Zumper
modified
Updated 17 Hours Ago

Highlights

  • Modern appliances
  • In-unit laundry
  • Modern comfort
  • Off street parking
  • Updated kitchen
  • Pet-friendly

Location

301 E 3rd St, Waterloo, IA 50703, USA|Franklin Gateway
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Contact

Management

Caliber Group Property Management Co.

Leasing office

(319) 349-1984 ext. 2

Property Overview

E 3rd St offers modern appliances, an updated kitchen, in-unit laundry, off-street parking, and pet-friendly living with a strong amenity set and a highly convenient location. It also stands out for value per square foot, while the overall rating suggests a few features may not be ideal, though the property remains worth considering.

This summary uses Zumper’s proprietary data. “Zumper Expert Ratings” and “Things you’ll love” are based on our internal analyses of market trends and renter insights.

Zumper Expert Rating

6.8
Good
E 3rd St is worth considering and a notable rental in the neighborhood. Residents prioritizing Location will find this property to be a solid option for their next home. It may not stand out for Price, but it offers a satisfying, above-average quality of life.

Things you’ll love

  • More space

Floor plans

2BR/2.0BA2 bed2 bath1,154 sqft$1,500 /mo1 unit availableStep into modern comfort at 301 E 3rd St, a spacious and updated rental home in the heart of downtown Waterloo! This beautifully maintained property offers a perfect blend of charm, convenience, and value — ideal for families, professionals, or anyone seeking a stylish place to call home. 2 spacious bedrooms / 2 bathrooms Bright, open-concept living space Updated kitchen with modern appliances Brand new flooring In-unit laundry Central heating & cooling Private yard & Garage, Off street parking Pet-friendly (inquire for details)

Let's explore this property.

Policies and fees

Applicants

Applicants

One-time.

Contact Property

REQUIRED FEES

Security Deposit

One-time. Refundable.

Contact Property
Building details

Property details

Units6

About E 3rd St

HomeApartments in WaterlooFranklin Gateway E 3rd St

Step into modern comfort at 301 E 3rd St, a spacious and updated rental home in the heart of downtown Waterloo! This beautifully maintained property offers a perfect blend of charm, convenience, and value — ideal for families, professionals, or anyone seeking a stylish place to call home. 2 spacious bedrooms / 2 bathrooms Bright, open-concept living space Updated kitchen with modern appliances Brand new flooring In-unit laundry Central heating & cooling Private yard & Garage, Off street parking Pet-friendly (inquire for details)


Zumper Expert Rating

Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
6.8
/10
Good
E 3rd St is worth considering and a notable rental in the neighborhood. Residents prioritizing Location will find this property to be a solid option for their next home. It may not stand out for Price, but it offers a satisfying, above-average quality of life.
How we rated E 3rd St
Price·5A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
Monthly rent at E 3rd St is significantly more expensive than other properties in local neighborhoods. Because of the risk associated with the significant cost difference, this building received a 5/10. Some might think the increased cost is justified by the amenities, but it's worth taking a thorough look for yourself and deciding if any premium benefits are worth the extra expense.
Amenities·8A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
With multiple in-demand amenities, E 3rd St is committed to enhancing the renting experience. And while it may have fewer total conveniences and features than similar rentals nearby, it remains a top choice for renters wanting an specific standard of living.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
E 3rd St is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While E 3rd St does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·7A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
E 3rd St provides some information about the features available in the community and its apartments, making it a reliable option for prospective renters. Renters should ask additional questions about amenities and non-negotiable items they are looking for.

Property highlights

We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.

How E 3rd St compares to other nearby properties.

Positives

More space
The 2-bedroom is 294 sqft larger than other listings nearby

Considerations

Priced higher than average
2-bedrooms are $705 more than the median rent in this area
Greater distance from middle schools
The nearest middle school is farther than 1.4 miles away

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Rent trends in Franklin Gateway

Median rents as of Oct 17 2026.
Franklin Gateway
Waterloo
A table of 1-bedroom apartment rental data trends in Waterloo
MonthMedian Rent
November 2024$655
December 2024$656
January 2025$650
February 2025$650
March 2025$652
April 2025$653
May 2025$660
June 2025$652
July 2025$657
August 2025$667
September 2025$678
October 2025$646
November 2025$660
December 2025$643
January 2026$650
February 2026$650
March 2026$650
April 2026$659
May 2026$650
June 2026$650
July 2026$650
August 2026$655
September 2026$675
October 2026$671
A table of 1-bedroom apartment rental data trends in Franklin Gateway
MonthMedian Rent
March 2025$647
April 2025$635
August 2025$700
September 2025$650
October 2025$646
January 2026$625
February 2026$625
March 2026$625
June 2026$675
July 2026$825
August 2026$740
September 2026$647
October 2026$625

Affordability calculator

Can I afford to live at 301 E 3rd St?

Bedrooms

2 bedrooms

Rent-to-income ratio

30%

Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income

$60,000/yr

With your selected rent-to-income ratio, you'd ideally want to make $60,000 annually to afford this 2-bedrooms monthly rent price of $1,500.
For more information on rent affordability, visit our rent calculator.

Schools near E 3rd St

Cunningham School

1224 mobile st

waterloo, IA, 50703

PK, K-5Public
C-

Cedar Falls Virtual Campus

1002 w 1st st

cedar falls, IA, 50613

K-12Public

Bess Streeter Aldrich Elementary School

2526 ashworth dr

cedar falls, IA, 50613

PK, K-6Public
A
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Neighborhood

Franklin Gateway | Waterloo, IA

NEIGHBORHOOD VIBE
Peaceful and quiet
Noise-canceling headphones not required in this mostly noise free area.

Getting around Waterloo near 301 E 3rd St

Walking

5/10
Some shops and stores are within a few minutes.

Driving

7/10
This area is close to freeways and has adequate parking options.

Cycling

6/10
Peddling isn’t a problem with cyclist-friendly streets and bikeable destinations.

Transit

3/10
There are a few mass transit options within the area.

Points of interest for 301 E 3rd St, Waterloo

Groceries

7/10
At least one supermarket within a 15-minute walk

Shopping

4/10
Some shops within walking distance

Cafes

1/10
Few or no cafés within walking distance

Restaurants

5/10
Some restaurants within a few minutes’ walk

Primary schools

9/10
At least one elementary school within a 5-minute walk

High schools

8/10
At least one high school within a 15-minute walk

Nightlife

4/10
Some bars within walking distance

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