Walters Dam, located in Hardin County, Iowa, along the TR- South Fork Iowa River, was completed in 1999 by the NRCS for the primary purposes of fire protection, stock, or small fish pond. This earth dam stands at a height of 30 feet and has a length of 558 feet, with a storage capacity of 71 acre-feet. The dam is owned privately and is regulated by the Iowa Department of Natural Resources, with state permitting, inspection, and enforcement in place.

The dam has a low hazard potential and is currently rated as "Not Rated" in terms of condition assessment. Despite its moderate risk level, there are no specific risk management measures or emergency action plan in place as of the most recent data update in April 2021. The dam's spillway type is uncontrolled, and it has no outlet gates or associated structures. With a surface area of 3.5 acres and a drainage area of 0.5 square miles, Walters Dam serves as a vital resource for water management in the region, contributing to the overall environmental and agricultural sustainability in the area.