$419,502Average 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 55 days. The median sale price for homes in Lake Arrowhead, ME over the last 12 months is $405,000, down 4% from the median home sale price over the previous 12 months.
MOVE IN READY IN LAKE ARROWHEAD- PRICED UNDER 400,000!If you have been searching for a home where the work has already been done, 3 Division Road desearves your attention. This fully renovated 3-bedroom, 1.5-bath home offers the feel of new construction with the charm of Maine living.Set on a generous lot, this home has been thoughtfully transformed with a new roof, siding, heating
Proposed estimated 8 acre subdivision with the opportunity for 8 house lots. Access if from New Dam rd by a nice flat gravel road. Homes can have access to Lake Arrowhead for recreation. This is not a part of an association. Selling is willing to offer creative financing to help developers get started. Approvals have expired and will need reapproval. This listing is a part of MLS #1609318
Enjoy 11 acres of undeveloped waterfront on Lake Arrowhead. This parcel has an elevated rear section and then gradually slopes down to an even surface along the water. You may decide to develop homes on the land or keep the lot private for yourself. The land comes with a large peninsula and a pristine cove shaped beach. You may decide to purchase the home at 138 Fairview Drive to give you private
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
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
Welcome to 135 Fairview Drive in North Waterboro, a charming 4-bedroom, 2-bath Cape nestled in the desirable Lake Arrowhead Community. Offering over 1,500 square feet of living space, this inviting home features a comfortable and functional floor plan, first-floor laundry, a primary bedroom with private bath, and a bright kitchen with sliding doors leading to a spacious back deck--perfect for
Janice Pompe John LesserThe Maine Real Estate Group
What a great spot! Not a lot of development on this road yet. Build your dream home in the Lake Arrowhead Association and you will have access to amenities such as: beaches, pools, clubhouses and even a fitness center. Association fee listed is for an undeveloped lot. A house lot is $1,333 annually. This is a Tax-Acquired property. Offers due September 15th at noon.
Welcome to Lake Arrowhead Community. A one of a kind property that sits overlooking the lake. Enjoy the sunrises and sunsets from the dock, sunroom or outside patio area while listening to the Maine loons. Well sought after community offers clubhouse with workout room, pools and tennis courts. A quick weekend drive will have you sitting by the water in no time. This home has 2 full bedrooms, and
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
Nestled on a private wooded lot in the Lake Arrowhead Community, this well maintained 3 bedroom, 3 bathroom home offers the perfect balance of comfort, flexibility, and outdoor living. The main level features a spacious kitchen with granite countertops, ample cabinetry, a sunny breakfast nook, a formal dining area, and an inviting living room with a cozy gas fireplace. Sliding glass doors open to
Your Dream home starts here with a fully permitted, build-ready double lot. This Property is already permitted for a 50' x 28' ranch-style home featuring 3 bedrooms, 2 bathrooms, and a drive under two-car garage. Located in the desirable Lake Arrowhead Community, the property offers the perfect balance of privacy, recreation, and convenience. Enjoy access to private beaches, a clubhouse, fitness
Summer isn't over - here's your opportunity to snag a gem of a home with access to Lake Arrowhead! This 3 bed/1 bath, year-round raised ranch seamlessly blends interior comfort with immersion into Maine's great outdoors. Soak in the peacefulness of the woods via the expansive rear deck and the quietness that accompanies living on a dead-end street. The main level's open floorplan encourages a
MOVE IN READY IN LAKE ARROWHEAD- PRICED UNDER 400,000!If you have been searching for a home where the work has already been done, 3 Division Road desearves your attention. This fully renovated 3-bedroom, 1.5-bath home offers the feel of new construction with the charm of Maine living.Set on a generous lot, this home has been thoughtfully transformed with a new roof, siding, heating
Spacious 4-Bedroom Home with Lake Arrowhead AccessWelcome to this spacious 4-bedroom home offering convenient access to Lake Arrowhead. This property provides a great combination of comfort, space, and access to the outdoors, making it an excellent opportunity for those looking to enjoy a peaceful residential setting while being close to the lake.The home features four generously
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