SECOND CHANCES DON'T HAPPEN OFTEN! Here is your opportunity! Completely reimagined from top to bottom, this beautifully renovated home blends classic New England Cape charm with extensive modern updates. Every detail has been thoughtfully completed, creating a home that's as functional as it is inviting. Step inside through the brand-new entryway, complete with laundry and generous closet space, before discovering a bright, welcoming interior finished with new luxury bamboo vinyl plank flooring, refinished hardwood floors, fresh paint, updated lighting, new plumbing and custom built-ins that add both character and functionality. The new kitchen features brand-new cabinetry, butcher block countertops, a farmhouse sink overlooking the peaceful backyard and open field, and stainless steel appliances. The improvements continue throughout with two completely renovated bathrooms, select new windows, new exterior doors, updated electrical and light fixtures, a high-efficiency furnace, and a hybrid hot water heater, giving you the confidence that the major work has already been done. Outside is where this property truly shines. The rear deck overlooks open fields, creating the perfect backdrop. Just steps away, the fire pit patio is surrounded by mature hostas and thoughtfully landscaped gardens, offering a private outdoor space just 3 miles from town. You'll enjoy easy access to shopping, restaurants, healthcare, and everyday conveniences while still feeling tucked away. Even better, you're at the gateway to Maine's Woods, where endless opportunities for hunting, fishing, hiking, ATV and snowmobile trails, and outdoor adventure are all within easy reach. If you've been searching for a home where the work has already been done, 394 Lakewood Road delivers. Thoughtfully renovated, beautifully finished, and set on a picturesque 1+ acre lot, this is a must see.
1960's Dormered Cape Cod style home offers 4 bedrooms and living room with wood floors. This four-bedroom, two-bathroom 1482 SQ. FT. home offers substantial investment potential with 2 bedrooms and a full bath on each level. The enclosed rear porch serves as a quiet respite from the eat-in kitchen where you can savor your morning coffee while taking in views of your backyard. An added bonus the porch expands your living area and creates an entertainment area for guests. Private utilities. Full basement under main home with interior and exterior access. Footprint for a potential one car garage. Minutes to Skowhegan amenities and just 20 miles from Waterville, its hospital, Colby and Thomas Colleges and the I-95 Corridor. Recreational opportunities are in your proverbial backyard. The home's potential charm combined with its improvement potential creates multiple pathways to increase equity. Whether seeking a personal residence or a strategic investment, this home delivers compelling value.
Year
Property tax
Land + Additions
Assessment*
2025
$3,534 (+22.6%)
$54,300 + $192,800
$247,100
2024
$2,882 (+11.2%)
$48,600 + $130,400
$179,000
2023
$2,592 (+10.5%)
$41,800 + $113,400
$155,200
2022
$2,346 (+0.2%)
$33,400 + $92,800
$126,200
2021
$2,342 (−5.2%)
$32,000 + $88,600
$120,600
2020
$2,471
$32,000 + $84,300
$116,300
2019
$2,471 (−1.2%)
$32,000 + $84,300
$116,300
2018
$2,500
$32,000 + $84,300
$116,300
2017
$2,500 (+0.4%)
$32,000 + $84,300
$116,300
2016
$2,491 (+7.7%)
$34,300 + $84,300
$118,600
2015
$2,313
$34,300 + $84,300
$118,600
2014
$2,313 (+11.3%)
$34,300 + $84,300
$118,600
2013
$2,079
$34,300 + $84,300
$118,600
Public record
Beds
4
Baths
2
Stories
2
Lot width
—
Lot depth
—
Lot size
1.09 Acres
Year renovated
—
Finished Sq. Ft.
1,482
Unfinished Sq. Ft.
—
Total Sq. Ft.
1,482
Year built
1965
Style
Multi-Family (2-4 Unit)
County
Somerset County
APN
510010
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 27, 2026.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
2/10 Heat Factor
7 days above 90° expected this year, 14 days in 30 years
4/10 Wind Factor
10% chance of strong winds in next 30 years
1/10 Air Factor
0 unhealthy days expected this year, 0 days in 30 years
Provided by First Street
Historical weather
Madison, ME • 04950
Average low and high temperatures (°F)
26
9
30
9
42
24
53
35
64
45
76
56
81
61
81
54
73
50
61
40
45
31
31
14
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
91/ 100
Exceptional sunlight
Sunscore
This home receives average direct sun exposure in Madison. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.3 hrs
5.6 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 394 Lakewood Rd
$307,352
$9,548 under list price of $317K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $248K to $375K.