1721 & 1723 Falls Ave, Waterloo, IA, 50701
About This Home
Fully Leased, monthly rents of $1950/month! Don’t miss this well-maintained side-by-side duplex located in a convenient west Waterloo neighborhood near University Avenue. Each unit offers approximately 900 square feet of comfortable living space, featuring 2 bedrooms and 1 bathroom—ideal for tenants or owner occupancy. Both units include spacious layouts with large bedrooms, great kitchens, and full basements—perfect for storage or additional usable space. Tenants will appreciate the convenience of washer/dryer hookups, central air, and off-street parking. Recent updates include new roof, new siding, gutters, newer furnace/ AC units, and new water heaters. The property also benefits from separate utilities, helping maximize investment potential. Situated close to shopping, dining, schools, and local attractions, this duplex offers strong rental appeal in a steady market. Whether you’re looking to expand your investment portfolio or live in one unit while renting the other, this property is a smart and versatile opportunity.
Getting Around
Car-Dependent
Some Transit
BikeableSchools
Construction
Condition
- Year built: 1913
Materials
- Roof: Asphalt
- Construction materials: Shingle Siding,Vinyl Siding
Type & Style
- Home type: MultiFamily
- Property subType: Duplex
Interior
Appliances
- Laundry features: Gas Dryer Hookup,Lower Level,Washer Hookup
Basement
- Has basement: Yes
- Basement: Block,Concrete,Floor Drain
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 2
Features
- Finished area below ground: 0
- Finished area above ground: 896
Heating & Cooling
- Heating features: Forced Air,Natural Gas
- Cooling features: Ceiling Fan(s),Central Air
Interior Area
- Total structure area: 1,818
- Total interior livable area: 1,818 sqft
Property
Details
- Parcel number: 891322387021
- Zoning: R-2
- Special condition: Standard
Features
- Levels: Two
- Patio & porch: Patio
Lot
- Lot size: 5,009 sqft
- Lot size dimensions: 40.00 x 125.00
Parking
- Total spaces: 4
- Parking features: Over 1 Space,Parking Pad,Parking Space,Paved,None
- Has uncovered spaces: Yes
- Uncovered spaces: 4
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Winter Weather
- Hail
- Strong Wind
- Tornado
How This Home’s Risks Compare
FEMA Declared Disasters Across Iowa Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $960 | $11,520 |
| Home Insurance * | $170 | $2,040 |
| Property Taxes | $210 | $2,520 |
| Electricity | $135 | $1,627 |
| Total | $1,475 | $17,700 |
Income You'd Need if You Spent...
Iowa FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-08-18 | Price change | $184,900 |
| 2026-06-24 | Price change | $189,900 |
| 2026-06-05 | Price change | $194,500 |
| 2026-04-11 | Pending sale | $186,500 |
| 2026-04-09 | Listed for sale | $186,500 |
| 2021-07-16 | Sold | $148,000 |
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