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!
Neighbors for Life, located between Downtown Waterloo and the Cedar River corridor, is a residential and community-focused Waterloo neighborhood with modest mid-century homes and pocket parks. The neighborhood’s character concentrates around the Sullivan Brothers Iowa Veterans Museum campus, where museum-goers, riverfront paths, and civic buildings set a steady daytime rhythm. Nearby, the Waterloo Center for the Arts and the Gallagher Bluedorn Performing Arts Center act as cultural pillars with rotating exhibitions and touring performances. Streets read as practical and lived-in, with mature trees and small front yards shaping the block-by-block feel. Trails and green space along the river add a natural edge to the urban grid.
Provided by Walk Score and Local Logic
Market insights
211 Madison St · $1,650,000
DAYS ON MARKET
429 days
The average home goes pending in 7 days.
SALE-TO-LIST
99.4%
Most homes are selling 1% below list price.
LIST PRICE
$1,650,000
Median list price in this area is $216,877. (87% lower than this home)
PRICE DROP
3 price drops
24% of homes in this area have had a price drop in the past month.
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Living
Interior features
Ceiling fans
Basement with exterior entry and block construction
Laundry & utility
Laundry on lower level
Heating & cooling
Forced air heating (natural gas)
Has cooling
Exterior features
Corner lot
Property sits on a 145 x 460 parcel (approximately 1.53 acres)
Home design
Residential income property (apartment)
Two levels
Parking
32 open parking spaces
Construction
Stucco exterior
Rubber roof
Utilities
Public water
Public sewer
Electricity and solar
View estimated energy costs and solar savings for this home
The R-2 District is intended to provide for areas of the community which are suitable for low density residential uses that are adjacent to residential, professional office or neighborhood commercial uses. Any outside storage of materials or equipment shall be limited and clearly incidental and accessory to the Principal Permitted Use, and shall not include the outside storage of junk or salvage material or similar debris. Outside storage of materials or equipment shall not be permitted in a front yard. This provision shall not restrict the outside storage of licensed and operable vehicles that are accessory and clearly incidental to the Principal Permitted Use.
Permitted uses
Include but are not limited to:
Community / recreation center
Housing-Single unit
Housing-Multiple units
Infrastructure
Public service
Educational/school
Recreation
Golf related
Cemetery
Park & open space
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 101° expected this year, 16 days in 30 years
2/10 Wind Factor
Minor risk of severe winds over next 30 years
1/10 Air Factor
0 unhealthy days expected this year, 0 days in 30 years
Provided by First Street
Historical weather
Waterloo, IA • 50703
Average low and high temperatures (°F)
27
10
34
16
55
32
62
41
73
50
82
62
84
67
80
62
79
56
69
46
48
32
33
17
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
92/ 100
Exceptional sunlight
Sunscore
This home receives average direct sun exposure in Waterloo. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.6 hrs
6.2 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 211 Madison St
$1,476,774
$173K under list price of $1.65M
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $118K to $370K.