$65,000
SOLD SEP 5, 2025

303 Lafayette St Waterloo, IA 50703

Franklin Gateway Neighborhood
-- Bed
-- Bath
1,168 Sq Ft
4,158 Sq Ft Lot

Recently Sold

$56 Per Sq Ft

7% Below List Price

34 Days on Market

About This Home

As of September 2025

Investor Special – Value-Add Fourplex with Huge Upside! Opportunity knocks with this value-add fourplex! Located in a solid rental area, this property needs some TLC but offers incredible cash flow potential for the right investor. With a bit of vision and elbow grease, this fixer-upper could shine as a high-performing rental property or a lucrative flip project. Each unit offers its own layout and entrance, giving you flexibility for improvements and future tenant arrangements. Whether you're looking to expand your investment portfolio or take on your next renovation project, this one has the bones to become a cash-generating asset. This motivated seller has it priced to sell and full of opportunity—don’t miss your chance to build equity and income with this property.

Last Agent to Sell the Property

Blake Keating

AWRE - Commercial & Development License #S7149200 Listed on: 06/12/2025

Last Buyer's Agent

Jo Johnson

RE/MAX Concepts - Waterloo License #S64774000

RE/MAX Concepts - Waterloo

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,100

Year Built

  • Built in 1909

Lot Details

  • 4,158 Sq Ft Lot
  • Lot Dimensions are 54x77

Parking

  • 3 Open Parking Spaces

Home Design

  • Concrete Foundation
  • Asphalt Roof
  • Wood Siding

Laundry

  • Laundry on lower level

Schools

  • Cunningham Elementary School
  • Central Middle School
  • East High School

Community Details

  • 4 Units

Listing and Financial Details

  • Tenant pays for electricity, garbage pick-up, gas, heat, lawn care, snow removal, trash collection, water
  • Assessor Parcel Number 891324353004

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,100

Year Built

Built in 1909

Lot Details

0

Listing Details

  • Parcel Number: 891324353004
  • Year Built: 1909
  • Property Sub-Type: Quadruplex
  • PropertyType: Residential Income
  • ResoLaundryFeatures: Lower Level
  • Co List Office Phone: 319-269-2477
  • MLS Status: Closed
  • Above Grade Finished Sq Ft: 1168
  • Reso Roof: Asphalt
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Concrete
  • Below Grade Sq Ft: 1168

Exterior Features

  • Construction Type: Wood Siding
  • Siding: Wood

Garage/Parking

  • Open Parking Spaces: 3
  • Parking Features: Parking Pad, Attached

Utilities

  • Cooling: None
  • Sewer: Public Sewer
  • Utilities: Other
  • Water Source: Public

Schools

  • Elementary School: Cunningham
  • High School: East High
  • Middle Or Junior School: Central

Lot Info

  • Zoning: C-2
  • Lot Dimensions: 54x77
  • Lot Size Sq Ft: 4158

Rental Info

  • Tenant Pays: Electricity, Garbage Pick-up, Gas, Heat, Lawn Care, Snow Removal, Trash Collection, Water, None
  • Lease Term: Other

Multi Family

  • Number Of Units Total: 4

Tax Info

  • Tax Annual Amount: 1100

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 12, 2025
Closed on
Sep 4, 2025
Sold by
Cfo Development Llc
Bought by
Mcm Rentals Lc
Seller's Agent
Blake Keating
AWRE - Commercial & Development
Buyer's Agent
Jo Johnson
RE/MAX Concepts - Waterloo
List Price
$70,000
Sold Price
$65,000
Premium/Discount to List
-$5,000
-7.14%
Views
27
Current Estimated Value
$83,566

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$18,566
Avg. Annual Appreciation
173.19%
Original Mortgage
$95,800
Outstanding Balance
$95,800
Interest Rate
6.74%
Mortgage Type
Credit Line Revolving
Estimated Equity
-$12,234

Purchase Details

Listed on
May 17, 2024
Closed on
Nov 11, 2024
Sold by
Schmidt Randy Lee
Bought by
Cfo Development Llc
Seller's Agent
Amy Wienands
AWRE, EXP Realty, LLC
Buyer's Agent
Phillip Shirk
AWRE - Commercial & Development
List Price
$199,900
Sold Price
$70,000
Premium/Discount to List
-$129,900
-64.98%
Views
57

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-8.95%
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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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Type Sale Price Title Company
Warranty Deed $65,000 None Listed On Document
Fiduciary Deed $70,000 None Listed On Document
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $95,800 Credit Line Revolving
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
09/05/2025 09/05/25 Sold $65,000 -7.1% $56 / Sq Ft
07/16/2025 07/16/25 Pending -- -- --
06/12/2025 06/12/25 For Sale $70,000 0.0% $60 / Sq Ft
11/22/2024 11/22/24 Sold $70,000 -41.7% $60 / Sq Ft View Prior Sale
10/28/2024 10/28/24 Pending -- -- --
08/19/2024 08/19/24 Price Changed $120,000 -40.0% $103 / Sq Ft
05/17/2024 05/17/24 For Sale $199,900 -- $171 / Sq Ft
Source: Northeast Iowa Regional Board of REALTORS®

Tax History Compared to Growth

Source: Public Records

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 $1,532 $83,080 $7,090 $75,990
2024 $1,532 $70,640 $7,090 $63,550
2023 $786 $70,640 $7,090 $63,550
2022 $946 $48,080 $3,040 $45,040
2021 $932 $48,080 $3,040 $45,040
2020 $1,006 $44,330 $3,040 $41,290
2019 $1,006 $41,290 $0 $41,290
2018 $1,130 $41,290 $0 $41,290
2017 $1,204 $41,290 $0 $41,290
2016 $1,286 $41,290 $0 $41,290
2015 $1,286 $41,290 $0 $41,290
2014 $1,378 $44,330 $3,040 $41,290
Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2025

    Blake Keating

    AWRE - Commercial & Development

    (319) 269-2477

    1 in this area

    22 Total Sales

    Blake Keating
    Section Image

  • J

    Buyer's Agent in 2025

    Jo Johnson

    RE/MAX

    (319) 231-4887

    2 in this area

    44 Total Sales

    Jo Johnson
    Section Image
  • Amy Wienands

    Seller's Agent in 2024

    Amy Wienands

    AWRE, EXP Realty, LLC

    (319) 240-7247

    1 in this area

    1,257 Total Sales

    Amy Wienands
    Section Image
  • Phillip Shirk

    Buyer's Agent in 2024

    Phillip Shirk

    AWRE - Commercial & Development

    (319) 239-4446

    5 in this area

    86 Total Sales

    Phillip Shirk
    Section Image
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Map

Source: Northeast Iowa Regional Board of REALTORS®

MLS Number: NBR20252728

Northeast Iowa Regional Board of REALTORS®

APN: 8913-24-353-004

Iowa Black Hawk County Waterloo 50703 Franklin Gateway

303 Lafayette St, Waterloo, IA

Sold

MultiFamily

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Northeast Iowa Regional Board of REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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