2048 Rainbow Dr, Waterloo, IA 50701 Property Records

Black Hawk County property record for 2048 Rainbow Dr, Waterloo, IA 50701

Property Summary

Property Type	Duplex
Details	4 bd · 2.5 ba · 1,584 sqft · built 1977
Lot Size	0.265 acres (11,550 sqft)
Owner	Individual Name on Record
Last Sale	$152,500 (Dec 2014)
Tax Bill	$4,042 (2025)
Deeds & Mortgages	May 2017 Mortgage Jul 2020 Mortgage + 1 more
Flood Zone	Zone X (minimal risk)
APN	`8913-17-404-013`

Property Details

APN / Parcel Number

Primary APN	`8913-17-404-013`

Interior

Bedrooms	4 Beds
Full Baths	2.5 Baths
Half Baths	1 Half Bath
Total Rooms	8 Rooms
Building Area	1,584 sqft Total Area
1st Floor Area	1,584 sqft
Basement Area	1,584 sqft
Finished Basement	250 sqft
Flooring	Carpet
Interior Walls	Wallboard/Drywall

Exterior

Year Built	Built 1977
Effective Year Built	Effective 1977
Architectural Style	Duplex Single
Exterior Material	Vinyl
Construction Type	Frame
Roof Type	Gable
Roof Material	Asphalt
Lot Area	11,550 sqft (0.265 acres)
Lot Dimensions	165 ft deep x 70 ft wide
Patio Area	25 sqft

Utilities, Heating & Cooling

Cooling System	Central
Heating System	HVAC

Location & Zoning

Street Address	2048 RAINBOW DR
City	WATERLOO
State	IA
Zip	50701-1043
Property Category	Residential
Property Type	Residential > Multi-Unit > Duplex
Legal Description	STOUTS ADDITION IN CASTLE HILL LOT 8 EXC N 142 FT
Legal Range	13W
Legal Township	89N
Legal Section	17
Legal Subdivision	STOUTS ADDITION
Legal Lot Number	8
Jurisdiction	BLACK HAWK IA
Township / Civil Division	WATERLOO
Census Block Group	2
Census Block	2009
Census Tract	1503

Owner

Source: Black Hawk County records, as of September 1, 2026

Owner names and exact recorded amounts shown locked on this page are available instantly with a free trial.

Owner of Record	Individual Name on Record
Mailing Address	1109 BARNETT DR, CEDAR FALLS, IA 50613-6626
Owner Type	Individual

Deeds, Mortgages & Sale History

Date	Document
May 8, 2017	Deed of Trust, Mortgage · ARM UNIVERSITY OF IOWA COMMUNITY CU
Jul 6, 2020	Deed of Trust, Mortgage FIRST NATIONAL BANK
Jan 24, 2020	Deed of Trust, Mortgage · Stand-Alone Refinance FIRST NATIONAL BANK

Assessor's Deed Record

Deed Names	Name on Deed
Last Sale	Dec 31, 2014 · Amount on Record
Deed Sale	Dec 31, 2014 · Amount on Record
Deed Document Number	2014201500010615
Record Updated	Oct 29, 2026

May 2017: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	BLACK HAWK IA
Property Address	2048 RAINBOW DR, WATERLOO, IA 50701-1043
Transaction Type	Mortgage
Record Updated	Feb 11, 2021

Transferred To (Grantee/Buyer)

Name	Verified Name

Mortgage

Document Number	201700019409
Date	May 8, 2017
Instrument	2017-00019409

Lender

Name	UNIVERSITY OF IOWA COMMUNITY CU
Type	Credit Union
Address	NORTH LIBERTY, IA 52317

Agreement

Type	ARM
Amount	Amount Recorded
Term	360 Months
Due	May 5, 2047

Interest

Rate Type	Adjustable Rate
Rate	4.12%
Adjustable	Adjustable Rate Rider
Type Change Date	May 1, 2027
Change Frequency	Annually
Min Rate At Change	5%
Max Rate At Change	6.12%
Index	1-Year LIBOR
Max Rate	10.1%

July 2020: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	BLACK HAWK IA
Property Address	2048 RAINBOW DR, WATERLOO, IA 50701-1043
Transaction Type	Mortgage
Record Updated	Feb 11, 2021

Transferred To (Grantee/Buyer)

Name	Verified Name

Mortgage

Document Number	202100000237
Date	Jul 6, 2020
Instrument	202100000237

Lender

Name	FIRST NATIONAL BANK
Type	Bank
Address	CEDAR FALLS, IA 50613

Agreement

Amount	Amount Recorded
Term	360 Months
Due	Jul 1, 2050

Interest

Rate Type	Adjustable Rate

January 2020: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	BLACK HAWK IA
Property Address	2048 RAINBOW DR, WATERLOO, IA 50701-1043
Transaction Type	Mortgage
Record Updated	Feb 11, 2021

Transferred To (Grantee/Buyer)

Name	Verified Name

Mortgage

Document Number	202000013122
Date	Jan 24, 2020
Instrument	202000013122

Lender

Name	FIRST NATIONAL BANK
Type	Bank

Agreement

Type	Stand-Alone Refinance
Amount	Amount Recorded
Term	361 Months
Due	Feb 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	Cedar Falls Community School District (PK - 12)

Tax Bill & Assessment History

Year	Tax Bill	Assessed Value	Assessed Market Value
2025	$4,042.00 (+2.23%)	$210,140 (+9.69%) Land $27,560 Building $182,580	$210,140 (+9.69%) Land $27,560 Building $182,580
2024	$3,954.00 (+13.69%)
2023		$191,570 (+26.78%) Land $27,560 Building $164,010	$191,570 (+26.78%) Land $27,560 Building $164,010
2022	$3,478.00	$151,110 Land $27,560 Building $123,550
2021			$151,110 Land $27,560 Building $123,550

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
Flood Insurance Requirement	Not required lenders may require it
Nearby Flood Policies	2 in force
Nearby Flood Claims	58 (1978–2016)
Most Recent Claim	Sep 2016 · Severe Storms And Flooding
Claims by Event	Severe Storms And Flooding, Sep 2016 · 5 claims Severe Storms, Tornadoes, And Flooding, Jun 2008 · 11 claims Severe Storms & Flooding, Aug 1993 · 12 claims

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 96% of the US · lower than 71% of Iowa
Wildfire Likelihood	0.01% annual chance
Exposure	None beyond ember reach

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 200 locations within half a mile, as of December 31, 2025

Provider	Max Down / Up (Mbps)
Metronet Fiber	5,120 / 5,120
Mediacom Xtream Cable · Fiber in parts of the area	1,000 / 50
Verizon Fixed Wireless	300 / 20
T-Mobile Fixed Wireless	100 / 20

May also be available: CenturyLink, GigFire, Nextlink.

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