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About this home
17109 Rainbow Terrace is a 1965-built home in Rainbow Terrace, Odessa. Inside you'll find 3 bedrooms, 2 bathrooms, and 1,756 square feet of living space. Listed at $825,000 (about $470/sqft), 140 days on market. Flood zone AE - confirm flood insurance requirements with your lender.
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.
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The essentials
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Details
Districts can re-zone, so verify directly with the district before relying on these.
Taxes reflect the most recent assessment in the MLS feed. Actual tax owed can vary, so confirm with the county property appraiser before closing.
Price history
Neighborhood
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Property taxes are this home's actual annual bill from the MLS, divided by twelve. Insurance estimated at 0.60%. Rate defaults to 6.8% on a 30-year fixed. Tap a pencil to use your own numbers. Estimates only, not a loan quote.
Quick answers.
Price
$825,000
$470 per sq ft
Beds and baths
3 beds, 2 baths
Size
1,756 sq ft
Time on market
140 days
Year built
1965
Monthly payment
About $5,059/mo
That is 20% down on a 30-year fixed at 6.8%, plus the home's $4,121 annual tax bill, insurance.
Flood zone
Zone AE
That is a high-risk designation, so a lender will normally require flood insurance. Confirm the current rate before you write an offer.
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