Property Attributes
- MLS#TB8513826
- TypeSingle Family
- Listing Status Active
- CountyHillsborough
- CityODESSA
- AreaOdessa
- NeighborhoodRAINBOW TERRACE
- Zip33556
- StyleRanch
- Year Built1965
- Taxes$ 4121
- Price$ 825,000
- Bedrooms3
- Full Bathrooms2
- Half Bathrooms0
- Sqr Footage1756
- Lot Size0.48 Acres
Data Source:
Stellar MLS
Property Description
Enjoy approximately 93 feet of private frontage on beautiful Rainbow Lake. This unique and nearly rectangular homesite offers expansive water views, a spacious backyard, and excellent opportunities for boating, skiing, fishing, kayaking, paddle boarding and unforgettable sunsets. Rainbow Lake is approximately a 43 acre freshwater ski lake. Tucked away in a serene rural setting, this exceptional lake view property offers a rare combination of expansive views, open space, and true tranquility and ideal as a primary residence, second home, or weekend retreat. Lot is approximately 0.49 acres (about 93' x 230') and a rare find on this lake due to it's nearly rectangular hoesite with generous backyard. Whether you are relaxing by the pool, entertaining guests or simply wanting to unwind in total privacy, this property delivers a lifestyle that is increasingly difficult to find.
| Elementary School | Middle School | High School |
|---|---|---|
| Hammond Elementary School Elementary School | Walker-HB Middle School | Steinbrenner High School High School |
| Price History | |
|---|---|
| 6/1/2026 | Listed $950,000 |
| 7/3/2026 | 6$895,000 |
| 8/19/2026 | 8$825,000 |
General Features
| Sewer | Septic Tank |
|---|---|
| Heating | Electric |
| Cooling | Central Air |
| Utilities | Electricity Connected,Water Available |
| Roof | Shingle |
| Appliances | Dishwasher,Dryer,Range,Refrigerator,Washer |
| Zoning | ASC-1 |
| Garage Spaces | 2 |
| Patio/Porch Features | Covered |
| Architectural Style | Ranch |
| Pool Features | Deck,In Ground |
| Construction Materials | Block,Stucco |
| Year Built | 1965 |
| View | Water |
| Levels | One |
| Property Subtype | Single Family Residence |
| Tax Year | 2025 |
| Ownership | Fee Simple |
| County | Hillsborough |
| New Construction | false |
| Property Type | Residential |
| Attached Garage | true |
| Subdivision Name | RAINBOW TERRACE |
| Facing Direction | Southeast |
| Garage Y/N | true |
| Other Structures | Shed(s) |
| Total Rooms | 8 |
| Full Baths | 2 |
| Status | Active |
| Directions | N. W. Hillsborough County. Gunn Highway to west on N. Mobley Road. Right on Crawley Road, approximately 1/2 mile to Rainbow Terrace, then left, located on lake side. |
| High School | Steinbrenner High School |
| City | ODESSA |
| Body of Water | LAKE RAINBOW |
| Senior Community Y/N | false |
| MLS Area | 33556 - Odessa |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 21252 |
| Carport Y/N | false |
| Listing Terms | Cash |
| Elementary School | Hammond Elementary School |
| Property Attached Y/N | false |
| Land Lease Y/N | false |
| Tax Annual Amount | 4121.18 |
| Home Warranty Y/N | false |
| Middle/Junior High School | Walker-HB |
| Property Condition | Completed |
| Additional Parcels Y/N | false |
| Lease Considered Y/N | false |
| Virtual Tour | https://www.propertypanorama.com/instaview/stellar/TB8513826 |
| Building Area Units | Square Feet |
| Living Area Units | Square Feet |
| Standard Status | Active |
| Occupancy Type | Owner |
| Tax Lot | 00013 |
| Legal Description | Rainbow Terrace Lot 13 |
| Water View | Lake |
| Water Access Type | Lake |
| Water Access Y/N | true |
| Additional Rooms | Family Room,Formal Dining Room Separate,Formal Living Room Separate |
| Water View Y/N | true |
| Flood Zone Code | AE |
| In Law Suite YN | false |
| DockY/N | false |
Interior Features
| Interior Amenities | Ceiling Fan(s),Eating Space In Kitchen,Kitchen/Family Room Combo,Living Room/Dining Room Combo,Primary Bedroom Main Floor,Split Bedroom,Window Treatments |
|---|---|
| Flooring | Carpet,Laminate,Tile |
| Furnished Y/N | Unfurnished |
| Total Stories | 1 |
| Air Conditioning Y/N | true |
| Heating Y/N | true |
| Window Features | Blinds,Window Treatments |
| Fireplace Y/N | false |
| Laundry Features | Electric Dryer Hookup,In Garage |
| Total Bedrooms | 3 |
| LivingAreaSource | Public Records |
| Total Baths | 2 |
Exterior Features
| Exterior Amenities | Private Entrance,Private Mailbox,Private Yard,Sliding Doors,Storage |
|---|---|
| Vegetation | Trees/Landscaped |
| Parking Features | Deeded,Driveway,Ground Level |
| Lot Features | Landscaped,Level,Private |
| Water Source | Well |
| Lot Size Area | 21252 |
| Foundation Details | Slab |
| Spa | false |
| Building Area Total | 2694 |
| Lot Size Acres | 0.48 |
| Road Surface Type | Paved,Asphalt |
| Private Pool | true |
| Waterfront Y/N | false |
| Covered Spaces | 2 |
| Road Frontage Type | Street Paved |
| Number of Lots | 1 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Updated on September 21, 2026 8:05 PM UTC