For sale

$1,650,000

Est. $13,226/mo —

—

•

— ba

•

8,714

sq ft

611-619 Johnson Ave, Waterloo, IA 50702

About this home

This is the kind of asset every investor is looking for—24 fully occupied, low-maintenance units in a prime Waterloo location. Located at 611 & 619 Johnson Avenue, this multifamily package features two 12-unit buildings, each comprised entirely of 2 bed / 1 bath units with in-unit laundry—a key amenity that drives tenant demand and reduces turnover. Each unit is individually metered, with tenants paying electric, gas, water, and sewer. Landlord responsibility is limited to trash, lawn care, and snow removal, making this an exceptionally easy property to manage. The property also includes on-site garages, providing additional value and rental upside. These buildings are clean, simple, and operate efficiently. With strong rental history, desirable unit layouts, and minimal owner involvement, this is a high-yield, low-effort investment opportunity that would be a solid addition to any portfolio.

CondoProperty Type

2003Year Built

1.01 acresLot Size

$189Price/Sq.Ft.

24 garage spacesParking

Listed by Tyler Rasmussen • EPM, Iowa

Listing updated: Sep 18, 2026 at 04:00pm

Redfin checked: 3 minutes ago

•Source:NEIRBR as distributed by MLS GRID #20254153

Payment calculator

$13,226 per month

Principal and interest$9,230

Property taxes

$3,377

HOA dues

Home insurance

$619

Utilities

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Around this home

Schools

K - 12
Preschool & daycare

Irving Elementary School

Public K-5 • Assigned • 0.3mi

5/10

Central Middle School

Public 6-8 • Assigned • 2.9mi

2/10

West High School

Public 9-12 • Assigned • 1.1mi

3/10

Provided by GreatSchools

About Neighbors Helping

Neighbors

Neighbors Helping Neighbors, located between Downtown Waterloo and the Cedar River corridor, is a residential and community-minded Waterloo neighborhood with tree-lined blocks and a patchwork of small parks. The neighborhood’s character concentrates around the Sullivan Brothers Iowa Veterans Museum campus area, where museum-going foot traffic meets civic buildings and a steady downtown rhythm. Housing reads as practical Midwestern stock—compact bungalows, modest two-stories, and tidy yards that frame front-porch streetscapes. The Cedar Valley SportsPlex adds an athletic pulse, while nearby riverfront paths shape daily routines. Cultural anchors such as the Waterloo Center for the Arts and the Grout Museum District keep the calendar arts-forward. Coffee stops and local plates at SingleSpeed Brewing Co. and Morg’s Diner round out the day-to-night loop.

Provided by Walk Score and Local Logic

Market insights

611-619 Johnson Ave · $1,650,000

DAYS ON MARKET

The average home goes pending in 7 days.

SALE-TO-LIST

Most homes are selling 1% below list price.

LIST PRICE

Median list price in this area is $223,580. (86% lower than this home)

PRICE DROP

25% of homes in this area have had a price drop in the past month.

Property details

Interior
Exterior
Finance

Interior features
Laundry located in the kitchen

Laundry & utility
In-kitchen laundry

Heating & cooling
Central air conditioning
Forced air heating (natural gas)

Sale and tax history for 611-619 Johnson Ave

Sale History
Tax History

Public record

Public record
Zoning

Beds

—

Baths

—

Stories

Lot width

—

Lot depth

—

Lot size

1.01 Acres

Year renovated

—

Finished Sq. Ft.

—

Unfinished Sq. Ft.

—

Total Sq. Ft.

13,071

Year built

2003

Style

Other

County

Black Hawk County

APN

891326458008

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Aug 12, 2026.

R-4

Multiple Residence District

The R-4 District is intended to provide for areas of the community which are suitable for low, medium and high density residential uses and professional offices 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
Day care facility
Hospital / medical center
Housing-Group
Housing-Single unit
Housing-Multiple units
Housing-Senior
Housing-Student
Office
Medical office

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 • 50702

Average low and high temperatures (°F)

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Sun exposure

Try the sun simulator tool to see how light moves across the property at different times of day and year.

Provided by Shadowmap

Redfin Estimate for 611-619 Johnson Ave

$1,531,669

$118K under list price of $1.65M

Nearby comparable homes

The Redfin Estimate uses 6 recent nearby sales, priced between $130K to $324K.

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4 beds3 baths2,637 sq ft
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SOLD JUN 30, 2026
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93 years older
basement
SOLD NOV 3, 2025
$218,000 Last sold price
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905 West 11th St, Waterloo, IA 50702
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smaller lot
68 years older
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SOLD SEP 17, 2026
$209,000 Last sold price
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$82/sq ft
smaller lot
55 years older

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Details provided by NEIRBR as distributed by MLS GRID and may not match the public record. Learn more.

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