RARE WATERFRONT OPPORTUNITY with 105' of frontage along RAINBOW LAKE in beautiful, ODESSA! The peace and serenity of Rainbow Terrace welcomes you from the minute you turn off Crawley Road to make your way home. This home is "PRICED TO MOVE"!! This is a great fixer upper and is located in a "Hidden Gem Waterfront" area. Home has strong bones, roof appears to be in good shape. Florida Room has a magnificent water view and was used as a bedroom, with the bonus/sunroom next to it leading into a handicap bathroom. Two of the bathrooms are missing vanities, etc. Septic done within the last 15years. There is a water softener, not currently being used. This home is ready for a face lift and new updates throughout. Take a look at what this property has to offer with a beautiful backyard with a 105 FF waterfront. There is plenty of room for entertainment that includes a covered Gazebo and Dock sitting on .44 acres. Bring your Boat and Fishing Poles to enjoy the fun. Plenty of room for parking includes an attached garage/workshop, attached carport area & driveways. Check out the multi million $$ homes just a few doors down and more being built on Rainbow Lake. You are still within minutes to all the conveniences.Bring your boat, jet skis, kayaks, and fishing poles to enjoy Rainbow Lake (approx. 50 acres) which connects to Little Moon Lake (approx. 12 acres). Gorgeous sunsets, cool breezes and this quiet, rural setting makes everyday feel like a vacation! VALUE IS IN THE LAND