Waveland Bighole 3 is a privately owned earth dam located in Pottawattamie County, Iowa, near the city of Elliot. Built in 1985 by the USDA NRCS, this dam serves multiple purposes including fire protection, stock, and small fish pond maintenance. With a height of 26 feet and a length of 290 feet, Waveland Bighole 3 has a storage capacity of 36 acre-feet and covers an area of 3 acres.

Managed by the Iowa Department of Natural Resources, Waveland Bighole 3 is regulated, permitted, inspected, and enforced for safety and environmental compliance. The dam poses a low hazard potential with a moderate risk assessment rating. Despite being completed in the 1980s, the dam's condition assessment remains unrated as of the last inspection in 1990. Its uncontrolled spillway type and soil foundation contribute to its operational and safety features.

Water resource and climate enthusiasts can appreciate the role of Waveland Bighole 3 in water management and conservation efforts within the TR- East Nishnabotna River watershed. As a key infrastructure for local fire protection and agricultural activities, this dam highlights the importance of sustainable water resource utilization in rural communities. Its moderate risk level underscores the ongoing need for monitoring and maintenance to ensure the safety and functionality of this vital water storage structure.