1207 Rainbow Dr, Waterloo, IA 50701 Property Records

Black Hawk County property record for 1207 Rainbow Dr, Waterloo, IA 50701

Property Summary

Property Type	Single Family Home
Details	3 bd · 1 ba · 1,036 sqft · built 1954
Lot Size	0.383 acres (16,700 sqft)
Owner	2 Individual Names on File
Last Sale	$133,000 (Mar 2020)
Tax Bill	$3,270 (2025)
Deeds & Mortgages	Aug 2026 Line of Credit Mar 2020 Sale & Mortgage
Flood Zone	Zone X (minimal risk)
APN	`8913-21-129-004`

Property Details

APN / Parcel Number

Primary APN	`8913-21-129-004`

Interior

Bedrooms	3 Beds
Full Baths	1 Bath
Total Rooms	5 Rooms
Stories	1 Story
Building Area	1,036 sqft Living Area
1st Floor Area	1,036 sqft
Basement Area	1,036 sqft
Unfinished Basement	1,036 sqft
Game Room	Game Room
Flooring	Carpet
Interior Walls	Plaster

Exterior

Year Built	Built 1954
Effective Year Built	Effective 1954
Exterior Material	Vinyl
Construction Type	Frame
Roof Type	Hip
Roof Material	Asphalt
Lot Area	16,700 sqft (0.383 acres)
Lot Dimensions	200 ft deep x 80 ft wide
Garage Type	Detached
Garage Area	576 sqft
Parking Spaces	2 Parking Spaces
Deck Area	216 sqft
Patio Area	216 sqft

Utilities, Heating & Cooling

Cooling System	Central
Heating System	HVAC

Location & Zoning

Street Address	1207 RAINBOW DR
City	WATERLOO
State	IA
Zip	50701-1140
Property Category	Residential
Property Type	Residential > Single Family > Home
Legal Description	PLEASANT VALLEY CASTLE HILL LOT 25
Legal Range	13W
Legal Township	89N
Legal Section	21
Legal Subdivision	PLEASANT VALLEY CASTLE HILL
Legal Lot Number	25
Jurisdiction	BLACK HAWK IA
Township / Civil Division	WATERLOO
Census Block Group	3
Census Block	3010
Census Tract	1503

Owner

Source: Black Hawk County records, as of September 2, 2026

Owner names and exact recorded amounts are on file and can be viewed instantly on this page with a free 10-day trial.

Owner of Record	2 Individual Names on File
Mailing Address	1207 RAINBOW DR, WATERLOO, IA 50701-1140
Occupancy	Owner Occupied
Owner Type	Individual

Deeds, Mortgages & Sale History

Date	Document
Aug 28, 2026	Deed of Trust, Mortgage · Line of Credit UNION CREDIT UNION
Mar 30, 2020	Warranty Deed, Transfer · Conventional Mortgage LINCOLN SAVINGS BANK

Assessor's Deed Record

Deed Names	2 Names on Deed
Last Sale	Mar 30, 2020 · Amount on File
Deed Sale	Mar 30, 2020 · Amount on File
Prior Sale	Aug 13, 2008 · Amount on File
Deed Document Number	202016791
Record Updated	Oct 29, 2026

August 2026: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	BLACK HAWK IA
Recording Date	Aug 28, 2026
Property Address	1207 RAINBOW DR, WATERLOO, IA 50701-1140
Document Number	0000013058
Instrument Date	Aug 24, 2026
Instrument	202613058
Transaction Type	Mortgage
Record Updated	Sep 9, 2026
Title Company	NONE LISTED ON DOCUMENT

Transferred To (Grantee/Buyer)

Name	Verified Name
Address	1207 RAINBOW DR, WATERLOO, IA 50701-1140

Mortgage

Document Number	0000013058,
Date	Aug 28, 2026
Instrument	202613058

Lender

Name	UNION CREDIT UNION

Agreement

Type	Line of Credit
Amount	Amount on Record

Interest

Rate Type	Adjustable Rate
Initial Type	Adjustable Rate
Adjustable	Adjustable Rate Rider
Max Rate	-1%

March 2020: Warranty Deed, Transfer

Document Type	Warranty Deed
Jurisdiction	BLACK HAWK IA
Recording Date	Mar 30, 2020
Property Address	1207 RAINBOW DR, WATERLOO, IA 50701-1140
Document Number	202000016791
Instrument Date	Mar 16, 2020
Instrument	202000016791
Transaction Type	Transfer
Record Updated	Feb 10, 2022

Transaction

Amount	Amount on Record
Tax	$212.00
Amount Accuracy	Full Amount Stated
Additional	Lis Pendens Arm's Length

Transferred From (Grantor/Seller)

Name	Verified Name

Transferred To (Grantee/Buyer)

Name	Verified Name
Relationship	Joint Tenants with Right of Survivorship
Address	1207 RAINBOW DR, WATERLOO, IA 50701-1140

Mortgage

Document Number	202000016792
Date	Mar 30, 2020
Instrument	202000016792

Lender

Name	LINCOLN SAVINGS BANK
Type	Bank

Agreement

Type	Conventional Mortgage
Amount	Amount on Record
Term	361 Months
Due	Apr 1, 2050

Mortgage

Document Number	202000016793
Date	Mar 30, 2020
Instrument	202000016793

Lender

Name	IOWA FINANCE AUTHORITY
Type	Government Agency
Address	DES MOINES, IA 50315

Agreement

Type	Stand-Alone Second Mortgage
Amount	Amount on Record
Term	361 Months
Due	Apr 1, 2050

Tax Assessment & Valuation

Source: Black Hawk County assessment roll, as of October 17, 2025

Property Jurisdictions

Type	Name
State	Iowa
County	Black Hawk County
Municipality	Waterloo City
Unified School District	Waterloo Community School District (PK - 12)

Tax Bill & Assessment History

Year	Tax Bill	Assessed Value	Assessed Market Value
2025	$3,270.00 (+3.48%) Homeowner's exemption	$171,070 (+9.76%) Land $31,990 Building $139,080	$171,070 (+9.76%) Land $31,990 Building $139,080
2024	$3,160.00 (+15.75%)
2023		$155,860 (+17%) Land $31,990 Building $123,870	$155,860 (+17%) Land $31,990 Building $123,870
2022	$2,730.00 Homeowner's exemption	$133,210 Land $31,990 Building $101,220
2021			$133,210 Land $31,990 Building $101,220

Assessed value and assessed market value are set for property tax purposes and are not market price estimates.

Flood

Source: FEMA National Flood Hazard Layer, effective September 27, 2026 · OpenFEMA NFIP redacted claims and policies, as of September 2026

FEMA Flood Zone	Zone X minimal risk
Nearest Special Flood Hazard Area	Zone AE, within 500 ft
Flood Insurance Requirement	Not required lenders may require it
Nearby Flood Claims	1 (2013)
Claims Outside the SFHA	1 of 1
Most Recent Claim	May 2013 · tidal / storm surge

Values are read at the parcel center point; flood claims are located to the census block group, not this parcel; lenders make the official flood determination.

Wildfire

Source: USDA Forest Service Wildfire Risk to Communities (2nd edition), as of 2024

Wildfire Risk	Low lower than 99.1% of the US · lower than 91% of Iowa
Wildfire Likelihood	Under 0.01% annual chance
Exposure	Direct burnable vegetation

Values cover an area roughly 900 ft across, not the parcel itself; insurers use their own ratings.

Drinking Water

Source: EPA Safe Drinking Water Information System, as of September 2026

Water System	WATERLOO WATER WORKS serves 69,504 people · EPA ID IA0790074
Water Source	Groundwater
Last State Inspection	Nov 2023
Lead	2 ppb (2025) action level 15 ppb

Violations Reported to EPA

Water Quality	None last 10 years
Treatment and Procedure	None last 10 years
Monitoring and Reporting	None last 3 years

Results are for the whole water system, not water tested at this address; lead at the tap also depends on the building's own pipes. The service area is an EPA estimate; the actual supplier may differ.

Internet Providers

Source: FCC Broadband Data Collection, based on 342 locations within half a mile, as of December 31, 2025

Provider	Max Down / Up (Mbps)
Metronet Fiber	5,120 / 5,120
Mediacom Xtream Cable	1,000 / 50
Verizon Fixed Wireless	300 / 20
CenturyLink DSL	140 / 20
T-Mobile Fixed Wireless	100 / 20

May also be available: GigFire, Nextlink.

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