This house is one of only about 20 octagon-shaped buildings still standing in Iowa. Orson Squire Fowler, whose 1854 book on the subject spoke of eight-sided houses as “cheap, convenient, superior and adapted to rich and poor”, made the shape popular in the 19th century.

William Waterfield built this house in 1853, and it once featured a veranda around each floor. Built of limestone quarried from adjoining property, the walls are 2 feet thick. The house has undergone a few renovations, including stucco covering and the removal of the large verandas.

The Waterfield House is listed in the National Register of Historic Places. It is sometimes mistakenly referred to as the "Hex (for hexagonal) House." It was used as a hotel around the turn of the century but is now a private residence.