1302 Rainbow Dr, Waterloo, IA 50701
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Property image
OFF MARKET

1302 Rainbow Dr
Waterloo, IA 50701

  • 3 Beds
  • 2 Baths
  • 1,820 sqft (on 0.34 acres)

$244,900

Trulia Estimate
as of Jul 10, 2026
Est. Refi. Payment $1,600/mo*
Refinance Your Home

$244,900

Trulia Estimate
as of Jul 10, 2026
Est. Refi. Payment $1,600/mo*
Refinance Your Home
3 Beds
2 Baths
1,820 sqft
(on 0.34 acres)

Local Information

  • Map ViewExplore the area around 1302 Rainbow Dr.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Description

A nature lovers paradise! This cape cod style home is nestled in tall trees and gives you the feeling of country living with a city address. On the main level you will find wonderful hardwood floors, an updated kitchen, formal dining room, spacious living room, bonus study nook/office area, 2 bedrooms and 1 full bath. The newer windows show a wonderful view of the tree-lines yard. In the lower level you have another bedroom, full bath and laundry room. Enjoy the warm summer evenings on the patio with a custom brick oven fireplace and fire pit. The second level of the house has great potential to easily finish off as a large master bedroom or family room. This is one to see!
1302 Rainbow Dr, Waterloo, IA 50701 is a 3 bedroom, 2 bathroom, 1,820 sqft single-family home built in 1949. It last sold for $190,000 on Apr 16, 2021. It is currently off market. The Trulia Estimate is $244,900, with a rent estimate of $1,745/month.

Home Highlights

Parking
Garage
Outdoor
Patio, Deck
A/C
Heating & Cooling
HOA
None
Price/Sqft
No Info
Listed
Less than a day ago

Home Details for 1302 Rainbow Dr

Interior Features

Interior Details
BasementNumber of Rooms: 5Types of Rooms: Dining Room
Heating & Cooling
Heating: Other, GasAir ConditioningCooling System: CentralHeating Fuel: Other
Levels, Entrance, & Accessibility
Stories: 1Floors: Hardwood
Appliances & Utilities
DishwasherDryerMicrowaveRefrigerator
Fireplace & Spa
Fireplace

Exterior Features

Exterior Home Features
Roof: AsphaltDeckExterior: VinylFoundation Type: Concrete BlockPatio
Parking & Garage
GarageParking: Carport, Garage Attached

Property Information

Year Built
Year Built: 1949
Property Type / Style
Property Type: Single Family HomeArchitecture: Cape Cod

Lot Information

Lot Area: 0.34 acres

Price History for 1302 Rainbow Dr

DatePriceEventSource
04/16/2021$190,000Sold
Northeast Iowa Regional BOR as distributed by MLS GRID #20210837
12/01/2018$184,900ListingRemovedAgent Provided
09/04/2018$184,900PriceChange
Agent Provided
07/31/2018$186,900PriceChange
Agent Provided
06/02/2018$189,900Listed For SaleAgent Provided
03/23/2017$176,000Sold
Northeast Iowa Regional BOR as distributed by MLS GRID #20165214
05/14/2013$170,000Sold
N/A
03/09/2013$173,900Listed For SaleAgent Provided

Market trends in Waterloo

Last updated May 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$176K
$20.75KMoM
Sale-to-List Price
97.9%
0.3%MoM
Price per sq ft
$121
$9MoM
Available listings
221
11MoM
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Property Tax and Assessment

Year2025
Tax$4,193
Assessment$227,960
Home facts updated by county records

Comparable Sales for 1302 Rainbow Dr

Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
1214 Pleasant Valley Dr, Waterloo, IA
0.16
Single-Family Home
$247,500
04/17/26
3
1.5
2,130
1712 Rainbow Dr, Waterloo, IA
0.38
Single-Family Home
$198,500
03/13/26
3
2
1,514
211 Auburn St, Waterloo, IA
0.31
Single-Family Home
$235,000
03/02/26
3
2
1,628
1530 Maxine Ave, Waterloo, IA
0.32
Single-Family Home
$212,500
09/29/25
3
2
1,650
114 Hanna Blvd, Waterloo, IA
0.30
Single-Family Home
$232,000
03/06/26
4
2
2,214
1434 Rainbow Dr, Waterloo, IA
0.13
Single-Family Home
$230,000
06/18/26
5
2
2,290
320 Valley Rd, Waterloo, IA
0.35
Single-Family Home
$230,500
04/23/26
4
2
2,246
131 Niagara Dr, Waterloo, IA
0.55
Single-Family Home
$216,000
05/18/26
3
2
1,596
1918 Castle St, Waterloo, IA
0.55
Single-Family Home
$160,000
09/29/25
3
1.5
1,642
1817 Rainbow Dr, Waterloo, IA
0.48
Single-Family Home
$224,900
12/22/25
4
2
1,512

Nearby homes

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Assigned Schools

These are the assigned schools for 1302 Rainbow Dr.
View nearby schools on GreatSchools
The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.

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

  • 43 % 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. "
    1
    Flag
  • Tali S.
    "Very quiet neighborhood other than the occasional car driving by & faint sound of trains. Great neighbors, mostly homeowners with kids & elderly."
    0
    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

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Apartments for Rent

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Explore by feature - Pet Friendly

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Homes for sale near 1302 Rainbow Dr

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Off Market Homes Near 1302 Rainbow Dr

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