Seller's Agent in 2026
Gordon Sorensen
RE/MAX
(319) 269-1164
5 in this area
175 Total Sales
401 Dearborn Ave Waterloo, IA 50703
Neighbors for Life Neighborhood
2
Beds
1
Bath
660
Sq Ft
5,000
Sq Ft Lot
Highlights
- 1 Car Detached Garage
- Forced Air Heating and Cooling System
- 5-minute walk to Cedar Park
About This Home
As of January 2026Presenting a versatile real estate opportunity, this charming single-family home offers immense potential for both savvy investors seeking a reliable income stream and first-time homebuyers looking for an accessible entry point into homeownership. Currently operating as a sound rental property with a consistent history, it can be seamlessly maintained as an investment to immediately generate passive income. Alternatively, its comfortable layout, manageable size, and appealing location make it an ideal starter home, providing a fantastic foundation for those ready to leave renting behind and build equity. This property delivers exceptional flexibility, serving dual roles as a stable asset or a comfortable personal residence ready for your vision. Seller is a licensed Realtor in the State of Iowa. There are additional properties for sale, reach out or have your agent reach out for the current list.
Last Agent to Sell the Property
RE/MAX Concepts - Cedar Falls License #B59768000 Listed on: 11/14/2025
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $1,064
Year Built
- Built in 1949
Lot Details
- 5,000 Sq Ft Lot
- Lot Dimensions are 125 x 40
- Property is zoned R-2
Parking
- 1 Car Detached Garage
Home Design
- 660 Sq Ft Home
- Block Foundation
- Asphalt Roof
- Vinyl Siding
Bedrooms and Bathrooms
- 2 Bedrooms
- 1 Full Bathroom
Schools
- Highland Elementary School
- George Washington Carver Academy Middle School
- East High School
Utilities
- Forced Air Heating and Cooling System
Community Details
- Blowers Addition Subdivision
Listing and Financial Details
- Total Actual Rent $825
- Assessor Parcel Number 891230327006
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Nov 14, 2025
Closed on
Jan 26, 2026
Sold by
Malbec Properties Llc
Bought by
80 Investments Llc
Seller's Agent
Gordon Sorensen
RE/MAX Concepts - Cedar Falls
Buyer's Agent
Lynette Sorensen
RE/MAX Concepts - Cedar Falls
List Price
$80,000
Sold Price
$75,889
Premium/Discount to List
-$4,111
-5.14%
Views
2
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
58.19%
Original Mortgage
$116,000
Outstanding Balance
$116,000
Interest Rate
6.21%
Mortgage Type
New Conventional
Estimated Equity
-$37,635
Purchase Details
Listed on
Apr 19, 2019
Closed on
Jun 7, 2019
Sold by
Verbck Norman J and Verbeck Cynthia J
Bought by
Malbec Properties Llc
Seller's Agent
Gordon Sorensen
RE/MAX Concepts - Cedar Falls
List Price
$48,000
Sold Price
$45,000
Premium/Discount to List
-$3,000
-6.25%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.18%
Original Mortgage
$39,000
Interest Rate
4.1%
Mortgage Type
New Conventional
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $76,000 | None Listed On Document | |
| Warranty Deed | $45,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $116,000 | New Conventional | |
| Previous Owner | $39,000 | New Conventional |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 01/29/2026 01/29/26 | Sold | $75,889 | -5.1% | $115 / Sq Ft | |
| 12/14/2025 12/14/25 | Pending | -- | -- | -- | |
| 11/14/2025 11/14/25 | For Sale | $80,000 | +77.8% | $121 / Sq Ft | |
| 06/07/2019 06/07/19 | Sold | $45,000 | -6.3% | $68 / Sq Ft | View Prior Sale |
| 04/20/2019 04/20/19 | Pending | -- | -- | -- | |
| 04/19/2019 04/19/19 | For Sale | $48,000 | -- | $73 / 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 | $1,064 | $57,450 | $6,300 | $51,150 |
| 2024 | $1,064 | $49,070 | $6,300 | $42,770 |
| 2023 | $928 | $49,070 | $6,300 | $42,770 |
| 2022 | $904 | $42,240 | $6,300 | $35,940 |
| 2021 | $926 | $42,240 | $6,300 | $35,940 |
| 2020 | $714 | $40,860 | $4,920 | $35,940 |
| 2019 | $714 | $40,860 | $4,920 | $35,940 |
| 2018 | $716 | $40,860 | $4,920 | $35,940 |
| 2017 | $742 | $40,860 | $4,920 | $35,940 |
| 2016 | $730 | $40,860 | $4,920 | $35,940 |
| 2015 | $730 | $40,860 | $4,920 | $35,940 |
| 2014 | $674 | $37,870 | $4,920 | $32,950 |
Source: Public Records
Agents Affiliated with this Home
-
Gordon Sorensen
-
Gerald Sorensen
Seller Co-Listing Agent in 2026
Gerald Sorensen
RE/MAX
(319) 269-1168
5 in this area
181 Total Sales
-
Lynette Sorensen
Buyer's Agent in 2026
Lynette Sorensen
RE/MAX
(319) 504-2789
1 in this area
44 Total Sales
Map
Source: Northeast Iowa Regional Board of REALTORS®
MLS Number: NBR20255996
APN: 8912-30-327-006
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Based on information submitted to the MLS GRID
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