Discover a lucrative investment opportunity with this 32-unit property in Waterloo. Ideal for investors seeking a stable income stream, this well-maintained complex offers spacious two-bedroom, one-bathroom units with full basements. 32 Rental Units: Solid history of 95%+ occupancy Two-Bedroom, One-Bathroom Units: Comfortable and practical layouts. Full Basements: Additional storage space for tenants. Tenant Responsibilities: Electric, water, gas, and sewer bills, ensuring efficient cost management. Landlord Responsibilities: Trash, lawn care, and snow removal, providing added convenience for tenants. This prime location offers easy access to local amenities, schools, hospitals, and transportation. Don't miss out on this exceptional investment opportunity. Contact us today to schedule a viewing!
For sale
$1,650,000
211 Madison St, Waterloo, IA 50703
--beds
--baths
1,224sqft
Est.:
Apartment
Built in 1950
-- sqft lot
$-- Zestimate®
$1,348/sqft
$-- HOA
What's special
Full basementsComfortable and practical layoutsSpacious two-bedroom
- 548 days |
- 248 |
- 8 |
Zillow last checked: 7 hours ago
Listing updated: March 25, 2026 at 04:01am
Listed by:
Tyler Rasmussen 319-560-3543,
EPM, Iowa
Source: Northeast Iowa Regional BOR as distributed by MLS GRID,MLS#: 20244370
Tour with a local agent
Facts & features
Interior
Heating
- Forced Air
Cooling
- Ceiling Fan(s)
Appliances
- Laundry: Lower Level
Features
- Basement: Block,Exterior Entry
Interior area
- Total structure area: 1,224
- Total interior livable area: 1,224 sqft
- Finished area above ground: 408
- Finished area below ground: 408
Property
Parking
- Total spaces: 32
- Parking features: Parking Space, None
- Uncovered spaces: 32
Features
- Levels: Two
Lot
- Size: 1.53 Acres
- Dimensions: 145 x 460
- Features: Corner Lot
Details
- Parcel number: 891230126012
- Zoning: R-3
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Apartment
Materials
- Synthetic Stucco
- Roof: Rubber
Condition
- Year built: 1950
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Elec Individual Meters, Gas Individual Meters, Water - Multiple Meters
Community & HOA
Location
- Region: Waterloo
Financial & listing details
- Price per square foot: $1,348/sqft
- Tax assessed value: $1,608,490
- Annual tax amount: $32,163
- Date on market: 9/30/2024
- Cumulative days on market: 549 days
- Lease term: Over 9 Months
- Tenant pays: Electricity, Gas, Heat, Water
- Road surface type: Hard Surface Road
Estimated market value
Not available
Estimated sales range
Not available
$699/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 8/19/2025 | Listed for sale | $1,650,000$1,348/sqft |
Source:  Northeast Iowa Regional BOR as distributed by MLS GRID #20244370 Report a problem | ||
| 6/11/2025 | Pending sale | $1,650,000$1,348/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20244370 Report a problem | ||
| 3/10/2025 | Price change | $1,650,000-2.4%$1,348/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20244370 Report a problem | ||
| 12/18/2024 | Price change | $1,690,000-3.4%$1,381/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20244370 Report a problem | ||
| 11/11/2024 | Price change | $1,750,000-4.4%$1,430/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20244370 Report a problem | ||
| 9/30/2024 | Listed for sale | $1,830,000+277.3%$1,495/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20244370 Report a problem | ||
| 10/3/2006 | Sold | $485,000$396/sqft |
Source: Public Record Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,094 +8.5% | $50,400 -0.1% |
| 2024 | $1,008 +14.8% | $50,430 |
| 2023 | $878 +2.7% | $50,430 +26.1% |
| 2022 | $855 -5.6% | $39,980 |
| 2021 | $906 +1.6% | $39,980 |
| 2020 | $891 +91.6% | $39,980 |
| 2019 | $465 +0.8% | $39,980 +93.3% |
| 2018 | $461 -0.2% | $20,680 |
| 2017 | $462 -1.7% | $20,680 |
| 2016 | $470 | $20,680 |
| 2015 | $470 +0.9% | $20,680 |
| 2014 | $466 +6.8% | $20,680 |
| 2012 | $436 +9.4% | $20,680 |
| 2011 | $399 +3.3% | $20,680 +7.4% |
| 2010 | $386 +2.8% | $19,250 |
| 2009 | $376 +2.2% | $19,250 |
| 2008 | $368 | $19,250 +7% |
| 2007 | -- | $17,990 |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$10,420/mo
Principal & interest
$8509
Property taxes
$1911
More affordability tools
Climate risks
Neighborhood: 50703
Nearby schools
GreatSchools rating
- 4/10Highland Elementary SchoolGrades: PK-5Distance: 0.3 mi
- 2/10George Washington Carver AcademyGrades: 6-8Distance: 2.2 mi
- 2/10East High SchoolGrades: 9-12Distance: 0.9 mi
Schools provided by the listing agent
- Elementary: Highland Elementary
- Middle: George Washington Carver Academy
- High: West High
Source: Northeast Iowa Regional BOR as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
Local experts in 50703
- Iowa
- Black Hawk County
- Waterloo
- 50703
- 211 Madison St
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