For sale

Price cut: $70K (8/19)

$825,000

17109 RAINBOW TERRACE, ODESSA, FL 33556

3beds

1,756sqft

$5,544/mo

Get pre-qualified

Single Family Residence

Built in 1965

0.49 Acres Lot

$793,400 Zestimate^®

$470/sqft

$-- HOA

What's special

Exceptional lake view propertySpacious backyardOpen spaceExpansive viewsSerene rural settingExpansive water viewsRelaxing by the pool

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.

88 days
917
19

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 3
Bathrooms: 2
Full bathrooms: 2

Rooms

Room types: Family Room, Dining Room, Living Room

Primary bedroom

Features: Makeup/Vanity Space, Walk-In Closet(s)
Level: First

Other

Features: Ceiling Fan(s), Walk-In Closet(s)
Level: First

Other

Features: Walk-In Closet(s)
Level: First

Primary bathroom

Features: Tub With Shower, No Closet
Level: First

Bathroom 2

Features: Shower No Tub, No Closet
Level: First

Dining room

Features: No Closet
Level: First

Kitchen

Features: Pantry, No Closet
Level: First

Living room

Features: No Closet
Level: First

Heating

Electric

Cooling

Central Air

Appliances

Included: Dishwasher, Dryer, Range, Refrigerator, Washer
Laundry: Electric Dryer Hookup, In Garage

Features

Ceiling Fan(s), Eating Space In Kitchen, Kitchen/Family Room Combo, Living Room/Dining Room Combo, Primary Bedroom Main Floor, Split Bedroom
Flooring: Carpet, Laminate, Tile
Doors: Sliding Doors
Windows: Window Treatments
Has fireplace: No

Interior area

Total structure area: 2,694
Total interior livable area: 1,756 sqft

Video & virtual tour

View virtual tour

Property

Parking

Total spaces: 2
Parking features: Deeded, Driveway, Ground Level
Attached garage spaces: 2
Has uncovered spaces: Yes

Features

Levels: One
Stories: 1
Patio & porch: Covered
Exterior features: Private Entrance, Private Mailbox, Private Yard, Storage
Has private pool: Yes
Pool features: Deck, In Ground
Has view: Yes
View description: Water, Lake
Has water view: Yes
Water view: Water,Lake
Waterfront features: Lake Privileges
Body of water: LAKE RAINBOW

Lot

Size: 0.49 Acres
Features: Landscaped, Level, Private
Residential vegetation: Trees/Landscaped

Details

Additional structures: Shed(s)
Parcel number: 0019990000
Zoning: ASC-1
Special conditions: None

Construction

Type & style

Home type: SingleFamily
Architectural style: Ranch
Property subtype: Single Family Residence

Materials

Block, Stucco
Foundation: Slab
Roof: Shingle

Condition

Completed
New construction: No
Year built: 1965

Utilities & green energy

Sewer: Septic Tank
Water: Well
Utilities for property: Electricity Connected, Water Available

Community & HOA

Community

Pet fee: $0 monthly
Subdivision: RAINBOW TERRACE

HOA

Has HOA: No

Location

Region: Odessa

Financial & listing details

Price per square foot: $470/sqft
Tax assessed value: $473,275
Annual tax amount: $4,121
Date on market: 6/1/2026
Cumulative days on market: 88 days
Listing terms: Cash
Ownership: Fee Simple
Total actual rent: 0
Electric utility on property: Yes
Road surface type: Paved, Asphalt

Estimated market value

$793,400

$754,000 - $833,000

$2,911/mo

Price history

Date	Event	Price
8/19/2026	Price change	$825,000-7.8%$470/sqft
Source: Stellar MLS #TB8513826 Report a problem
7/3/2026	Price change	$895,000-5.8%$510/sqft
Source: Stellar MLS #TB8513826 Report a problem
6/1/2026	Listed for sale	$950,000$541/sqft
Source: Stellar MLS #TB8513826 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$4,121 +8.6%	$238,655 +2.9%
2024	$3,793 +3.6%	$231,929 +3%
2023	$3,661 +3.9%	$225,174 +3%
2022	$3,523 +1.2%	$218,616 +3%
2021	$3,480 +2.7%	$212,249 +1.4%
2020	$3,389 +3.3%	$209,319 +2.3%
2019	$3,281	$204,613 +11.3%
2018	$3,281 +12.8%	$183,758 -5.7%
2017	$2,910 +1.5%	$194,807 +10.5%
2016	$2,867 +1.1%	$176,276 +0.7%
2015	$2,836 -0.2%	$175,051 +0.8%
2014	$2,842	$173,662 +1.5%
2013	$2,842 +0.4%	$171,096 +1.7%
2012	$2,830 -7.8%	$168,236 -6.4%
2011	$3,070 -1.4%	$179,807 -1.9%
2010	$3,115 +2.8%	$183,309 +2.7%
2009	$3,029 -14.8%	$178,490 -12.7%
2008	$3,554 +200.8%	$204,380 +171.7%
2007	$1,182 -2.8%	$75,211 +2.5%
2006	$1,216 +18%	$73,377 +3%
2005	$1,030	$71,240 +3%
2004	--	$69,165 +22.3%
2003	--	$56,569 +2.4%
2002	--	$55,243 +1.6%
2001	--	$54,373 +2.2%
2000	$696	$53,216