Stacey Olive
REALTOR®
BEDS4
BATHS3 full
SQUARE FEET2,163
MLS#TB8559473
STATUSActive
PROPERTY TYPEResidential - Single Family
SUBDIVISIONRAINBOW TERRACE
Property Description
EXCEPTIONAL LAKEFRONT LIVING IN HIGHLY SOUGHT-AFTER ODESSA! Discover a rare opportunity to own a beautifully maintained 4-bedroom, 3-bath waterfront home offering 110 feet of frontage on picturesque Rainbow Lake, a stunning natural setting surrounded by towering 100-foot cypress trees and lush Florida landscape. Perfectly positioned on a quiet, dead-end street across from a lush conservation area, this exceptional property offers a peaceful, private retreat while remaining conveniently close to everything in Tampa Bay. OVER $220,000 IN IMPROVEMENTS AND UPGRADES COMPLETED FROM 2021-2026! Meticulously maintained and thoughtfully updated, this home offers an impressive collection of major improvements, including a NEW ROOF (2026), NEW HURRICANE WINDOWS AND DOORS (2026), beautifully REMODELED BATHROOMS, NEW EXTERIOR STUCCO AND FRESH EXTERIOR PAINT (2026), ALL NEW HVAC DUCTWORK AND VENTS (2026), and NEW ATTIC INSULATION (2026). Additional enhancements include updated lighting throughout the home, new electrical outlets and switches, refreshed interior paint, updated drywall ceilings in several living areas, and a Kinetico water softening and reverse osmosis system. A charming wood-burning fireplace adds warmth and character to the living space, while the updated laundry room features additional cabinetry and a new washer and dryer. Outside, a convenient storage shed provides extra space for tools, lawn equipment, and recreational gear. Even the waterfront dock platform has been refurbished, providing the perfect setting to enjoy the beauty of Rainbow Lake. These extensive improvements represent a significant investment in the home's comfort, efficiency, and long-term value. THE WATERFRONT LIFESTYLE IS THE TRUE SHOWSTOPPER! Rainbow Lake encompasses approximately 50 acres of beautiful freshwater, offering an incredible setting for boating, water skiing, jet skiing, fishing, kayaking, paddleboarding, or simply relaxing along the shoreline. The lake also features a navigable connection to Little Moon Lake, offering additional opportunities for waterfront exploration when water levels permit. Imagine starting your mornings with coffee overlooking the lake, spending afternoons on the water, and unwinding in the evenings beneath the majestic cypress trees. This is Florida waterfront living at its finest! Despite its serene, tucked-away location, this home offers outstanding convenience. Zoned for highly regarded Steinbrenner High School, the property is approximately 20 minutes from Tampa International Airport, minutes from popular restaurants, shopping, and everyday conveniences, and less than an hour from the beautiful Gulf Coast beaches. A RARE COMBINATION OF NATURAL BEAUTY, EXTENSIVE UPDATES, AND RECREATIONAL WATERFRONT LIVING IN ONE OF ODESSA'S MOST DESIRABLE SETTINGS. Whether you're seeking an active lakefront lifestyle or a peaceful escape surrounded by nature, this extraordinary property offers the best of both worlds. Schedule your private showing and experience the beauty of Rainbow Lake firsthand!
Property Features
Property Type: Residential - Single Family
Cooling: Central Air
Heating: Central
Home Style: Traditional
Lot Size: 0.55 Acres
Roof Type: Shingle
Stories: 1.0
Taxes: $5,051
Year Built: 1973
Amenities
Built-in Features
Ceiling Fans(s)
Stone Counters
Vaulted Ceiling(s)
Feature Descriptions
Appliances: Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Washer, Water Softener
Body of Water: RAINBOW LAKE
Days on Site: 8
Directions: From Gunn Hwy. turn west onto North Mobley, then north onto Crawley Road. Turn west onto Rainbow Terrace and follow the road around the bend. The home will be on the left side.
Exterior: Block, Stucco
Fireplace: Wood Burning
Fireplace Y/N: Yes
Flood Zone Code: AE X
Flooring: Carpet, Ceramic Tile, Hardwood
Foundation: Slab
Home Warranty Y/N: No
Lot: Conservation Area, In County, Landscaped, Paved
Lot Dimensions: 0.55
Other Equipment: Irrigation Equipment
Other Structures: Shed(s)
Ownership: Fee Simple
Patio/Porch: Deck, Front Porch
Pets Allowed: Yes
Property Attached Y/N: No
Property Sub-Type: Single Family Residence
Sewer: Septic Needed, Septic Tank
Showing Instructions: Appointment Only, Lock Box Electronic, Lock Box Electronic-CBS Code Required, See Remarks, ShowingTime
Special Sale Provisions: None
Special View Info: Water
Utilities: Electricity Available, Electricity Connected
Vegetation: Mature Landscaping, Trees/Landscaped
Water: Well
Water Access: Lake - Chain of Lakes
Water Access Y/N: Yes
Waterfront Features: Lake Privileges, Skiing Allowed
Water View: Lake - Chain of Lakes
Windows: Double Pane Windows, Insulated Windows
Zoning: ASC-1
Room Sizes
Kitchen: 15x16
Dining Room: 11x13
Living Room: 23x15
Primary Bedroom: 15x15
Bedroom 2: 12x14
Bedroom 3: 12x10
Bedroom 4: 22x18
Local Schools
High School: Steinbrenner High School
Middle School: Sergeant Smith Middle-HB
Elementary School: Hammond Elementary School
Listed By / Shown By
Listed By
Agency Name: FLORIDA EXECUTIVE REALTY
Agency Contact: 813-324-2440
Shown By
Agent Name: Stacey Olive
Agent Phone: Cell: (440) 371-9126
Agency Title: Key Realty
Estimate Your Payment
Estimated Payment
$ 5,123.34 per month $4,469.38 Principal & Interest $420.92 Property Tax $233.04 Homeowner's InsuranceChange Payment Information
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17127 Rainbow Terrace | MLS# TB8559473
This single family home located at 17127 Rainbow Terrace, Odessa, FL 33556 is currently listed for sale with an asking price of $799,000. This property was built in 1973 and has 4 bedrooms and 3 full baths with 2163 sq. ft. Rainbow Terrace is located in the RAINBOW TERRACE subdivision. Search RAINBOW TERRACE real estate on www.soldwithstacey.net today.