$407,264Average Value$280Average Price per Sq Ft5Homes 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.
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.
Lake Arrowhead has a surface area of approximately 779 acres.
Lake Arrowhead is home to a variety of fish species, including trout, perch, and bass.
There are a few designated swimming areas 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 quaint Cape Cod home is nestled in Lake Arrowhead.
This stately Colonial with a multi-pitched roof can be found in Lake Arrowhead.
Homes are generously spaced apart in 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.
Lake Arrowhead locals can go to Dollar General for quick shopping trips.
Town Hill Grille is close to 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 cares for its students.
Massabesic Middle School serves students in grades 6-8.
Waterboro Elementary School is a public elementary school located in Waterboro, Maine.
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Route 117 runs along Lake Arrowhead.
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.
GreatSchools:
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
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I've lived here for over twenty years, the community has beaches , a pool, and miles of trails. The community also has the best public water available in Maine. If the roads were better I could give 5 star rating.
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Lake Arrowhead Demographics and Home Trends
On average, homes in Lake Arrowhead, Waterboro sell after 16 days on the market compared to the national average of 53 days. The median sale price for homes in Lake Arrowhead, Waterboro over the last 12 months is $395,000, up 7% from the median home sale price over the previous 12 months.
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
The perfect blend of comfort, nature, and community in this lovely 3 bedroom, 2 bath year-round home nestled along a serene channel that leads directly to the main lake.! Hardwood floors, fabulous kitchen w/dining room and small porch for your morning coffee with the birds. Front to back living room, full bath on each floor and tons of storage options with a garage to hold two vehicles or water
READY-TO-BUILD LOT — 58K+ IN IMPROVEMENTS ALREADY DONE!Offered at 105KThis is not your average lot — it's a turn-key, ready-to-build homesite where the seller has already invested over $58,000 so you don't have to! Save time, money, and headaches — this property is truly shovel-ready.✅ 40K - Full lot clearing completed (July 2025)✅ 17K - Active building
WATERBORO, MAINE. 3 Bedroom 1 bath house for rent in Lake Arrowhead community. Rent includes membership to all association amenities including fitness centers, pool, lake access, etc. Large deck, private yard and tons of storage. Tenant pays all utilities besides water. Available asap.No pets1 year leasemust pay security deposit and first months rent prior to moving in
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Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
