Iskanderkul is one of the top sights in Tajikistan. This beautiful lake, about a 3-hour drive from the capital Dushanbe, is a perfect base for some trekking in the Fann Mountains or just a chilly weekend in the Turbaza or a homestay near the lake or a nearby village.
From the lake, it's a 30-minute hike down the river gorge (see trailhead) to the waterfall. It is not signposted (nothing really is at Iskanderkul...), but the trail is visible on most maps (incl. Google maps) and you really just follow it down on the left side of the river, can't miss the waterfall.
The river plunges down about 40 meters and you can stand on a platform right above it, quite spectacular.
The geocache is hidden about 5 meters from the platform near/under a rock (because A) I didn't have a magnet on me and B) some people might not be so thrilled to go on the platform...) - see the spoiler photo for more and enjoy the hike and the hunt!