2138 Rainbow Dr, Waterloo, IA 50701
OFF MARKET

2138 Rainbow Dr
Waterloo, IA 50701

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

$178,500

Trulia Estimate
as of Jun 19, 2026

$178,500

Trulia Estimate
as of Jun 19, 2026
3 Beds
1 Bath
1,183 sqft
(on 0.59 acres)

Local Information

Map showing home location
© Google
-- mins to
Commute Destination

Description

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!
This property is off market, which means it's not currently listed for sale or rent on Trulia. This may be different from what's available on other websites or public sources. This description is from November 09, 2024

Home Highlights

Parking
Garage
Outdoor
No Info
A/C
Heating & Cooling
HOA
None
Price/Sqft
No Info
Listed
180+ days ago

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
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

Price History for 2138 Rainbow Dr

DatePriceEventSource
11/08/2024$168,800Sold
Northeast Iowa Regional BOR as distributed by MLS GRID #20243745
10/04/2024$168,800PendingNortheast Iowa Regional BOR as distributed by MLS GRID #20243745
09/24/2024$168,800PriceChange
Northeast Iowa Regional BOR as distributed by MLS GRID #20243745
08/27/2024$168,900PendingNortheast Iowa Regional BOR as distributed by MLS GRID #20243745
08/23/2024$168,900Listed For SaleNortheast Iowa Regional BOR as distributed by MLS GRID #20243745
05/01/2008$111,000Sold
N/A
01/30/2008$109,950PriceChange
Agent Provided
11/14/2007$114,900Listed 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$2,918
Assessment$162,440
Home facts updated by county records

Homeowner tools

Estimated monthly rent$1,392/mo
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Homes for rent near 2138 Rainbow Dr

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Comparable Sales for 2138 Rainbow Dr

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
115 Helen Rd, Waterloo, IA
0.11
Single-Family Home
$196,000
07/28/25
3
1.5
1,996
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
137 Vera Dr, Waterloo, IA
0.20
Single-Family Home
$224,900
05/14/26
3
2.5
1,640

Nearby homes

Get a sense of prices in the area by checking nearby homes.
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  • 2161 Rainbow Dr, Waterloo, IA 50701
    SOLD
    OCT 16, 2025
    $245,000
    4 bd
    2 ba
    1,644 sqft
    2161 Rainbow Dr,
    Waterloo, IA 50701
    Scott Seeley Gri, Crs, RE/MAX Concepts - Cedar Falls, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 2151 Grand Blvd, Waterloo, IA 50701
    SOLD
    MAR 20, 2026
    $400,000
    4 bd
    3.5 ba
    2,692 sqft
    2151 Grand Blvd,
    Waterloo, IA 50701
    Amy Wienands, AWRE, EXP Realty, LLC, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 128 Kelly Ct, Waterloo, IA 50701
    OFF MARKET
    Est. $295,600
    5 bd
    2 ba
    1,942 sqft
    128 Kelly Ct,
    Waterloo, IA 50701
    Carl Ericson, Oakridge Real Estate, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 108 Helen Rd, Waterloo, IA 50701
    SOLD
    APR 2, 2026
    $287,500
    4 bd
    3 ba
    2,652 sqft
    108 Helen Rd,
    Waterloo, IA 50701
    Luke Bartlett, Oakridge Real Estate, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 136 Kelly Ct, Waterloo, IA 50701
    OFF MARKET
    Est. $298,900
    4 bd
    3 ba
    625 sqft
    136 Kelly Ct,
    Waterloo, IA 50701
    Other Other, Northeast Iowa Regional Board of Realtors, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 114 Helen Rd, Waterloo, IA 50701
    OFF MARKET
    Est. $233,000
    3 bd
    2 ba
    1,640 sqft
    114 Helen Rd,
    Waterloo, IA 50701
    Joshua Bey, Oakridge Real Estate, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 2128 Cardinal Dr, Waterloo, IA 50701
    OFF MARKET
    Est. $268,400
    3 bd
    2.5 ba
    1,632 sqft
    2128 Cardinal Dr,
    Waterloo, IA 50701
    Luke Bartlett, Oakridge Real Estate, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 2217 Grand Blvd, Waterloo, IA 50701
    OFF MARKET
    Est. $196,200
    2 bd
    1.5 ba
    1,496 sqft
    2217 Grand Blvd,
    Waterloo, IA 50701
    Jason Strelow, Berkshire Hathaway Home Services One Realty Centre, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 2114 Cardinal Dr, Waterloo, IA 50701
    OFF MARKET
    Est. $279,600
    4 bd
    2 ba
    1,636 sqft
    2114 Cardinal Dr,
    Waterloo, IA 50701
    Amy Wienands, AWRE, EXP Realty, LLC, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 115 Helen Rd, Waterloo, IA 50701
    OFF MARKET
    Est. $196,700
    3 bd
    1.5 ba
    1,996 sqft
    115 Helen Rd,
    Waterloo, IA 50701
    Troy Olson, Oakridge Real Estate, Northeast Iowa Regional BOR as distributed by MLS GRID
  • 2188 Grand Blvd, Waterloo, IA 50701
    OFF MARKET
    Est. $382,000
    4 bd
    3 ba
    2,242 sqft
    2188 Grand Blvd,
    Waterloo, IA 50701
    Elke M Gerdes, Structure Real Estate, Northeast Iowa Regional BOR as distributed by MLS GRID
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Assigned Schools

These are the assigned schools for 2138 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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Homes for sale near 2138 Rainbow Dr

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Off Market Homes Near 2138 Rainbow Dr

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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 2026-06-18 19:47:13 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
2138 Rainbow Dr, Waterloo, IA 50701 is a 3 bedroom, 1 bathroom, 1,183 sqft single-family home built in 1940. This property is not currently available for sale. 2138 Rainbow Dr was last sold on Nov 8, 2024 for $168,800 (0% higher than the asking price of $168,800). The current Trulia Estimate for 2138 Rainbow Dr is $178,500.