by Global Lifestyle Properties

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Keystone 33556 Keystone
17127 RAINBOW TERRACE
$799,000
● House - For Sale

17127 RAINBOW TERRACE

ODESSA, FL 33556
bedrooms
4 Beds
bathrooms
3 Baths
square feet
2,163 Ft²
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1PM - 3PM, Sat, Nov 7 -
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$4,345
Est. Monthly

About This Property

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 SLIDER 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!
Unit Size
2,163 Ft²
Days on Market
14 days
Land Size
0.55 acres
Price per sqft
$369
Property Type
House
Property Taxes
$421
HOA Dues
-
Year Built
1973

Listed By

Melissa Motta
FLORIDA EXECUTIVE REALTY
Wendy Ross
FLORIDA EXECUTIVE REALTY

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Last updated: 2 days ago (Stellar MLS #TB8559473)

Price History

Date / Event Date Event Price
Oct 19, 2026 Listed by FLORIDA EXECUTIVE REALTY $799,000
Listed by FLORIDA EXECUTIVE REALTY
Dec 21, 2020 Sold
Sold
Nov 25, 2020 No longer available -
No longer available
Nov 17, 2020 Price Decreased $455,000
↓ $20K (4.2%)
Price Decreased
Nov 4, 2020 Listed by FLORIDA EXECUTIVE REALTY $475,000
Listed by FLORIDA EXECUTIVE REALTY

Property Highlights

Air Conditioning
Fireplace
With View
Parking Details
Has Carport
Interior Details
Full Bathrooms: 3
Interior Features: Built-in Features, Ceiling Fan(s), Stone Counters, Vaulted Ceiling(s)
Appliances: Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Washer, Water Softener
Flooring Type: Carpet, Ceramic Tile, Engineered Hardwood
Door Features: Sliding Doors
Laundry Features: Inside
Rooms: 7
Has Fireplace
Fireplace Features: Wood Burning
Exterior Details
Square Footage: 2163
Square Footage Source: $0
Architectural Style: Traditional
Year Built: 1973
Waterfront Features: Lake Front
Waterbody Name: RAINBOW LAKE
Building Area Total: 2267
Levels: One
Other Structures: Shed(s)
Building Area Units: Square Feet
Window Features: Double Pane Windows, Insulated Windows
Construction Materials: Block, Stucco
Patio and Porch Features: Deck, Front Porch
Lot Features: Landscaped, Conservation Area, In County
Lot Size Area: 23598
Lot Size Units: Square Feet
Lot Size Acres: 0.55
Lot Size Square Feet: 23598
Tax Lot: 4
Water Source: Well
Financial Details
Tax Annual Amount: $5,051
Lease Considered: Yes
Utilities Details
Cooling Type: Central Air
Heating Type: Central
Sewer : Septic Needed, Septic Tank

Building Info

Overview

    General

  • Year Built: 1973
  • Effective Year Built: 1998
  • Building Count: 1
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 6
  • Building Style: 18
  • Exterior Walls Type: 7
  • Interior Walls Type: 3
  • Roof Shape Type: 7
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 3
  • Garage Square Area: 192
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 7
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 24,061
  • Lot Size Depth Feet: 1,830
  • Lot Size Frontage Feet: 1,100
  • Total Building Area: 2,163
  • Gross Building Area: 2,267
  • Building Area: 2,163
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 3
  • Heated Square Feet: 2,163
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: RAINBOW TERRACE
  • Land Acres: 0000000552
  • Standard Land Use Code: 1001
  • County Land Use Code: 0100
  • State Land Use Code: 001
  • Legal Description 1: RAINBOW TERRACE LOT 4

Neighborhood

  • School District Name: Hillsborough County School District
  • Census Tract: 011518

Zoning

  • Zoning: ASC-1

Geography

  • Assessors Map Reference: BK 33 PG 39
  • Parcel: 001991-0000
  • Lot: 4
  • Meridian: SEC 22 TWN 27S RNG 17E
  • Municipality: UNICORPORATED
  • Latitude: 28.1202
  • Longitude: -82.5979

    Address

  • Full Address: 17127 Rainbow Ter
  • Address - House Number: 17127
  • Address - Street Name: Rainbow
  • Address - Suffix Type: Ter
  • State: FL
  • City Name: Odessa
  • Carrier Code: R008
  • 4-Digit Zip Code: 2107
  • Zip Code: 33556

Valuation

    Tax

  • Total Area: 2,189
  • Tax Year: 2023
  • Tax Amount: $529,275
  • Tax Rate Code Area: U

    Appraisal Valuation

  • Standard Deviation: 0.1585
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 80
  • Final Value: 668,370
  • High Value: 774,320
  • Low Value: 562,420

    Market Valuation

  • Market Total Value: $422,523
  • Market Land Value: $235,224
  • Market Improvement Value: $187,299

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $316,457

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Dec 12, 2020
  • Current Sale Recording Date: Dec 21, 2020
  • Current Sale Price:
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2020546234
Data used for valuation calculations is provided by RealtyHop, and other third party sources

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Keystone


Similar Homes for Sale

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Nearby Rentals

Unit for rent at 18109 Crawley Road, ODESSA, FL, 33556

$3,500 /mo

  • 3 Beds
  • 2 Baths
  • 2,709 ft²
18109 Crawley Road, ODESSA, FL, 33556 Listing by Lorraine Johnson


Frequently Asked Questions

When was property at 17127 Rainbow Tr built and last sold?
The property at 17127 Rainbow Tr was built in 1973 and last sold on Dec 12, 2020 for $435,000.
How much is this home worth?
The estimated value of the home located at 17127 Rainbow Tr is $775,888.
What are some comparable homes to 17127 Rainbow Tr?
There are currently no comparable homes to 17127 Rainbow Tr.