2138 Rainbow Dr, Waterloo, IA 50701
Property image
Property image
OFF MARKET

$188,400

Trulia Estimate
  • 3 Beds
  • 1 Bath
  • 1,183 sqft (on 0.59 acres)

2138 Rainbow Dr, Waterloo, IA 50701

Est. Refi. Payment $1,272/mo*
Refinance Your Home
Currently Off Market - Sold Nov 8, 2024 for $168,800

Home Value

Trulia Estimate
$188K
Since last month
Decreased$800 (-0.4%)
Since last year
Increased$16K (+9%)
Since last sale
Increased$20K (+11.6%)
Learn more about this home's value by checking out its Trulia Estimate, the value of nearby homes, and how much similar homes have sold for.

Trulia Estimate

The of this home's value increased by +62% in the last 10 years
MonthEstimated value
2026
August 2026$188K
August 2026$188K
July 2026$189K
June 2026$183K
May 2026$176K
April 2026$171K
March 2026$170K
February 2026$169K
January 2026$170K
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016

Comparable sales

These are recently sold homes that have a similar location or other similar features to this home, like bedrooms, bathrooms, and square footage. Get a sense of the expected prices in the area by viewing these homes.
Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
2161 Rainbow Dr, Waterloo, IA
0.05
Single-Family Home
$245,000
10/16/25
4
2
1,644
2031 Rainbow Dr, Waterloo, IA
0.14
Single-Family Home
$139,500
01/09/26
2
1
1,118
205 S Hackett Rd, Waterloo, IA
0.45
Single-Family Home
$172,400
12/10/25
3
1
1,120
2218 Castle St, Waterloo, IA
0.23
Single-Family Home
$219,500
04/22/26
3
2
1,584
2602 Cedar Heights Dr, Cedar Falls, IA
0.38
Single-Family Home
$165,000
11/17/25
3
1
1,004
313 Longview Dr, Waterloo, IA
0.25
Single-Family Home
$245,000
09/18/25
3
1
1,882
2622 Garden Ave, Cedar Falls, IA
0.32
Single-Family Home
$132,600
11/20/25
3
1
912
131 Niagara Dr, Waterloo, IA
0.28
Single-Family Home
$216,000
05/18/26
3
2
1,596
149 Vera Dr, Waterloo, IA
0.21
Single-Family Home
$196,000
07/09/26
3
1.5
1,224

Nearby home prices

Get a sense of expected prices in the area by checking the value of nearby homes.
Address
Distance
Price
Bed
Bath
Sqft
Status
2161 Rainbow Dr, Waterloo, IA 50701
0.05
$252,100
4
2
1,644
Off Market
2151 Grand Blvd, Waterloo, IA 50701
0.07
$400,000
4
3.5
2,692
Recently Sold
128 Kelly Ct, Waterloo, IA 50701
0.06
$291,400
5
2
1,942
Off Market
108 Helen Rd, Waterloo, IA 50701
0.09
$287,500
4
3
2,652
Recently Sold
136 Kelly Ct, Waterloo, IA 50701
0.08
$306,700
4
3
625
Off Market
114 Helen Rd, Waterloo, IA 50701
0.10
$231,500
3
2
1,640
Off Market
2128 Cardinal Dr, Waterloo, IA 50701
0.12
$266,100
3
2.5
1,632
Off Market
2217 Grand Blvd, Waterloo, IA 50701
0.12
$200,700
2
1.5
1,496
Off Market
2114 Cardinal Dr, Waterloo, IA 50701
0.12
$281,100
4
2
1,636
Off Market
115 Helen Rd, Waterloo, IA 50701
0.11
$202,300
3
1.5
1,996
Off Market
2188 Grand Blvd, Waterloo, IA 50701
0.12
$379,600
4
3
2,242
Off Market

Local Information

  • Map ViewExplore the area around 2138 Rainbow Dr.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Single-Family Home
Built in 1940
0.59 acre lot
1,183 sqft
$159/sqft
Garage

About this House

Deal flipped due to financing. Check out this fantastic property.Welcome to this delightful 1¾ story home featuring 3 bedrooms and 1 bathroom, perfectly situated on a generous 0.59-acre lot in the Cedar Falls School district. Boasting a spacious fenced-in rear yard, this property offers ample space for outdoor activities, gardening, or simply enjoying the day. Step inside to a warm and inviting living room, perfect for relaxing. Other interior highlights include, The kitchen which is both functional and stylish, featuring ample cabinetry and counter space to meet all your culinary needs. All kitchen appliances are included, making this a truly move-in-ready home, hard wood flooring and a cozy dining area conveniently located off the kitchen, ideal for family meals. A detached 2-stall garage provides plenty of storage and parking space. Located in the Cedar Falls School District, this home is perfect for families looking for a peaceful retreat with easy access to local amenities. Furance new in 2010 and Water Heater brand new August 2024. Don’t miss out on this wonderful opportunity!
2138 Rainbow Dr, Waterloo, IA 50701 is a 3 bedroom, 1 bathroom, 1,183 sqft single-family home built in 1940. It last sold for the $168,800 asking price on Nov 8, 2024. This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $188,400, with a rent estimate of $1,266/month.
Last check for updates: about 2 hours ago
Listed by Amy Schaefer, (319) 433-8766
RE/MAX Concepts - Cedar Falls
Bought with: Carissa L Holton, (319) 830-3598, EXP Realty, LLC
Source: Northeast Iowa Regional BOR as distributed by MLS GRID, MLS#20243745

Home Details for 2138 Rainbow Dr

Interior Features

Interior Details
Basement: UnfinishedNumber of Rooms: 6Types of Rooms: Dining Room, Kitchen, Living Room
Beds & Baths
Number of Bedrooms: 3Number of Bathrooms: 1Number of Bathrooms (full): 1
Dimensions and Layout
Living Area: 1183 Square Feet
Appliances & Utilities
Appliances: Dishwasher, Disposal, Microwave Built In, Free-Standing Range, Refrigerator, Electric Water Heater, Water Softener OwnedDishwasherDisposalLaundry: Lower LevelRefrigerator
Heating & Cooling
Heating: Forced Air,Natural GasHas CoolingAir Conditioning: Ceiling Fan(s),Central AirHas HeatingHeating Fuel: Forced Air
Fireplace & Spa
Fireplace: NoneNo Fireplace
Windows, Doors, Floors & Walls
Flooring: Hardwood
Levels, Entrance, & Accessibility
Floors: Hardwood
Security
Security: Smoke Detector(s)

Exterior Features

Exterior Home Features
Roof: Shingle AsphaltFencing: Fenced
Parking & Garage
Number of Carport Spaces: 2Number of Covered Spaces: 2GarageParking Spaces: 2Parking: 2 Stall,Detached Garage,Garage Door Opener
Frontage
Road Surface Type: Concrete
Water & Sewer
Sewer: Public Sewer

Days on Market

Cumulative Days on Market: 42

Property Information

Year Built
Year Built: 1940
Property Type / Style
Property Type: ResidentialProperty Subtype: Single Family Residence
Building
Construction Materials: Aluminum Siding, OtherNo Additional Parcels
Property Information
Parcel Number: 891317404044

Price & Status

Price
List Price: $168,800
Status Change & Dates
Off Market Date: Fri Oct 04 2024

Active Status

MLS Status: Closed

Location

Direction & Address
City: Waterloo
School Information
Elementary School: Cedar Heights ElementaryJr High / Middle School: Peet Junior HighHigh School: Cedar Falls High

Community

Community Features: Sidewalks

Lot Information

Lot Area: 0.59 acres

Listing Info

Special Conditions: Standard

Miscellaneous

BasementMls Number: 20243745

Additional Information

Sidewalks

Price and Tax history

DateEventPrice
Nov 8, 2024
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20243745
Sold
$168,800
Oct 4, 2024
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20243745
Pending
$168,800
Sep 24, 2024
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20243745
PriceChange
$168,800
Price decreased by 0%
Aug 27, 2024
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20243745
Pending
$168,900
Aug 23, 2024
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20243745
Listed For Sale
$168,900

Market trends in Waterloo

Last updated July 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$194K
$6KMoM
Sale-to-List Price
99.1%
0.1%MoM
Price per sq ft
$126
$0MoM
Available listings
242
5MoM

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. "
    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

LGBTQ Local Legal Protections

IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.
Based on information submitted to the MLS GRID as of 2026-09-04 02:57:43 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. Click here for more information

Frequently asked questions about 2138 Rainbow Dr

  • What is 2138 Rainbow Dr estimated to be worth?
    Trulia's estimated value for 2138 Rainbow Dr in Waterloo, IA is $188,400.
  • What is the price history for 2138 Rainbow Dr?
    2138 Rainbow Dr in Waterloo, IA last sold for $168,800 in November 2024.
  • Is Waterloo a buyer's or seller's market?
    Waterloo is currently a seller's market, based on recent for-sale activity.
  • What's the median sale price in Waterloo?
    The median sale price in Waterloo is $194K. That is up $6K from the prior month.
  • Does 2138 Rainbow Dr have air conditioning?
    Yes, 2138 Rainbow Dr in Waterloo, IA has air conditioning.
  • Does 2138 Rainbow Dr have laundry facilities?
    Yes, 2138 Rainbow Dr in Waterloo, IA has laundry facilities.

Explore by feature - Pet Friendly

69 pet-friendly rentals in Waterloo, IA

Explore by feature - Garage

26 rentals with a garage in Waterloo, IA

Explore by feature - Air Conditioning

48 rentals with air conditioning in Waterloo, IA

Explore by feature - Washer/dryer

36 rentals with a washer/dryer in Waterloo, IA

Explore by feature - Outdoor Space

13 rentals with an outdoor space in Waterloo, IA

Apartments for Rent

Skip to last item
Skip to first item

Off Market Homes Near 2138 Rainbow Dr

Skip to last item
Skip to first item

Homes for sale near 2138 Rainbow Dr

Skip to last item
Skip to first item
Skip to last item
  • Results are loading
Skip to first item