218 Rainbow Drive
Woodway, TX 76712
Map
- 4 beds
- 3 baths
- 2,860 sqft
- ~1 acre lot
- $191 per sqft
- 1963 build
- – on site
A Rare Find in the Heart of Woodway! Nestled in a private, wooded setting surrounded by mature trees, scenic walking trails, and not one—but two tranquil private lakes, this exceptional home offers the perfect blend of nature, comfort, and convenience. Set on a beautifully treed one-acre lot, enjoy breathtaking sunrises and sunsets from multiple balconies that wrap around this inviting home. Inside, you'll find a spacious, updated kitchen that opens to the dining and living areas—ideal for hosting family gatherings or entertaining friends. The main floor boasts three generous bedrooms and two full bathrooms, offering comfort and privacy for all. Upstairs, a private bonus room with a full bath provides the flexibility for a home office, guest suite, or creative studio. Additional features include a detached 2-car garage, a large workshop, and direct frontage access to one of the serene lakes—perfect for fishing, kayaking, or simply relaxing by the water. Don’t miss this rare opportunity to own a peaceful retreat just minutes from the conveniences of town. Welcome home to Woodway living at its finest!
Last checked:
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Last updated Jul 2, 2025
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MLS# 20933981 —
The Building
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Year Built:1963
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Structural Style:Single Detached
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Accessibility Features:Accessible Entrance
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Accessibility Features:Yes
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Basement:No
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Levels:Two
Interior
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Interior Features:Eat-in Kitchen, Granite Counters, Kitchen Island, Open Floorplan
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# of Dining Areas:1
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# of Living Areas:1
Room Dimensions
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Living Area:2860.00
Location
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Directions:Hwy 84 toward McGregor to Estate Drive & Hewitt Drive exit. Rainbow Drive is to the right as you exit the ramp. House down on the left
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Latitude:31.50157400
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Longitude:-97.21779800
The Property
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Property Type:Residential
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Property Subtype:Single Family Residence
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Property Attached:Yes
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Parcel Number:362550000055000
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Lot Size:1 to < 3 Acres
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Lot Size SqFt:44431.2000
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Lot Size Acres:1.0200
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Lot Size Area:1.0200
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Lot Size Units:Acres
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Will Subdivide:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Lot:66
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Tax Block:A
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Tax Legal Description:RAINBOW LAKE LOT 66 BLOCK A ACRES 1.02
Beds
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Bedrooms Total:4
Baths
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Total Baths:3.00
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Total Baths:3
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Full Baths:3
The Listing
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Virtual Tour URL Unbranded:https://www.propertypanorama.com/instaview/ntreis/20933981
Utilities
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Utilities:City Sewer, City Water, Electricity Connected, Private Road
Appliances
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Appliances:Dishwasher, Disposal, Electric Range, Electric Water Heater
Schools
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School District:Midway ISD
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Elementary School:Woodway
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Elementary School Name:Woodway
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Middle School Name:River Valley
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High School Name:Midway
The Community
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Subdivision Name:Rainbow Lake
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Pool:No
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Association Type:Mandatory
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Association Fee:350
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Association Fee Includes:Full Use of Facilities
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Association Fee Frequency:Annually
Parking
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Garage:Yes
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Attached Garage:No
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Garage Spaces:2
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Covered Spaces:2
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Parking Features:Additional Parking, Asphalt, Driveway, Garage Door Opener, On Site
Monthly cost estimate
Asking price
$549,000
| Expense | Monthly cost |
|---|---|
|
Mortgage
This calculator is intended for planning and education purposes only. It relies on assumptions and information provided by you regarding your goals, expectations and financial situation, and should not be used as your sole source of information. The output of the tool is not a loan offer or solicitation, nor is it financial or legal advice. |
$2,939
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| Taxes | N/A |
| Insurance | $150 |
| HOA fees | $29 |
| Utilities | $200 See report |
| Total | $3,318/mo.* |
| *This is an estimate |
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Air Pollution Index
Provided by ClearlyEnergy
The air pollution index is calculated by county or urban area using the past three years data. The index ranks the county or urban area on a scale of 0 (best) - 100 (worst) across the United Sates.
