Gorgeous brick home on Rainbow Lake! This stunning property sits on an extensive .65acre lot. Enjoy the spacious open-concept main level, which includes main-level laundry, four bedrooms and two and a half baths. The finished basement now offers a fifth bedroom with a walk-in closet, a newly remodeled 3/4 bath, expansive family room, large storage room, plus a versatile bonus room perfect for a home gym. The sunroom has been completely remodeled with new drywall, flooring, windows, and a mini-split unit for year-round comfort. Additional updates include a mini-split in the garage and new garage door openers in 2025, new fence in 2024, concrete edging in backyard, some new lighting, and a new water heater in 2023. Don't miss this chance to make this gorgeous lakeside retreat your new home-where every day feels like a getaway, with breathtaking lake views and your own incredible beach just steps away.
For sale
$615,000
1506 Rainbow Rd, Grand Island, NE 68801
5beds
2,328sqft
Est.:
Single Family Residence
Built in 1999
0.65 Acres Lot
$-- Zestimate®
$264/sqft
$10/mo HOA
What's special
Gorgeous lakeside retreatFinished basementGorgeous brick homeNew garage door openersNew fenceLarge storage roomMain-level laundry
- 16 days |
- 2,557 |
- 97 |
Likely to sell faster than
Zillow last checked: 7 hours ago
Listing updated: March 29, 2026 at 02:39pm
Listed by:
Megan Goplin,
Keller Williams Heartland
Source: Grand Island BOR,MLS#: 20262267
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 4
- Full bathrooms: 3
- 1/2 bathrooms: 1
- Main level bathrooms: 3
- Main level bedrooms: 4
Primary bedroom
- Level: Main
- Width: 15.41
Bedroom 2
- Level: Main
- Area: 111.78
- Dimensions: 11.28 x 9.91
Bedroom 3
- Level: Main
- Area: 145.12
- Dimensions: 14.93 x 9.72
Bedroom 4
- Level: Basement
- Area: 147.39
- Dimensions: 15.58 x 9.46
Dining room
- Features: Living/Dining Combo, Wood
- Level: Main
- Area: 194.93
- Dimensions: 15.17 x 12.85
Family room
- Features: Carpet
- Level: Basement
- Area: 613.07
- Dimensions: 39.35 x 15.58
Kitchen
- Features: Electric Range, Dishwasher, Garbage Disposal, Refrigerator, Microwave, Eat-in, Wood
- Level: Main
- Area: 189.23
- Dimensions: 12.03 x 15.73
Living room
- Features: Fireplace, Wood
- Level: Main
- Area: 442.89
- Dimensions: 21.03 x 21.06
Office
- Level: Main
- Area: 192.79
- Dimensions: 17.59 x 10.96
Heating
- Gas Forced Air
Cooling
- Central Air
Appliances
- Included: Electric Range, Dishwasher, Disposal, Refrigerator, Microwave, Gas Water Heater, Water Softener Owned
- Laundry: Main Level, Off Kitchen
Features
- Walk-In Closet(s), Master Bath, Sunroom
- Flooring: Wood, Carpet
- Doors: Storm Door(s)
- Windows: Blinds
- Basement: Full,Finished
- Number of fireplaces: 1
- Fireplace features: One, Gas, Living Room
Interior area
- Total structure area: 4,656
- Total interior livable area: 2,328 sqft
- Finished area above ground: 2,328
- Finished area below ground: 2,090
Video & virtual tour
Property
Parking
- Total spaces: 3
- Parking features: 3 Car, Attached, Garage Door Opener
- Attached garage spaces: 3
Features
- Patio & porch: Covered Patio
- Exterior features: Rain Gutters
- Fencing: Vinyl
- On waterfront: Yes
Lot
- Size: 0.65 Acres
- Features: Automatic Sprinkler, Established Yard, Other Landscaping
Details
- Parcel number: 400354780
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Ranch
- Property subtype: Single Family Residence
Materials
- Frame, Brick
- Roof: Composition
Condition
- Year built: 1999
Utilities & green energy
- Water: Well
- Utilities for property: Sewer Connected, Natural Gas Connected, Electricity Connected
Community & HOA
Community
- Security: Smoke Detector(s)
- Subdivision: Rainbow Lake Second Sub
HOA
- Has HOA: Yes
- HOA fee: $10 monthly
Location
- Region: Grand Island
Financial & listing details
- Price per square foot: $264/sqft
- Tax assessed value: $508,156
- Annual tax amount: $6,745
- Date on market: 3/23/2026
- Road surface type: Paved
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 3/23/2026 | Listed for sale | $615,000+12.8%$264/sqft |
Source:  Grand Island BOR #20262267 Report a problem | ||
| 7/28/2023 | Sold | $545,000$234/sqft |
Source: Grand Island BOR #20230580 Report a problem | ||
| 6/25/2023 | Pending sale | $545,000$234/sqft |
Source: Grand Island BOR #20230580 Report a problem | ||
| 6/19/2023 | Listed for sale | $545,000$234/sqft |
Source: Grand Island BOR #20230580 Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $6,746 +0.4% | $508,156 +4.6% |
| 2024 | $6,721 -22.4% | $485,615 -1.8% |
| 2023 | $8,657 +30.5% | $494,631 +43.8% |
| 2022 | $6,636 -1.3% | $343,875 |
| 2021 | $6,726 -9.7% | $343,875 -3.2% |
| 2020 | $7,445 +0.2% | $355,275 |
| 2018 | $7,429 +4.4% | $355,275 +42.8% |
| 2016 | $7,117 +42.4% | $248,800 |
| 2015 | $4,998 -1.5% | $248,800 |
| 2014 | $5,073 +7.3% | $248,800 +8.2% |
| 2013 | $4,727 -0.6% | $230,018 |
| 2012 | $4,753 +19.5% | $230,018 |
| 2011 | $3,977 +1% | $230,018 |
| 2010 | $3,939 -3.4% | $230,018 |
| 2009 | $4,079 | $230,018 |
Find assessor info on the county website
Monthly payment
Est. payment
$3,884/mo
Principal & interest
$3172
Property taxes
$702
HOA Fees
$10
More affordability tools
Climate risks
Neighborhood: 68801
Nearby schools
GreatSchools rating
- 7/10Cedar Hollow SchoolGrades: PK-8Distance: 3.9 mi
- 7/10Northwest High SchoolGrades: 9-12Distance: 5.5 mi
Schools provided by the listing agent
- Elementary: Stolley Park
- Middle: Barr Middle School
- High: Grand Island Senior High
Source: Grand Island BOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
Local experts in 68801
- Nebraska
- Hall County
- Grand Island
- 68801
- 1506 Rainbow Rd
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