Updated 5+ Days Ago
Location
301 E 3rd St, Waterloo, IA 50703, USA|Franklin Gateway
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Property Overview
E 3rd St offers a two bedroom, two bathroom layout with strong overall appeal, supported by an 8/10 amenities rating, 9/10 location rating, and 8/10 trustworthiness rating. It also stands out for value per square foot, ranking in the 100th percentile, while the expert rating suggests there may still be some features worth a closer look.
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.
Things you’ll love
More space
Floor plans
| 2BR/2.0BA | 2 bed | 2 bath | 1,154 sqft | $1,600 /mo | 1 unit available | Step into modern comfort at 305 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 In-unit laundry Central heating & cooling Private yard & Garage, Off street parking Pet-friendly (inquire for details) |
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Policies and fees
Applicants
Applicants
One-time.
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REQUIRED FEES
Security Deposit
One-time. Refundable.
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Building details
Property details
| Units | 6 |
|---|
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About E 3rd St
Step into modern comfort at 305 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 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.
6.9
/10
GoodE 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.
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·8A 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.
The level of transparency this property provides distinguishes it as a great rental. With a high attention to detail and desirable features, renters can be sure they will get an accurate picture of their potential new home.
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 90 sqft larger than other listings nearby
Considerations
- Greater distance from middle schools
- The nearest middle school is farther than 1 mile away
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Rent trends in Franklin Gateway
Median rents as of Jul 18 2026.
Franklin Gateway
Waterloo
| Month | Median Rent |
|---|---|
| August 2024 | $1,200 |
| September 2024 | $1,187 |
| October 2024 | $1,187 |
| November 2024 | $1,120 |
| December 2024 | $1,106 |
| January 2025 | $1,100 |
| February 2025 | $1,062 |
| March 2025 | $1,100 |
| April 2025 | $1,100 |
| May 2025 | $1,100 |
| June 2025 | $1,072 |
| July 2025 | $975 |
| August 2025 | $1,100 |
| September 2025 | $1,105 |
| October 2025 | $991 |
| November 2025 | $841 |
| December 2025 | $666 |
| January 2026 | $600 |
| February 2026 | $692 |
| March 2026 | $696 |
| April 2026 | $836 |
| May 2026 | $700 |
| June 2026 | $606 |
| July 2026 | $849 |
| Month | Median Rent |
|---|---|
| August 2024 | $1,200 |
| September 2024 | $1,200 |
Affordability calculator
Can I afford to live at 301 E 3rd St?
Bedrooms
2 bedroomsRent-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
$64,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $64,000 annually to afford this 2-bedrooms monthly rent price of $1,600.
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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Internet available near E 3rd St
Neighborhood
Franklin Gateway | Waterloo, IA
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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