4 Days Ago
Location
310 E 2nd St, Waterloo, IA 50703, USA|Franklin Gateway
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Property Overview
The 5-Plex Apartment receives a strong overall Zumper expert rating of 8.3, highlighting its competitive pricing and excellent value based on a price rating of 9 out of 10. The property features top-notch amenities, including washer and dryer use, with location and amenities rated 9 out of 10, ensuring residents enjoy high living standards and convenient access to schools and public transport within a reasonable distance. Trustworthiness is reflected in the solid rating of 7 out of 10, emphasizing transparency in its management and details.
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- High school nearby
Floor plans
| 1BR/1.0BA | 1 bed | 1 bath | 400 sqft | $625 /mo | 1 unit available | Apartment in a 5-Plex Building in downtown Waterloo, Iowa. This is a one bedroom, one bathroom unit for $625/month, $625 security deposit. All five units have access to the basement for washer and dryer use. Property Owner pays water and utilities. The lease will be a month/month. |
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Amenities for 5-Plex Apartment
Apartment Amenities
| Central Heat | Dryer |
| Electricity | Heating |
| Washer | Water |
Appliances
| In-Unit Laundry | Oven |
| Oven/Stove | Range |
| Refrigerator |
Services
| Garbage |
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
Building details
Property details
| Units | 5 |
|---|
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About 5-Plex Apartment
Apartment in downtown Waterloo, IA 5-Plex.
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.
8.3
/10
Very GoodWith a solid 8.3 out of 10 overall, 5-Plex Apartment is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, 5-Plex Apartment has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
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.
5-Plex Apartment 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·9A 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.
5-Plex Apartment goes above and beyond to provide sought-after conveniences and desirable perks, including garbage. Renters looking for popular or luxurious features will find them here—and for that reason, 5-Plex Apartment receives one of the highest amenities scores.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
5-Plex Apartment 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 5-Plex Apartment 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.
5-Plex Apartment 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 5-Plex Apartment compares to other nearby properties.
Positives
- More space
- The 1-bedroom is 400 sqft larger than other listings nearby
- High school nearby
- There is a high school 0.4 mile away
Considerations
- Greater distance from middle schools
- The nearest middle school is farther than 1 mile away
- Lacks images
- Fewer than 10 photos available for this location
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Rent trends in Franklin Gateway
1-bedroom apartments at 5-Plex Apartment cost about the same as the average rent price for 1-bedroom apartments in Franklin Gateway.
Median rents as of Jan 17 2026.
Franklin Gateway
Waterloo
| Month | Median Rent |
|---|---|
| February 2024 | $654 |
| March 2024 | $635 |
| April 2024 | $518 |
| May 2024 | $762 |
| June 2024 | $918 |
| July 2024 | $1,200 |
| 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 |
| Month | Median Rent |
|---|---|
| March 2024 | $440 |
| April 2024 | $250 |
| June 2024 | $1,250 |
| July 2024 | $1,225 |
| August 2024 | $1,200 |
| September 2024 | $1,200 |
Affordability calculator
Can I afford to live at 310 E 2nd St?
Bedrooms
1 bedroomRent-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
$25,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $25,000 annually to afford this 1-bedroom monthly rent price of $625.
For more information on rent affordability, visit our rent calculator.
Schools near 5-Plex Apartment
Cunningham School
1224 mobile st
waterloo, IA, 50703
PK, K-5Public
C-
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Internet available near 5-Plex Apartment
Getting around Waterloo near 310 E 2nd 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
More spots are within biking distance and some roads are cyclist-friendly.
Transit
3/10
There are a few mass transit options within the area.
Points of interest for 310 E 2nd St, Waterloo
Groceries
6/10
At least one supermarket within a 15-minute walk
Shopping
3/10
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 10-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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