$404,988Average Value$301Average Price per Sq Ft0Homes For Sale
From recreation to residency
Lake Arrowhead is a sprawling subdivision centered around the freshwater lake of the same name, which spans about 779 acres between the small Maine towns of Limerick and Waterboro. There are about 2,800 residents, all of whom enjoy community perks such as private beaches, waterfront access and clubhouses with recreational spaces and fitness rooms. “Lake Arrowhead is pretty unique,” says Realtor Aaron Chadbourne with Demetria Real Estate, who has worked in the area for over 20 years. “It’s the largest subdivision in Maine, and it’s done around community elements. It’s things that you wouldn’t find elsewhere.” The surrounding towns offer plenty of restaurants and shops for locals to explore, and many will make the 32-mile drive into Portland for work or a night out.
Lake Arrowhead is partially located in the town of Limerick.
Lake Arrowhead has a population of over 3,000 people.
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Waterfront fun and community perks
With backyard docks and private beaches along the shore, it is no surprise that residents spend a lot of their time on Lake Arrowhead. The shallow depths of this artificial offshoot of the Ossipee River make it ideal for kayaking, and anglers can find a variety of fish, including largemouth bass and brown trout. “There’s also winter recreation,” Chadbourne says. “People will snowmobile and go ice fishing.” Members of Lake Arrowhead also have access to two clubhouses, one in Limerick and one in Waterboro. Both include an indoor pool, and the Limerick location has a gym, while the Waterboro location features games such as pool, ping pong and air hockey. There are several preserves around the community, with trails winding through Dragonfly Island and Monaco Island.
Beachgoers recreate on the shore of Lake Arrowhead.
A family enjoys a summer day at Lake Arrowhead.
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Homes designed around the lake
The community was designed around the lake, with streets weaving through towering pines and spruces. Homes typically sit on about half an acre of land, although larger, 2-acre plots are scattered throughout the neighborhood. Many waterfront residents have private docks in their backyards, making getting out on the lake easy. Homes date back to the 1980s, with Cape Cods and ranch styles mixed in with new traditional houses and colonials. “You tend to see a two- or three-bedroom, but there are some larger places with views of the water,” Chadbourne says. Prices tend to range between $225,000 and $600,000, with homes near the lake costing more. Homeowners association fees can cost around $120 a month. With several undeveloped lots available, Chadbourne says, “there’s new construction going on all the time.” Half an acre can cost about $30,000, while 1 acre is about $150,000. Lake Arrowhead receives a low CAP Index Crime Score of one out of 10, compared to the national average of four out of 10.
This modern Colonial with a porch is in Lake Arrowhead.
This contemporary home blends in at Lake Arrowhead.
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Community events and town celebrations
The neighborhood is constantly hosting community events for its residents. During the warmer months, folks can gather for an ice cream party, while the colder months can create a competitive edge with the Holiday Lights Contest. The surrounding towns also have celebrations throughout the year, including Christmas in Limerick, with a tree-lighting ceremony, and Hollis Community Day in August.
Flood insurance recommended for Lake Arrowhead
While most of the neighborhood has almost no risk of flooding, the Federal Emergency Management Agency says that properties closer to the shore have a 26% chance of flooding over a 30-year mortgage. Flood insurance is recommended for all homeowners in the area and required for anyone with a federally backed mortgage.
Locally owned restaurants in nearby towns
The community is surrounded by small towns with locally owned restaurants, ranging from The Peppermill Restaurant, with views of Sokokis Lake, the casual Town Hill Grille in Limerick and the farm-to-table Oak & Ember in Buxton. Residents can get their groceries from the Limerick Supermarket or the Hannaford in Waterboro. Target, Walmart and Lowe’s are all about 20 miles away. Portland is about 32 miles away, but Chadbourne says that residents will sometimes make the drive if they want a night out.
Town Hill Grill is in nearby Lake Arrowhead.
Limerick Supermarket serves Lake Arrowhead.
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Massabesic High focuses on community service
As part of the Maine Administrative School District 57, students can start at Waterboro Elementary School, which earns a B-minus from Niche, before attending Massabesic Middle School, which receives a C-plus, and the C-minus-rated Massabesic High School, where students are required to complete 25 hours of community service over four years in order to graduate.
Massabesic High School serves students 9-12th grade.
Massabesic High School has a large track and field.
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Route 117 offers easy commute to Portland
Lake Arrowhead is largely car-dependent, with state Route 117 just outside the neighborhood and connecting to Portland. Most people fly out of Portland International Jetport, about 26 miles away, and the nearest emergency room is at the Biddeford location of the Maine Medical Center, about 22 miles away.
The Lake Arrowhead neighborhood is a popular destination for outdoor recreation.
Route 117 runs along Lake Arrowhead.
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Photography Contributed By
Jeff Tippett
Video By
Kevyn Harris
Interested in learning more about homes in this area?
Reach out to
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an experienced agent in this area.
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On average, homes in Lake Arrowhead, ME sell after 2 days on the market compared to the national average of 56 days. The median sale price for homes in Lake Arrowhead, ME over the last 12 months is $405,000, down 3% from the median home sale price over the previous 12 months.
Welcome to this well-kept 3-bedroom, 2-bath Cape located in the desirable Lake Arrowhead Community. Built in 2003, this home offers a bright, functional layout with a sun-filled living room, spacious kitchen with stainless steel appliances, updated bath, and easy flow for everyday living. A full basement provides excellent storage and future potential, while the backyard offers room to relax,
Welcome to this spacious and inviting 3-4 bedroom Cape Cod style home, perfectly situated within the sought-after Lake Arrowhead Community. Offering 11⁄2 baths and a flexible floor plan, this home provides plenty of room to grow, work, and relax. The updated kitchen features newer appliances and modern touches, making it both functional and stylish--ideal for everyday living and entertaining. A
This is a rare opportunity to acquire 54 acres of prime, development-stage lakefrontproperty with engineered lot layout, power infrastructure, and conceptual roadwaysalready in place. Situated on the pristine shores of Lake Arrowhead in Waterboro, Maine,this property offers unmatched privacy, waterfront access, and long-term value in a high-demand region. Flexible Deal
Your dream home starts here. This beautiful 1.82-acre lot in the sought-after Lake Arrowhead community presents a rare opportunity to build the home you've always envisioned, surrounded by the natural beauty of Maine. With multiple beach access points, including one directly across the street, lakeside living is right at your doorstep.Lake Arrowhead is a vibrant, amenity-rich community. Two
Welcome to this well-kept 3-bedroom, 2-bath Cape located in the desirable Lake Arrowhead Community. Built in 2003, this home offers a bright, functional layout with a sun-filled living room, spacious kitchen with stainless steel appliances, updated bath, and easy flow for everyday living. A full basement provides excellent storage and future potential, while the backyard offers room to relax,
Welcome to this spacious and inviting 3-4 bedroom Cape Cod style home, perfectly situated within the sought-after Lake Arrowhead Community. Offering 11⁄2 baths and a flexible floor plan, this home provides plenty of room to grow, work, and relax. The updated kitchen features newer appliances and modern touches, making it both functional and stylish--ideal for everyday living and entertaining. A
Nature enthusiasts take notice!! Peace, serenity, and Lake Arrowhead awaits you! This is a great opportunity to get into an established and much desired neighborhood that is walking distance to Lake Arrowhead. Situated on a triple lot, the home features a newer kitchen, with an enclosed porch. Bedrooms are on the main floor, with a bonus room in the basement awaiting your finishing touches.
OPEN HOUSE SATURDAY 11-1 LAKEFRONT LIVING in this very well-maintained ranch style home on over 680 feet on Lake Arrowhead! Three beds, 1.5 baths and so much more. Open concept Kit/Liv/Din with cathedral ceilings. Large carport, on demand generator, and metal roof are just some of the upgrades. Family/game room in lower level and walkout right to the dock. Fish, swim and boat from your dock in
Welcome to this new, thoughtfully designed ranch in the Lake Arrowhead community--where easy one-level living meets year-round recreation. Built in 2024, this home offers 3 bedrooms, 1.5 baths, and an open, functional layout designed for modern living. The spacious kitchen flows seamlessly into the living area, creating a comfortable space for everyday life and entertaining alike. With all
Discover the perfect balance of privacy and community with this exceptional 10.75-acre parcel nestled within the highly sought-after Lake Arrowhead Community in Limerick. Offering a rare opportunity to own a large, wooded homesite in a well-established residential association, this L-shaped lot provides flexibility and freedom to design your ideal retreat. With generous road frontage, you have
Lakefront cottage with fabulous waterfront! Beautiful gently sloping lot to the water with 112 ft of owned frontage. Come enjoy the loons, eagles, great swimming and fish off your dock. Three beds, 1.5 baths. Primary bedroom offers half bath. Pellet stove, walk out basement and a screened in porch where morning coffee tastes better! Huge rear yard on the lake is perfect for all your summer
A Home for the Ages -- Where Contemporary Comfort Meets Timeless Design, Welcome to this stunning 4-bedroom, 3 full bath contemporary home, thoughtfully designed with modern conveniences and built for effortless living in every season. From the moment you step inside, you'll appreciate the warmth and comfort of radiant heated floors extending throughout the entire home -- and even into the 3-car
Rare opportunity to own five combined waterfront lots (Lot#1003, 1004, 1004A, 1005, 1006) with nearly 300 feet of frontage on Lake Arrowhead. This unique parcel within the Lake Arrowhead Community offers exceptional privacy, flexibility, and breathtaking unobstructed water views. The land directly across the water is protected and cannot be developed, ensuring that your peaceful lake views remain
Opportunity knocks! This 3 bedroom, 2 bath home built in 1999 is perfectly positioned in a highly desirable location, offering convenience, accessibility, and strong long term value. With great bones and a functional layout, this property is ready for someone with vision to bring it back to life. Priced well below market value, this is your chance to build instant sweat equity and create the home
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