2401 Falls Ave, Waterloo, IA 50701 Property Records

Black Hawk County property record for 2401 Falls Ave, Waterloo, IA 50701

Property Summary

Property Type	Neighborhood Shopping Center, Strip Center
Details	8,250 sqft · built 1955
Lot Size	0.547 acres (23,827 sqft)
Owner	Company Name on Record
Last Sale	$400,000 (Apr 2023)
Tax Bill	$10,522 (2025)
Deeds & Mortgages	Jan 2021 Sale & Mortgage Apr 2023 Sale & Mortgage
Flood Zone	Zone X (minimal risk)
APN	`8913-21-480-002`

Property Details

APN / Parcel Number

Primary APN	`8913-21-480-002`

Interior

Stories	1 Story
Building Area	8,250 sqft Gross Area
1st Floor Area	8,250 sqft
Basement Area	522 sqft
Unfinished Basement	522 sqft
Flooring	Tile
Interior Walls	Glass

Exterior

Year Built	Built 1955
Effective Year Built	Effective 1955
Exterior Material	EIFS / Synthetic Stucco
Construction Type	Concrete Block
Fire Resistance	Fireproof Steel Frame
Roof Material	Urethane Foam
Lot Area	23,827 sqft (0.547 acres)
Lot Dimensions	131 ft deep x 182 ft wide
Patio Area	1 sqft

Utilities, Heating & Cooling

Cooling System	HVAC
Heating System	Forced Air with A/C

Location & Zoning

Street Address	2401 FALLS AVE
City	WATERLOO
State	IA
Zip	50701-5717
Property Category	Commercial
Property Type	Commercial > Retail > Neighborhood Shopping Center, Strip Center
Legal Description	DOWNING PLACE LOT 1 BLK 1 LOT 2 BLK 1 LOT 3 BLK 1 LOT 4 BLK 1
Legal Range	13W
Legal Township	89N
Legal Section	21
Legal Subdivision	DOWNING PLACE
Legal Block	1
Legal Lot Number	1-4
Jurisdiction	BLACK HAWK IA
Township / Civil Division	WATERLOO
Census Block Group	1
Census Block	1015
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	Company Name on Record
Mailing Address	2401 FALLS AVE, WATERLOO, IA 50701-5717
Owner Type	Company
Vesting	Company

Deeds, Mortgages & Sale History

Date	Document
Jan 7, 2021	Land Contract, Transfer · Land Contract NOT AVAILABLE
Apr 3, 2023	Warranty Deed, Transfer · Commercial Mortgage FARMERS STATE BANK

Assessor's Deed Record

Deed Names	Name on Deed
Last Sale	Apr 3, 2023 · Amount on Record
Deed Sale	Apr 3, 2023 · Amount on Record
Prior Sale	Jan 7, 2021 · Amount on Record
Deed Document Number	202313252
Record Updated	Oct 29, 2026

January 2021: Land Contract, Transfer

Document Type	Land Contract
Jurisdiction	BLACK HAWK IA
Recording Date	Jan 7, 2021
Property Address	2401 FALLS AVE, WATERLOO, IA 50701-5717
Document Number	202100014215
Instrument Date	Dec 31, 2020
Instrument	202100014215
Transaction Type	Transfer
Record Updated	Feb 10, 2022

Transaction

Amount	Amount Recorded
Downpayment	Downpayment on Record
Loan-to-Value (LTV)	LTV on Record
Tax	$0.00
Amount Accuracy	Full Amount Stated
Additional	Arm's Length

Transferred From (Grantor/Seller)

Name	Verified Name

Transferred To (Grantee/Buyer)

Name	Verified Name
Address	2401 FALLS AVE, WATERLOO, IA 50701-5717

Mortgage

Date	Jan 7, 2021

Lender

Name	NOT AVAILABLE

Agreement

Type	Land Contract
Amount	Amount Recorded
Term	150 Months
Due	Jul 1, 2033

Interest

Rate	5%

April 2023: Warranty Deed, Transfer

Document Type	Warranty Deed
Jurisdiction	BLACK HAWK IA
Recording Date	Apr 3, 2023
Property Address	2401 FALLS AVE, WATERLOO, IA 50701-5717
Document Number	202300013252
Instrument Date	Dec 31, 2020
Instrument	202300013252
Transaction Type	Transfer
Record Updated	Apr 19, 2023

Transaction

Amount	Amount Recorded
Loan-to-Value (LTV)	LTV on Record
Tax	$639.20
Amount Accuracy	Rounded by County
Additional	Arm's Length

Transferred From (Grantor/Seller)

Name	Verified Name

Transferred To (Grantee/Buyer)

Name	Verified Name
Address	2401 FALLS AVE, WATERLOO, IA 50701-5717

Mortgage

Document Number	202300013262
Date	Apr 3, 2023
Instrument	202300013262

Lender

Name	FARMERS STATE BANK
Type	Bank

Agreement

Type	Commercial Mortgage
Amount	Amount Recorded
Term	360 Months
Due	Mar 31, 2053

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	$10,522.00 (-1.66%)	$330,870 (-) Land $109,400 Building $221,470	$330,870 (-) Land $109,400 Building $221,470
2024	$10,700.00 (+21.56%)
2023		$330,870 (+9.45%) Land $109,400 Building $221,470	$330,870 (+9.45%) Land $109,400 Building $221,470
2022	$8,802.00	$302,300 Land $68,380 Building $233,920
2021			$302,300 Land $68,380 Building $233,920

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

FEMA Flood Zone	Zone X minimal risk
Flood Insurance Requirement	Not required lenders may require it

Values are read at the parcel center point; 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	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 625 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
AT&T Fixed Wireless	100 / 20
T-Mobile Fixed Wireless	100 / 20

May also be available: GigFire, Nextlink.

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