NOT LISTED FOR SALE

2161 Rainbow Dr Waterloo, IA 50701

Estimated Value: $243,000 - $250,565

4 Beds
2 Baths
1,644 Sq Ft
$150/Sq Ft Est. Value

Last Sold October 16, 2025

Last sale price $245,000 $149 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $1,650/month

11 Days on Market

Highlights

  • Deck
  • Wooded Lot
  • Garden
  • Peet Junior High School Rated A-
  • 3 Car Detached Garage
  • Forced Air Heating and Cooling System

About This Home

As of October 2025

Waterloo address Cedar Falls schools!! This fantastic 3 bedroom 2 bath ranch is situated on over a half acre lot with beautiful landscaping and a private covered bridge to access the back of the lot. Main level features a bright updated kitchen with stainless steel appliances, dining area with sliders to newer raised deck, spacious living room, 3 nice sized bedrooms and updated full bath. Finished walk-out lower level offer a family room, 4th bedroom, 3/4 bath and two storage areas. Outside offers plenty of storage space with two garages (24X24 and 18X20).

Last Agent to Sell the Property

Scott Seeley

RE/MAX Concepts - Cedar Falls License #B42928 Listed on: 08/16/2025

RE/MAX Concepts - Cedar Falls

Last Buyer's Agent

Emsad Begic

Vine Valley Real Estate License #B56539000

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $4,316

Year Built

  • Built in 1969

Lot Details

  • 0.62 Acre Lot
  • Lot Dimensions are 74 x 365
  • Wooded Lot
  • Garden

Home Design

  • Shingle Roof
  • Asphalt Roof
  • Vinyl Siding

Interior Spaces

  • 1,644 Sq Ft Home
  • Partially Finished Basement
  • Walk-Out Basement
  • Laundry on lower level

Bedrooms and Bathrooms

  • 4 Bedrooms

Parking

  • 3 Car Detached Garage
  • Garage Door Opener

Schools

  • Cedar Heights Elementary School
  • Peet Junior High
  • Cedar Falls High School

Additional Features

  • Deck
  • Forced Air Heating and Cooling System

Community Details

  • Midway In Castle Hill Subdivision

Listing and Financial Details

  • Assessor Parcel Number 891317452003

Home Details

Home Type

Single Family

Est. Annual Taxes

$4,316

Year Built

Built in 1969

Lot Details

0.62 Acres

Listing Details

  • Parcel Number: 891317452003
  • Year Built: 1969
  • Property Sub-Type: Single Family Residence
  • PropertyType: Residential
  • ResoLaundryFeatures: Lower Level
  • ResoLotFeatures: Landscaped, Wooded
  • Lot Size Acres: 0.62
  • Road Surface Type: Black Top
  • Co List Office Phone: 319-266-7100
  • MLS Status: Closed
  • Subdivision Name: Midway in Castle Hill
  • Reso Fireplace Features: None
  • Reso Roof: Shingle, Asphalt
  • TotalFinishedSquareFootage: 1644
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Basement: Walk-Out Access, Partially Finished
  • Full Bathrooms: 1
  • Three Quarter Bathrooms: 1
  • Total Bedrooms: 4
  • Below Grade Sq Ft: 500
  • BelowGradeArea: 1144

Exterior Features

  • Construction Type: Vinyl Siding
  • Exterior Features: Garden
  • Other Structures: Storage
  • Patio And Porch Features: Deck

Garage/Parking

  • Parking Features: 3 or More Stalls, Detached Garage, Garage Door Opener

Utilities

  • Cooling: Central Air
  • Heating: Forced Air, Natural Gas
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association Fee Frequency: N/A

Schools

  • Elementary School: Cedar Heights Elementary
  • High School: Cedar Falls High
  • Middle Or Junior School: Peet Junior High

Lot Info

  • Zoning: R-1
  • Lot Dimensions: 74 X 365
  • Lot Size Sq Ft: 27010
  • Additional Parcels: No

Tax Info

  • Tax Annual Amount: 4316

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 16, 2025
Closed on
Oct 13, 2025
Sold by
Elfritz Kristen
Bought by
Lewis Dylan
Seller's Agent
Scott Seeley
RE/MAX Concepts - Cedar Falls
Buyer's Agent
Emsad Begic
Vine Valley Real Estate
List Price
$249,000
Sold Price
$245,000
Premium/Discount to List
-$4,000
-1.61%
Views
58
Current Estimated Value
$249,489

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$4,489
Avg. Annual Appreciation
1.39%
Original Mortgage
$12,250
Outstanding Balance
$11,492
Interest Rate
6.35%
Mortgage Type
New Conventional
Estimated Equity
$234,899

Purchase Details

Listed on
Mar 10, 2021
Closed on
Apr 30, 2021
Sold by
Schmidt Alexandria E
Bought by
Elfritz Kristen
Seller's Agent
Linda Curran
Oakridge Real Estate
List Price
$195,000
Sold Price
$205,000
Premium/Discount to List
$10,000
5.13%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.07%
Original Mortgage
$194,500
Interest Rate
3%
Mortgage Type
New Conventional

Purchase Details

Listed on
Sep 13, 2019
Closed on
Nov 8, 2019
Sold by
Matthias Gary D and Mathias Kathy
Bought by
Schmidt Alexandria E
Seller's Agent
Amy Wienands
AWRE, EXP Realty, LLC
List Price
$174,900
Sold Price
$174,900

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
11.41%
Original Mortgage
$166,155
Interest Rate
3.5%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Purchase History

Date Buyer Sale Price Title Company
Lewis Dylan $245,000 Title Services Corporation
Elfritz Kristen $205,000 None Available
Schmidt Alexandria E $175,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lewis Dylan $12,250
Open Lewis Dylan $236,950
Previous Owner Elfritz Kristen $194,500
Previous Owner Schmidt Alexandria E $166,155
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
10/16/2025 10/16/25 Sold $245,000 -1.6% $149 / Sq Ft
08/27/2025 08/27/25 Pending -- -- --
08/16/2025 08/16/25 For Sale $249,000 +21.5% $151 / Sq Ft
04/30/2021 04/30/21 Sold $205,000 +5.1% $125 / Sq Ft View Prior Sale
03/12/2021 03/12/21 Pending -- -- --
03/10/2021 03/10/21 For Sale $195,000 +11.5% $119 / Sq Ft
11/12/2019 11/12/19 Sold $174,900 0.0% $106 / Sq Ft View Prior Sale
09/26/2019 09/26/19 Pending -- -- --
09/13/2019 09/13/19 For Sale $174,900 -- $106 / Sq Ft
Source: Northeast Iowa Regional Board of REALTORS®

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $4,224 $232,350 $34,410 $197,940
2024 $4,224 $214,840 $34,410 $180,430
2023 $3,716 $211,930 $34,410 $177,520
2022 $3,562 $170,340 $34,410 $135,930
2021 $3,020 $165,720 $34,410 $131,310
2020 $2,936 $141,610 $27,530 $114,080
2019 $2,936 $141,610 $27,530 $114,080
2018 $2,634 $136,640 $27,530 $109,110
2017 $2,712 $128,700 $27,530 $101,170
2016 $2,546 $128,700 $27,530 $101,170
2015 $2,546 $128,700 $27,530 $101,170
2014 $2,562 $128,700 $27,530 $101,170
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northeast Iowa Regional Board of REALTORS®

MLS Number: NBR20253971

Northeast Iowa Regional Board of REALTORS®

APN: 8913-17-452-003

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