$799,000

About this home

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 Tampa Bay has to offer. 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-IMPACT 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!

Highlights

Property details

MLS

Stellar MLS

MLS #

MFRTB8559473

Property type

Single Family Residence

Subdivision

RAINBOW TERRACE

Status

Active

Days on market

N/A

On market date

October 22, 2026

Stories

N/A

Total bathrooms

3

Garage spaces

N/A

Parking spaces

N/A

Lot size

0.55 acres

Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.