Rainbow Lakes Estates Homes under $350,000

Rainbow Lakes Estates Homes under $350,000

Welcome to Rainbow Lakes Estates, a hidden gem nestled in the heart of Dunnellon, Florida! This charming subdivision is the perfect blend of natural beauty and community spirit, making it an ideal choice for families, retirees, and anyone looking to enjoy the serene Florida lifestyle.

Rainbow Lakes Estates is characterized by its picturesque landscapes, featuring lush greenery, tranquil lakes, and abundant wildlife. Residents here enjoy a peaceful atmosphere with plenty of opportunities for outdoor activities. Whether you’re fishing, kayaking, or simply taking a leisurely stroll through the scenic trails, you’ll find that nature is just a step away from your front door.

One of the most appealing aspects of Rainbow Lakes Estates is the affordability of homes in the area. With a range of beautiful properties available for under $350,000, this subdivision offers excellent value for those looking to invest in their dream home. From cozy single-family residences to spacious lots perfect for building your custom retreat, there’s something for everyone in this vibrant community.

The neighborhood is also conveniently located near essential amenities, including shopping centers, schools, and healthcare facilities, ensuring that all your needs are met without sacrificing the tranquility of rural living.

Experience the charm and warmth of Rainbow Lakes Estates, where your ideal home awaits. Embrace the opportunity to create lasting memories in a community that truly feels like home. Come discover the beauty of Dunnellon, and let your journey to homeownership begin today!

Newest Rainbow Lakes Estates Homes under $350,000

4717 Sw South Water Court, Dunnellon
$204,900
2 Beds ⋅ 1 Baths ⋅ Rainbow Lakes Estates SubDv. ⋅ 34431 Zip Code
Under Construction. Welcome to this newly constructed Craftsman-style bungalow, where cozy living meets timeless character. A fresh take on a classic home style, it offers the warmth of bungalow living and the appeal of a brand-new build. Whether you’re starting your next chapter or looking to simplify, this inviting home proves that elevated living doesn’t have to mean a larger footprint. Smaller in scale but big on charm- come discover a place you’ll love to call home. The second picture is a rendering of completed exterior look. The Bungalow will have upgraded vertical vinyl black siding all around.

4717 Sw South Water Court, Dunnellon
21521 Sw Marine Boulevard, Dunnellon
$340,000
4 Beds ⋅ 2 Baths ⋅ Rainbow Lakes Estates SubDv. ⋅ 34431 Zip Code
Under Construction. The street is PAVED, the front door is 8 foot, the LOT is LARGE 0.99 ACRES and the SELLER will entertain a closing cost CREDIT on this property at closing, speak with agent for details! Let that help you enjoy this beautiful, brand new 2187 sq ft 4 bed, 2 bath home on this peaceful acre of property. Interior ceilings over 9 feet throughput create a bright and open home. The kitchen features a large center island with granite countertop, WH!TE shaker cabinets as well as stainless steel appliances and spacious pantry. Large master bedroom includes an over-sized walk-in closet, his and hers granite top vanity with dual sinks and fully tiled walk-in shower. Three additional bedrooms allow for growing family or needed office space. Guest bath also features granite countertop, wood cabinets and dual sinks. Ask us how to get a free washer and dryer to complete this perfect family home? No HOA worries. Property sits on a paved road. Plenty of room for auxiliary shop/shed buildings, pool installation, or RV storage and plenty of family fun!

21521 Sw Marine Boulevard, Dunnellon
21234 Sw Raintree Street, Dunnellon
$199,900
3 Beds ⋅ 1 Baths ⋅ Rainbow Lakes Estates SubDv. ⋅ 34431 Zip Code
Move-in ready and refreshed from top to bottom! This well-kept 3-bedroom, 1-bath home in Dunnellon offers 1,102 sq. ft. of living space with several the big-ticket updates already taken care of. The roof was replaced in 2018, and a brand-new electrical panel was installed in 2026. Fresh interior and exterior paint along with newer flooring throughout give the home a clean, updated feel that's ready for its new owners. Enjoy Florida living with plenty of outdoor space, including a screened back porch and two additional side porches, perfect for relaxing and enjoying the outdoors. Conveniently located near Dunnellon's beautiful springs, rivers, and outdoor recreation while still offering easy access to Ocala for shopping, dining, and everyday conveniences. A quick drive to the Gulf to enjoy springs and coastal opportunities. Whether you're looking for your first home, downsizing, or searching for an investment property, this home offers an affordable opportunity with many of the updates already complete. Schedule your showing and come take a look!

21234 Sw Raintree Street, Dunnellon
21617 Sw Peach Blossom Street, Dunnellon
$199,999
3 Beds ⋅ 2 Baths ⋅ Rainbow Lakes Estates SubDv. ⋅ 34431 Zip Code
Welcome to Rainbow Lakes Estates — NO HOA and NO flood zone! This home offers 3 bedrooms, 2 full bathrooms, a 1-car garage, and a functional open floor plan designed for comfortable everyday living. Enjoy additional living space in the screened lanai, perfect for relaxing with your morning coffee or entertaining guests while overlooking the oversized fully fenced yard with mature trees that provide privacy and shade. ***Whether you're searching for a full-time residence, seasonal retreat, or investment property, this home offers affordability and flexibility in a growing area. *** Located in desirable Rainbow Lakes Estates, residents enjoy access to a clubhouse, fitness center, Sea Cliff Community Park, and Bonable Lake with access to Tiger Lake. Outdoor enthusiasts will love being just minutes from Rainbow River and Rainbow Springs State Park, where you can kayak from KP Hole, explore scenic trails, and experience Florida’s natural beauty. Dunnellon’s charming historic downtown offers local dining, shopping, and community events. Golfers will appreciate proximity to Juliette Falls Golf Club, and the World Equestrian Center in Ocala is approximately 15 minutes away. Convenient access to Crystal River, the Gulf Coast, and Central Florida attractions adds even more appeal.*** Schedule your private showing today and discover living the Rainbow River Life.

21617 Sw Peach Blossom Street, Dunnellon
21570 Sw Raintree Street, Dunnellon
$179,000
2 Beds ⋅ 2 Baths ⋅ Rainbow Lakes Estates SubDv. ⋅ 34431 Zip Code
**BEAUTIFUL 2 BEDROOM 1.5 BATHROOM HOME ON .24 ACRE LOT LOCATED IN GROWING SUBDIVISION OF RAINBOW LAKES ESTATES **NO HOA!!**- THIS HOME HAS NEW BATHROOM, NEW FLOORING, NEW WINDOWS AND NEWER HVAC. ADDITIONAL ROOM ADDED IN BACK COULD BE THIRD BEDROOM. THIS IS A GREAT STARTER HOME OR GREAT INVESTMENT PROPERTY FOR RENTAL INCOME. CONVENIENTLY LOCATED NEAR DUNNELLON, OCALA AND CRYSTAL RIVER. PRIVATE BOAT RAMP AVAILABLE FOR RAINBOW LAKES ESTATES RESIDENTS FOR TIGER LAKE. MINUTES FROM THE CRYSTAL CLEAR RAINBOW RIVER AND STATE PARK OR ENJOY SOME OF THE BEST FISHING IN FLORIDA ON LAKE ROUSSEAU. NOT A WATER PERSON, THERE'S HIKING, BICYCLING AND HORSE BACK RIDING ON THE WITHLACOOCHEE TRAIL OR GOETHE STATE FOREST. DESIRABLE QUIET COUNTRY SETTING CLOSE TO SHOPPING, RESTAURANTS AND ENTERTAINMENT. **COME MAKE THIS YOUR DREAM HOME!!! **INVESTORS DON'T MISS THIS OPPORTUNITY!!!

21570 Sw Raintree Street, Dunnellon
21332 Sw Rainbow Lakes Boulevard, Dunnellon
$184,250
2 Beds ⋅ 1 Baths ⋅ Rainbow Lakes Estates SubDv. ⋅ 34431 Zip Code
Wonderful 2 Bedroom/1 Bath, Well-Maintained, Move-in Ready Home with Carport and BONUS Room. This home is situated on a Spacious 1/2 ACRE LOT. The Home Sits on a 1/4 Acre and there is an Adjacent 1/4 Lot INCLUDED IN THE SALE (Each Lot is 0.24 Acres so Total is 0.48 Acres). Use your Vacant Adjacent Lot to build another home for investment or for a family member or if you wish, keep it just the way it is allowing you more space and privacy. The Home has a Newer Roof (2018) and a Newer A/C (2020). As you enter the home you are greeted by a bright and spacious Living Room which leads into a useful, functional Kitchen with sufficient Cabinets and Counter space. Continue on thru the Kitchen to the covered and Screened-In Back Patio which would be great for enjoying delicious meals and relaxing and entertaining family and friends enjoying the great Florida lifestyle! The Bedrooms are a comfortable size, and both Bedrooms share the updated Bathroom. Use the BONUS ROOM for whatever fits yours needs, maybe a 3rd Bedroom, Exercise Room or Office/Den. There is also a good size inside Utility Room. The 2 Sheds are also included in the purchase (Shed to the back of the property and the shed right outside the screened-in patio). The Community of Rainbow Lake Estates features 2 Playgrounds, Bonable Lake with a Fishing Pier, Tiger Lake with its own Boat Ramp, Exercise Room, Community Center, Basketball and Tennis Court. Convenient to the town of Dunnellon and the Historic District, great for Antique shops, Restaurants, Grocery shopping, Ocala, Crystal River, Gulf Coast, Withlacoochee River and Lake Rousseau where you can enjoy Fishing for Large Mouth Bass, World Equestrian Center and the Crystal-Clear waters of Rainbow Springs State Park where you can enjoy Kayaking, Tubing, Canoeing, Snorkeling and Picnicking. Come claim your piece of Paradise!!

21332 Sw Rainbow Lakes Boulevard, Dunnellon
24492 Nw Hemlock Avenue, Dunnellon
$242,900
3 Beds ⋅ 2 Baths ⋅ Rainbow Lakes Estates SubDv. ⋅ 34431 Zip Code
Under Construction. Under Construction. BRAND NEW CONCRETE BLOCK HOME RARE OPPORTUNITY: Pictures are from previous model. Seize this unique chance to own a stunning home beautifully situated on a .24-acre lot Estimated completion is approximately November 15. Not all new construction is created equal. Built with durable CONCRETE BLOCK construction and featuring VAULTED CEILINGS, this home combines long-lasting quality with elevated design. The OPEN, SPLIT FLOOR PLAN flows seamlessly with LVP flooring throughout (no carpet here), delivering a clean, modern aesthetic. The kitchen and bathrooms are adorned with QUARTZ COUNTERTOPS, white shaker-style soft-close cabinets, and STAINLESS-STEEL appliances. The primary suite boasts a large walk-in closet and a beautifully TILED SHOWER WITH A GLASS ENCLOSURE—no fiberglass or acrylic inserts here. The second bathroom features a tub shower surrounded by DESIGNER TILE, adding a polished, upscale touch to every detail. With NO HOA, you’ll have the freedom to make this expansive property truly your own. Located just 15 minutes from downtown Dunnellon and 10 minutes from Rainbow Springs State Park, you’re close to kayaking, swimming, diving, and fishing. The nearby Rainbow Lakes Community Center offers tennis courts, racquetball, basketball, a baseball field, and a playground. Tiger Lake, with its public boat ramp, is also just minutes away.

24492 Nw Hemlock Avenue, Dunnellon
1057 Sw Timberlake Road, Dunnellon
$259,900
3 Beds ⋅ 2 Baths ⋅ Rainbow Lakes Estates SubDv. ⋅ 34431 Zip Code
Virtually Staged. Under Construction. " Virtually Staged "Welcome to Rainbow Lakes Estates a highly sought after community in Dunnellon. This BRAND NEW Shamrock Construction home the "Lynette". This home is a solid block construction featuring 3 bedroom and 2 bathroom with a spacious 2 car garage. This floor plan is designed with luxury vinyl wood flooring throughout, Granite Countertops in the kitchen and baths, ceiling fans, Stainless Steel Appliances including the refrigerator, and wood cabinets. Best Part is there is NO HOA and a full 1 Year Builder Warranty and 10 Year Structural Warranty.

1057 Sw Timberlake Road, Dunnellon
1135 Sw Shorewood Drive, Dunnellon
$162,000
3 Beds ⋅ 2 Baths ⋅ Rainbow Lakes Estates SubDv. ⋅ 34431 Zip Code
3/2 across from the lake home. Features fireplace and fish pond. She in back has A/C. Being sold as is with right to inspect. Needs some work.

1135 Sw Shorewood Drive, Dunnellon
4500 Sw Freshwater Court, Dunnellon
$265,000
2 Beds ⋅ 3 Baths ⋅ Rainbow Lakes Estates SubDv. ⋅ 34431 Zip Code
Beautifully updated 2-bedroom, 2.5-bath home on a spacious 0.62-acre lot in desirable Rainbow Lakes Estates! This move-in-ready home offers 1,388 square feet of comfortable living space and has been thoughtfully updated with a new roof (2022), HVAC (2021), energy-efficient windows (2019–2021), screened lanai (2022), and brand-new kitchen appliances (2025). Den can be turned into a 3rd bedroom. The beautifully landscaped perennial gardens (2024–2026) provide exceptional curb appeal and year-round color. Outside, you'll also find a 20' shipping container, carport, and storage shed, offering plenty of room for hobbies, tools, or extra storage. Enjoy the relaxed Florida lifestyle with access to Rainbow Lakes Estates' clubhouse, fitness center, parks, playgrounds, tennis courts, fishing pier, and boat ramps on both Lake Bonable and Lake Tiger, perfect for fishing, kayaking, canoeing, and enjoying the outdoors. Conveniently located just minutes from Rainbow Springs State Park and the crystal-clear Rainbow River, and within easy driving distance of the World Equestrian Center, historic downtown Dunnellon, Ocala, Gainesville, Crystal River, and Florida's Gulf Coast, this home offers the perfect combination of modern updates, outdoor recreation, and small-town charm. USDA financing may be available for qualified buyers.

4500 Sw Freshwater Court, Dunnellon
19655 Sw Beach Blvd, Dunnellon
$340,000
3 Beds ⋅ 3 Baths ⋅ Rainbow Lakes Estates SubDv. ⋅ 34431 Zip Code
Pre-Construction. To be built. Brand-new construction opportunity in Dunnellon located in the desirable Rainbow Lakes Estates area! This future home will feature 3 bedrooms, 2 full bathrooms, and 1 half bath with modern finishes and a thoughtfully designed layout. Construction has not yet begun, giving buyers the opportunity to secure the property early. Estimated completion is approximately 3–4 months from contract date. A great chance to own a completely new home in a growing area.

19655 Sw Beach Blvd, Dunnellon
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