17127 Rainbow Terrace, Odessa, FL 33556 (MLS # TB8559473)

PRICE $799,000 dsIDX morgage calculator
BEDS 4
BATHS 3
HOME SIZE 2,163 sqft
LOT SIZE 23,958 sqft

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!

DAYS ON MARKET 11 LAST UPDATED 10/22/2026
TRACT RAINBOW TERRACE YEAR BUILT 1973
COMMUNITY 33556 - Odessa COUNTY Hillsborough
STATUS Active PROPERTY TYPE(S) Single Family

SCHOOLS
Elementary School Hammond Elementary School
Jr. High School Sergeant Smith Middle-HB
High School Steinbrenner High School


ADDITIONAL DETAILS
AIR Central Air
AIR CONDITIONING Yes
APPLIANCES Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Washer, Water Softener
AREA 33556 - Odessa
CONSTRUCTION Block, Stucco
FIREPLACE Yes
HEAT Central
INTERIOR Built-in Features, Stone Counters, Vaulted Ceiling(s)
LOT 0.55 acre(s)
LOT DESCRIPTION Landscaped, Paved, Waterfront
SEWER Septic Needed, Septic Tank
STORIES 1
STYLE Traditional
SUBDIVISION RAINBOW TERRACE
TAXES 5051.02
UTILITIES Electricity Available, Electricity Connected
VIEW Yes
VIEW DESCRIPTION Lake, Water, Trees/Woods
WATER Private, Well
WATER ACCESS RAINBOW LAKE
WATERFRONT Yes
WATERFRONT DESCRIPTION Lake Privileges
MORTGAGE CALCULATOR
   

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CONTACT US ABOUT 17127 RAINBOW TERRACE
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Listing provided by Melissa Motta, FLORIDA EXECUTIVE REALTY, 813-324-2440
The information contained herein has been provided by My Florida Regional MLS DBA Stellar MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Listings last updated 10/29/26 3:09 PM PDT.

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