litton, Oakridge Real Estate, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 209 Zachary Ct, Waterloo, IA 50701
    OFF MARKET
    Est. $297,400
    3 bd
    2.5 ba
    2,008 sqft
    209 Zachary Ct,
    Waterloo, IA 50701
    Colleen Tierney, RE/MAX Concepts - Cedar Falls, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 95 Joy Dr, Waterloo, IA 50701
    OFF MARKET
    Est. $186,400
    3 bd
    1 ba
    1,440 sqft
    95 Joy Dr,
    Waterloo, IA 50701
    Luann M Moran, Realty ONE Group Movement.., Northeast Iowa Regional BOR as distributed by MLS GRID
  • 114 Hanna Blvd, Waterloo, IA 50701
    FOR SALE
    3D VIEW
    0.25 ACRES
    $240,000
    4 bd
    2 ba
    2,214 sqft
    114 Hanna Blvd,
    Waterloo, IA 50701
    Rachel Iverson, Oakridge Real Estate, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 211 Auburn St, Waterloo, IA 50701
    SOLD
    MAR 2, 2026
    $235,000
    3 bd
    2 ba
    1,628 sqft
    211 Auburn St,
    Waterloo, IA 50701
    Bob Delveau, Oakridge Real Estate, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 227 Spieker Rd, Waterloo, IA 50701
    SOLD
    AUG 10, 2026
    $253,500
    2 bd
    2 ba
    2,173 sqft
    227 Spieker Rd,
    Waterloo, IA 50701
    Janae E Nuss, Oakridge Real Estate, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 136 Valley Rd, Waterloo, IA 50701
    OFF MARKET
    Est. $248,000
    4 bd
    2 ba
    2,020 sqft
    136 Valley Rd,
    Waterloo, IA 50701
    Michael Taylor, Lockard Realty Company, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 220 Spieker Rd, Waterloo, IA 50701
    OFF MARKET
    Est. $227,900
    2 bd
    2.5 ba
    1,813 sqft
    220 Spieker Rd,
    Waterloo, IA 50701
    Amy Wienands, AWRE, EXP Realty, LLC, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 168 Valley Rd, Waterloo, IA 50701
    OFF MARKET
    Est. $265,000
    3 bd
    2 ba
    1,826 sqft
    168 Valley Rd,
    Waterloo, IA 50701
    Carter M Christensen, Oakridge Real Estate, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 210 Hanna Blvd, Waterloo, IA 50701
    OFF MARKET
    Est. $176,500
    3 bd
    1.5 ba
    1,264 sqft
    210 Hanna Blvd,
    Waterloo, IA 50701
    Dan Berregaard,Crs,Gri, Oakridge Real Estate, Northeast Iowa Regional BOR as distributed by MLS GRID
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Rental Market Trends in Waterloo

Last updated Sep 2026
Trulia Rent Estimate$1,594/mo
Average rent
$850
Available listings
246
View rental market trends in Waterloo, IA

Around this home

What Locals Say about Waterloo

At least 264 Trulia users voted on each feature.

  • 89 % Say car is needed

  • 83 % Say yards are well-kept

  • 80 % Say parking is easy

  • 77 % Say it's dog friendly

  • 70 % Say there's holiday spirit

  • 66 % Say kids play outside

  • 64 % Say there are sidewalks

  • 48 % Say it's quiet

  • 47 % Say neighbors are friendly

  • 47 % Say people would walk alone at night

  • 44 % Say streets are well-lit

  • 42 % Say there's wildlife

  • 42 % Say they plan to stay for at least 5 years

  • 33 % Say it's walkable to grocery stores

  • 29 % Say it's walkable to restaurants

  • 20 % Say there are community events

Sourced by Trulia users. Learn more about our methodology.
  • Misslindsayb
    "Centrally located, traffic can be heavy/frustrating. You can make good time if you hit the stoplights just right, which is hard to do most days. "
    0
    Flag
  • Susanward13
    "Consider this a safe neighborhood and there are lots of kids living here. A policeman lives on the street."
    0
    Flag
  • Jovanti Rucker
    "It is very busy most of the time the light are a headache. They’re a lot of lights to go through to get to where I need to go."
    0
    Flag
  • Dontreal3
    "It’s ok. It’s not the worst but it’s also not the best. "
    0
    Flag
  • Trulia User
    "Peacefully quiet neighborhood. neighbors keep to themselves mostly. Alot of dogs throughout the whole area, which is nice to know, it's a pet friendly area to live in. "
    4
    Flag
  • Trulia User
    "I’ve lived here for years mostly everybody that lives in the neighborhood is really nice & friendly but I live with my dad & trying to find my own apartment right now. "
    4
    Flag
  • Susan.wirtjes
    "This is a safe and friendly neighborhood. Kids play outside. We are close to good schools. Shopping is close by. "
    8
    Flag
  • Dominique K. .
    " The community is really good if you get into people like that. There is not a lot to do around here unless you have money. There are a lot of trains around. People have dogs around here a lot and I hear gunshots a lot. I grew up here so I don’t find it very exciting. Most people got to work come home and stay away from each other. "
    2
    Flag
  • Tali S.
    "Very quiet neighborhood other than the occasional car driving by & faint sound of trains. Great neighbors, mostly homeowners with kids & elderly."
    1
    Flag
  • Lache S.
    "... I don’t know I been here only a year and aside from the bad I seen few good most people stay to they self "
    0
    Flag
  • Holly W.
    "schools are over crowded and children are often let slip through the cracks in the education system here "
    1
    Flag
  • Charles A.
    "15 minutes to work. Waterloo is easy to get around and not a lot of traffic .... zzzz xxdrc then. Gyyhbb"
    1
    Flag
  • Lamont S.
    "Lots of retirees here now. Mixed bag for the rest. I had seen several first time owners buying in. Plenty of remodeling and renovations going on now too."
    4
    Flag
  • Trulia User
    "it has some nice people, with sketchy people mixed in. it's too loud with harleys speeding hard through here and people thumping music too loud at all hours. I would not recommend this neighborhood to a young professional person. "
    0
    Flag
  • Kimmy21920
    "Convenient location and traffic is not as congested as the big city. Used to be a great place, but not so much anymore."
    1
    Flag
  • Mkesterson79
    "Listening to gun shots and train whistles at night to fall asleep to. Creates a uniquely unpleasant experience. "
    0
    Flag
  • Trulia User
    "Would love a dog park close by, or even respectful owners who pick up after their dog when they walk them"
    6
    Flag
  • Chris Wright
    "I lived in neighborhood for ten years as a kid, I always love the area, would love to own a house in that again, hope in very near future."
    1
    Flag
  • Mary Sue Adams
    "Safe streets, quality neighbors,clean, near a park,rural feeling- plenty of room between everyone. Lots of family and open spaces, but still near shopping and eats."
    3
    Flag
  • Kathy Cox White Dickerson
    "I moved to this neighborhood last summer and love it. I feel safe and secure,and neighbors are very nice."
    0
    Flag
  • Aley S.
    "Is a small neighborhood and quite and seems like a very lovely place to have a family and there are a lot of kid in the neighborhood "
    2
    Flag
  • Aschot12
    "It's better than north Waterloo for crime and lots of shade trees. It's nice to be near to 4th street for convenience even with traffic noise. "
    0
    Flag

LGBTQ Local Legal Protections

Price and Tax history

DateEventPrice
Jul 28, 2026
Source: Zillow Rentals
ListingRemoved
$1,300
Jul 17, 2026
Source: Zillow Rentals
Listed For Rent
$1,300
Jun 12, 2025
Source: Zillow Rentals
ListingRemoved
$1,025
May 15, 2025
Source: Zillow Rentals
Listed For Rent
$1,025
Nov 22, 2023
Source: Zillow Rentals
ListingRemoved

Frequently asked questions about 1135 Rainbow Dr

  • What is 1135 Rainbow Dr estimated to be worth?
    Trulia's estimated value for 1135 Rainbow Dr in Waterloo, IA is $131,300.
  • What is the price history for 1135 Rainbow Dr?
    1135 Rainbow Dr in Waterloo, IA last sold for $51,500 in December 2020.
  • Is Waterloo a buyer's or seller's market?
    Waterloo is currently a balanced market, based on recent for-sale activity.
  • What's the median sale price in Waterloo?
    The median sale price in Waterloo is $188K. That is down $6K from the prior month.

Homes for rent near 1135 Rainbow Dr

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Affordability

TIP:Try to keep your rent within a third of your gross household income. Learn why in our Renter's Guide.
For this property
PER YEAR
is the suggested income
Win over prospective landlords with your smart budgeting. As a good rule of thumb, ideally you would have at least three times your monthly rent in combined household income.
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