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137 Mill Pond Road
About This Property
Designed for a future home with level-entry access, the lot is ideally positioned so the primary living spaces can take full advantage of golden-hour sunsets over the lake-a truly special and increasingly rare perspective in Lake Arrowhead.
Mill Pond is a high-caliber, gated enclave known for commanding premium values on new construction. Residents enjoy underground utilities, high-speed internet, maintained private roads, common green space -all within a serene, architecturally refined setting. The lot has been recently surveyed, making property boundaries easy to identify and simplifying the building process.
One of the most compelling features of this property is its unmatched location-just minutes from Lake Arrowhead Village, the Marina, lakeside trails, and dining, offering a lifestyle that blends privacy with convenience. Lots with this level of view and village access are exceptionally limited.
The property lies within the lake rights boundary, providing access to Lake Arrowhead and its amenities, while also being moments from the National Forest, ideal for hiking and outdoor recreation.
Adding to its appeal, this lot is not governed by the Arrowhead Woods Architectural Committee, offering greater design flexibility under Mill Pond's unique CC&Rs-an uncommon advantage for buyers seeking architectural freedom.
A truly rare opportunity to create a legacy mountain home in one of Lake Arrowhead's most desirable and tightly held communities.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 3, 2026 | Price Decreased |
$275,000
↓ $24K
(8%) | |
| Price Decreased | |||
| Jan 30, 2026 | Listed by COLDWELL BANKER SKY RIDGE REALTY | $299,000 | |
| Listed by COLDWELL BANKER SKY RIDGE REALTY | |||
| Jun 16, 2025 | Sold | ||
| Sold | |||
| May 19, 2025 | In contract | - | |
| In contract | |||
| Feb 13, 2025 | Listed by Windermere Real Estate | $250,000 | |
| Listed by Windermere Real Estate | |||
| | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017