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$639,950

  • For Sale
  • Active
  • Single Family
  • 3 Beds
  • 2 Full Baths
  • 1,742 Sq. Ft.
  • Updated 8 days ago
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Charming 3 bedroom, 2 bathroom home in one of the most sought after locations on Rainbow Lake. Whether you are looking for a vacation getaway or a year round residence, this property offers incredible potential with a flexible floor plan that allows you to personalize every space to your taste. The spacious enclosed sunroom provides beautiful views overlooking 50 acres of serene lakefront, while the backdoor opens to a covered patio and large backyard, ideal for entertaining, cookouts, or creating your own outdoor oasis. The possibilities here are truly wide open. The lakefront setting is perfect for water enthusiasts, offering opportunities for boating, kayaking, paddleboarding, and water skiing right outside your door. Please note photo number two has been enhanced to illustrate the home's potential with simple cosmetic improvements and landscaping. The current condition of the property is reflected in the other photos. Situated on a quiet cul de sac with mature landscaping, this property offers privacy with no HOA or CDD fees, along with strong potential for short term rental use such as VRBO or Airbnb. Conveniently located near Steinbrenner High School.

Full Property Details for 17119 Rainbow Terrace

General

  • Price: $639,950
  • Taxes: $2,107 (2024)
  • Status: Active
  • Type: Single Family
  • Source: MidFloridaRegionalMLS
  • MLS ID: TB8357149
  • Updated: 4/19/2026
  • Added to Site: 421 day(s) ago

Rental Information

  • Min. Lease: 7 Months

Interior

  • Number of Rooms: 3
  • Interior Features: Ceiling Fan(s), Primary Bedroom Main Floor
  • Appliances: Refrigerator
  • Furnishings: Unfurnished
  • Flooring: Tile

Rooms

Bathrooms

  • Total Bathrooms: 2
  • Full Bathrooms: 2

Bedrooms

  • Total Bedrooms: 3

Other Rooms

  • Laundry: Inside

Exterior

  • Exterior Features: Private Mailbox

Parking

  • Parking Features: Boat, Driveway

Location

  • Area: 33556 - Odessa
  • County: Hillsborough
  • Development Name: 33556 - Odessa
  • Subdivision: RAINBOW TERRACE
  • Driving Directions: Crawley Road to Rainbow Terr to west to address on left
  • Direction Faces: Northwest

School Information

  • Elementary School: Hammond Elementary School
  • Middle School: Sergeant Smith Middle-HB
  • High School: Steinbrenner High School

Community

  • Community Name: 33556 - Odessa
  • Community Features: Waterfront

Heating & Cooling

  • Cooling Type: Central Air
  • Heating Type: Electric

Utilities

  • Sewer: Septic Tank
  • Water District: RAINBOW LAKE
  • Water: Well
  • Utility Description: Public, Water Connected

Structural Information

  • Exterior Const.: Block
  • Roof: Shingle
  • Stories/Levels: One
  • Square Feet: 1,742
  • Sq. Ft. Source: Owner
  • Year Built: 1962

Lot Features

  • Property View: Trees/Woods, Water
  • Lot Size (Acres): 0.35
  • Lot Size (Sq. Ft.): 15,140
  • Lot Size: 15140
  • Frontage: Street Dead-End, Street Paved
  • Street/Road Desc.: Paved, Asphalt
  • Fencing (Description): Wood

Water Features

  • Water Front: Yes
  • Water View: Yes
  • Water Access: Yes
  • Water Access Desc: Lake
  • Water Extras: Yes
  • Water Front Name: RAINBOW LAKE
  • Water Front Desc.: Waterfront, Lake Front

Financial Considerations

  • Tax Amount: $2,107
  • Tax Year: 2024

Disclosures and Reports

  • Ownership: Fee Simple
  • Special Conditions: None
  • Legal Description: RAINBOW TERRACE LOT 8
  • Flood Zone Info: AE
  • APN: U22271701500000000008.0
  • Property ID: U22271701500000000008.0
  • Block/Lot/Section: 27

Listed by Real Broker, Llc

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Listing agents

— 17119 Rainbow Terrace —

  • Real Broker, Llc

  • Real Broker, Llc

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 17119 Rainbow Terrace

School District:Hillsborough County School District
NameGradesDistance
Hammond Elementary School
8008 North Mobley Road, Odessa, FL 33556
PK-51.6 mi
Sergeant Paul R Smith Middle School
14303 Citrus Pointe Drive, Tampa, FL 33625
6-83.4 mi
Steinbrenner High School
5575 West Lutz Lake Fern Road, Lutz, FL 33558
9-124.8 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 17119 Rainbow Terrace Get Price Alerts and Save Property

Date
Details
Price
Change
Source
5/24/2025
Price Reduced
$639,950
-4.48%
MLS
3/03/2025
Listed
$669,950
—
MLS
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 17119 Rainbow Terrace

Year
Property Taxes
Change
Tax Assessment
Change
2025
$2,299
9%
$135,041
3%
2024
$2,107
5%
$131,235
3%
2023
$2,005
10%
$127,413
6%
2021
$1,830
-2%
$120,099
-3%
2022
$1,862
2%
$123,702
4%
2021
$1,830
10%
$118,441
2%
2019
$1,663
3%
$115,778
2%
2018
$1,610
2%
$113,619
2%
2017
$1,579
2%
$111,282
2%
2016
$1,552
-1%
$108,993
1%
2015
$1,567
2%
$108,235
1%
2014
$1,543
—
$107,376
2%
2013
$1,542
—
$105,789
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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NMLS#: 1598647

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Listed by Real Broker, Llc

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17119 Rainbow Terrace, Odessa, FL 33556 (MLS# TB8357149) is a Single Family property with 3 bedrooms and 2 full bathrooms. 17119 Rainbow Terrace is currently listed for $639,950 and was received on March 03, 2025. Want to learn more about 17119 Rainbow Terrace? Do you have questions about finding other Single Family real estate for sale in Odessa? You can browse all Odessa real estate or contact a Coldwell Banker agent to request more information.

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