About This Home

This 4-bedroom, 3-bathroom single family at 17127 RAINBOW Terrace in Odessa, FL is listed for $799,000 ($369 per sqft). Built in 1973, the home offers 2,163 sqft of living space on a 0.55 acres lot.

Key Features

  • Built in 1973
  • 0.55 acre lot
  • Fireplace
  • Waterfront

Property Details

1 story
3 full
1973

Amenities

FireplaceWaterfrontViewHardwoodA/C
Listing 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!

Monthly Cost Estimate

$4,273/mo

20% down · 6.5% · 30 years

Principal$578
Interest$3,462
Insurance$233

Estimates only. Actual payments may vary.

Location

17127 RAINBOW Terrace

Odessa, FL 33556

RAINBOW TERRACE

Features & Amenities

Interior Features

Built-in FeaturesCeiling Fans(s)Stone CountersVaulted Ceiling(s)

Property Details

Flooring

Tile - CeramicCarpetHardwood

Construction

Block Stucco

Views

WaterLake

Outdoor Features

DeckPorch

Heating

Central

Cooling

Central Air

Appliances

DishwasherDisposalDryerMicrowaveRangeRefrigeratorWasherWater Softener

Questions & Answers

This 4-bedroom, 3-bathroom single family at 17127 RAINBOW Terrace is listed at $799,000 ($369/sqft). The estimated monthly payment is $4,273 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 1973, 0.55 acre lot, Fireplace, Waterfront. Interior Features: Built-in Features, Ceiling Fans(s), Stone Counters.

This property is listed by Melissa Motta.

MM

Melissa Motta

Agent at Florida Executive Realty

Listed by Florida Executive Realty · Broker phone: (813) 972-3430 · View on Broker Site · Broker website

MLS# TB8559473· Source: Stellar MLS· 13 days on PropertySimple

Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

17127 RAINBOW Terrace, Odessa, FL 33556

Open this listing in: