Zumper
modified
Updated 10 Hours Ago

Highlights

  • Pet Friendly
  • Laundry room on site
  • Ongoing renovations

Location

215 1/2 E 5th St, Waterloo, IA 50703, USA
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Tour 215 1/2 East 5th Street Apartments

Contact

Management

Blue Water Investment Group (formerly MCH Investments)

Leasing office

(319) 249-6018

Property Overview

215 1/2 East 5th Street Apartments earns a strong overall impression with an 8/10 expert rating, supported by standout value, location, and amenities scores. It also offers on-site laundry and ongoing renovations, with the nearby top-rated high school adding to its appeal and convenience.

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

8.0
Very Good
With a solid 8 out of 10 overall, 215 1/2 East 5th Street Apartments is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, 215 1/2 East 5th Street Apartments has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.

Things you’ll love

  • High school nearby

Floor plans

1BR/1.0BA1 bed1 bath$650 /mo1 unit availableNow Available – Charming 1-Bedroom Apartment in Downtown Waterloo! Live in the heart of downtown Waterloo in a historic building that is currently being transformed with exciting interior and exterior renovations, blending classic character with fresh updates. Apartment Features: 1 bedroom Prime downtown location Historic building with ongoing renovations Laundry room on site Utilities: Tenant pays electricity and gas Landlord pays water, sewer, and garbage Pets: Cats and other small pets are welcome with an additional pet fee. No dogs permitted. Apply today! Once your application is approved, we'll contact you to schedule a showing.

Let's explore this property.

Amenities for 215 1/2 East 5th Street Apartments

Building

Cats OKDogs OK
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.

Policies and fees

Applicants

Applicants

One-time.

Contact Property

REQUIRED FEES

Security Deposit

One-time. Refundable.

Contact Property

Dog Policy

Allowed

Cat Policy

Allowed

Contact for more information on pet policy.

Questions about this property’s policies and fees?

Building details

Property details

Units6

About 215 1/2 East 5th Street Apartments

HomeApartments in Waterloo 215 1/2 East 5th Street Apartments

Now Available – Charming 1-Bedroom Apartment in Downtown Waterloo! Live in the heart of downtown Waterloo in a historic building that is currently being transformed with exciting interior and exterior renovations, blending classic character with fresh updates. Apartment Features: 1 bedroom Prime downtown location Historic building with ongoing renovations Laundry room on site Utilities: Tenant pays electricity and gas Landlord pays water, sewer, and garbage Pets: Cats and other small pets are welcome with an additional pet fee. No dogs permitted. Apply today! Once your application is approved, we'll contact you to schedule a showing.


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.
8.0
/10
Very Good
With a solid 8 out of 10 overall, 215 1/2 East 5th Street Apartments is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, 215 1/2 East 5th Street Apartments has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
How we rated 215 1/2 East 5th Street Apartments
Price·9A 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.
215 1/2 East 5th Street Apartments stands out with a remarkable rating of 9/10 for its cost per bedroom compared to other rentals in the area. Considering the excellent balance between price, convenience, and comfort that it provides, residents enjoy a high-quality living experience.
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, 215 1/2 East 5th Street Apartments 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.
215 1/2 East 5th Street Apartments 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 215 1/2 East 5th Street Apartments 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.
215 1/2 East 5th Street Apartments 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 215 1/2 East 5th Street Apartments compares to other nearby properties.

Positives

High school nearby
There is a high school 0.3 miles away

Considerations

Distance from grocery stores
The nearest grocery store is 3.5 miles away
Greater distance from middle schools
The nearest middle school is farther than 1.3 miles away

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Rent trends in Waterloo

1-bedroom apartments at 215 1/2 East 5th Street Apartments cost about 2% less than the average rent price for 1-bedroom apartments in Waterloo.

Median rents as of Oct 17 2026.
Waterloo
A table of studio rental data trends in Waterloo
MonthMedian Rent
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$825
August 2026$736
September 2026$798
October 2026$824

Affordability calculator

Can I afford to live at 215 1/2 E 5th St?

Bedrooms

1 bedroom

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

$26,000/yr

With your selected rent-to-income ratio, you'd ideally want to make $26,000 annually to afford this 1-bedroom monthly rent price of $650.
For more information on rent affordability, visit our rent calculator.

Schools near 215 1/2 East 5th Street Apartments

Lowell Elementary School

1628 washington st

waterloo, IA, 50702

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

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

Getting around Waterloo near 215 1/2 E 5th St

Walking

6/10
Some shops and stores are within a few minutes.

Driving

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

Cycling

8/10
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 215 1/2 E 5th St, Waterloo

Groceries

7/10
Wide variety of groceries within a short drive, including some within walking distance

Shopping

6/10
Wide variety of shops within a short drive, including some within walking distance

Cafes

3/10
Some cafés within a short drive

Restaurants

7/10
Wide variety of restaurants within a short drive, including some within walking distance

Primary schools

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

High schools

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

Nightlife

9/10
Wide variety of bars within a few minutes' walk

Explore the area around 215 1/2 E 5th St

Balkan Grocery
1816 Williston Ave
Guddi Mart
506 Byron Ave
S International Market
822 Laporte Rd
Mooroo
3015 Kimball Ave
ALDI
1918 Schukei Rd

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