Multiple swift-water rescues were conducted to reach people in the area who were trapped by the rapidly rising flood.
Police placed Bluewater under a safety and preservation declaration, urging residents to avoid the area until it is safe to return.
Late on Wednesday, SES northern regional manager Daryl Camp told the ABC they were still checking on trapped residents.
"All the people we know about in Toolakea and Bluewater have been helped," he said.
Bluewater recorded 187 millimetres of rain over a four-hour period on Wednesday.
Upper Black River to the west of Townsville has received falls of more than 200mm since 9:00am.
The Bureau of Meteorology said significant flash flooding was occurring after intense thunderstorms around Toolakea, Bluewater and Upper Black River.
Twenty Queensland Fire and Emergency Service (QFES) Swiftwater and SES flood boats went door-to-door along Forestry Road at Bluewater.
Hervey Range resident Sue Atkins has lived on the bank of the Black River for 14 years and said she had never seen so much rain.
"We've never seen anything like it. It's broken its banks on the other side to us," she said.
"It's just covered in water. We've seen cattle tyring to swim up it and go back again."
Ms Atkins has had 230mm of rain since 9am and more than 600mm in the last two days.

"We're just watching all the trees and things running down the river here."
Cath McLellan, whose property overlooks Bluewater Creek, said the rainfall was "crazy".
"From 6:30 this morning we had 300mm in six hours. Huge rain," Ms McLellan said.
That rainfall was on top of 439mm recorded since Saturday.
"We are lucky as we are on high ground," she said.
"Some people closer to the highway have been less fortunate with houses underwater apparently."
Ms McLellan said her house had lost power, but the rain was easing and the water was starting to recede.
Jane Crowdey posted on Facebook that she had rescued a cow from the ocean near the mouth of Bluewater Creek.
The cow's owner spotted the post and thanked Ms Crowdey for keeping her 'Sparkel' safe.
Police Inspector Damien Crosby said there had been significant rain.
He said a rock-wall landslide cut Hervey Range Road, west of Townsville.
"We don't believe there's any injuries or entrapments associated with that event but we are responding accordingly," Inspector Crosby said.
Residents concerned about flooding at their home can go to the Bluewater Community Centre, which is being staffed by emergency services.
The Education Department said the downpour prompted the emergency closures of four schools — Giru State School, North Eton State School, Rollingstone State School and Woodstock State School.
Three early childhood and day care centres were also closed — Giru Day Care Centre, My Little Feet Childcare Pimlico and Proserpine Public Kindergarten.
Ergon Energy cut power to more than 750 properties in the Bluewater areas to help swift water crews.
"To keep them safe as fast-rising waters reduce the clearance to powerlines, and because of reports of multiple properties being swamped, we've de-energised the local network," Ergon advised.
Rising waters also prompted Townsville City Council to evacuate the city's animal shelter, moving animals to another site.
What a sight! 😲Ross River Dam in Townsville has opened its flood gates for the first time since 2014!Listen to the roar!📹: Shannon Graham#Bigwet pic.twitter.com/DvaBk6HgXO
— ABC Brisbane (@abcbrisbane) January 30, 2019
Campers rescued
Inspector Crosby said earlier in the day four trapped campers were rescued by helicopter from an area known as Tabletop Mountain on Hervey Range Road.
"No injuries were sustained, however that particular location when it is cut off by floodwaters can be cut off for a considerable amount of time," Inspector Crosby said.
An initial attempt to rescue them yesterday was unsuccessful due to low cloud.
"A secondary attempt was made using a smaller aircraft from Charters Towers and thankfully that aircraft was able to extract the four people."
Comment: A continuation of the deluge for the region noted a few days prior: Rivers at record levels after 620mm (2 feet) of rain in 48 hours in Queensland, Australia