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Welcome home to this beautiful Ranch home nestled on a little over an acre, offering breathtaking views of the water and surrounding wooded area! This property combines spacious living, comfort, and a peaceful setting that is hard to find. Step inside to an inviting, open floor plan featuring an updated kitchen, dining area with office space, and a spacious living room with fireplace and sliding doors leading to the backyard. Enjoy the beautiful views from the spacious den and additional sitting area, where you can relax and take in the scenery. The main floor also offers a massive primary suite complete with a walk-in closet, private bathroom, and convenient laundry area. Three additional good-sized bedrooms and a full bathroom provide plenty of room for family and guests. The lower level offers even more living space with a large family room featuring a fireplace and bar area, a 3/4 bathroom, and tons of storage. Step outside and enjoy everything this property has to offer, including an in-ground swimming pool, deck, fenced yard, storage shed, and attached double garage. With over an acre of space and beautiful views of the water and trees, this is the perfect place to relax, entertain, and enjoy the outdoors. New roof in 2026! This one-of-a-kind property offers space, privacy, and so much to love. Call today for your private showing!

Highlights

  • Residential
  • Single Family Residence
  • Built in 1954
  • 1.01 Acre Lot
  • Newly Listed

  • Bedrooms
    4
  • Bathrooms
    2
  • Year Built
    1954
  • Stories
    1.0
  • Construction Materials
    Aluminum Siding
  • Parking Features
    Attached, Oversized, Garage Door Opener
  • Living Area
    3015.0
  • Appliances
    Dryer, Dishwasher, Microwave, Refrigerator, Washer, Cooktop, Gas Water Heater
  • Flooring
    Hardwood
  • Patio And Porch
    Patio, Deck
  • Pool Features
    In Ground
  • Cooling
    Central Air
  • Heating
    Forced Air, Natural Gas
  • Basement
    Partially Finished, Sump Pump, Block

  • Acres
    1.01
  • Lot Features
    Landscaped
  • View
    Valley, Water
  • Water
    Public

  • County
    Black Hawk
  • City
    Waterloo
  • Neighborhood
    PLEASANT VALLEY CASTLE HILL
  • Zip Code
    50701
  • High School
    East High
  • Middle School
    Central Intermediate
  • Elementary School
    Fred Becker Elementary

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Frequently Asked Questions

How do I schedule a tour of 1328 Rainbow Dr?

We can make that happen quickly. Click Tour This Home and we'll connect you directly with our vetted local partner to schedule your visit to 1328 Rainbow Dr.

They know residentials in the area well and can give you the guidance you need to buy with confidence.

How do I get more information about 1328 Rainbow Dr?

Click Ask a Question to talk with our team. You already know it is a 4 bed, 2 bath, listed for $319,900. We can talk through recent upgrades, potential seller motivation, how this single family residence compares to others in Waterloo, and can even get you in to see the property quickly.

How much is the monthly mortgage payment for 1328 Rainbow Dr?

With a 20% down payment and a 30-year fixed loan at an illustrative 7.25% rate, the ez Mortgage Calculator estimates the monthly payment for 1328 Rainbow Dr at around $2,346. This includes estimated property taxes and insurance.

Want to see how this changes with different down payments or interest rates? Jump to the calculator to run the numbers and fine-tune your plan.

How do I get pre-approved to buy 1328 Rainbow Dr?

Stand out in a competitive market by getting pre-approved today. Our quick and private pre-approval process helps you understand your true buying power—no credit pull required to explore all of your options.

Or, let us connect you with our preferred local lender in Black Hawk County. They will give you all of your available financing options, based on your specific situation and what is available to you.

Can I negotiate the asking price for 1328 Rainbow Dr?

In most cases, yes. Whether 1328 Rainbow Dr is priced competitively or not, your best offer depends on your personal situation, the seller's timeline, and recent activity in Waterloo's market. Our preferred local partner will help you craft a strategy—factoring in comparable properties that have sold, timing, and deal structure—to make a smart, strong offer. Click here to ask about negotiation opportunities.

How do I make an offer on 1328 Rainbow Dr?

We can handle that for you. Our preferred local agent specializes in residentials in Waterloo and can guide you through every step of the offer process.

You need an expert who is looking out for your best interests. From market valuation to contingencies and timing, they'll help you present a compelling offer that fits your goals. Click Ask a Question to get started today.

What is the price per square foot for this home?

This home is listed at $319,900 with 3,015 sqft of space—that comes out to approximately $106 per square foot.

How long has this property been on the market?

1328 Rainbow Dr was listed on November 13, 2026, which means it's been on the market for 0 days.

Want to keep tabs on it? Click the ♥ to favorite this home and get notified of price drops or changes.

When was this house built?

This home was built in 1954, making it approximately 72 years old.

What is the lot size of this property?

1328 Rainbow Dr sits on a 1.01-acre lot, which is 43,996 square feet.

What schools are assigned to this property?

Based on MLS info, this home is zoned for:

  • Elementary: Fred Becker Elementary
  • Middle: Central Intermediate
  • High: East High

Want to see how these schools compare? Check out our Black Hawk County School Guide to see ratings, reviews, and more for the schools in the area.

What are the property taxes for 1328 Rainbow Dr?

The most recent public record shows annual property taxes for 1328 Rainbow Dr were approximately $6,308. This may change with reassessment or exemptions. Our local partner can verify current tax amounts and help you estimate future costs based on your situation.

Is 1328 Rainbow Dr still available for sale?

Yes, this home is still available! Click the ♥ to favorite it so you don't miss any changes—or ask our local expert to schedule a time to see it in person.

Source: ez Home Search, MLS Data

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Based on information submitted to the MLS GRID as of November 13, 2026 at 08:23PM All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.