3636 WHEAT MILLER DRIVE
About This Property
Welcome to 3636 Wheat Miller Drive - a 3.16-acre property tucked in on a private road in Falling Green, one of Mount Airy's most desirable communities. The home backs directly onto forest conservation land that will never be built on.
The sunroom off the kitchen and the great room is where you'll actually live. Morning coffee, evening reading, the spot you end up on a Sunday - looking out across the large fenced rear yard to the tree line, no other homes in sight. The kind of privacy you can't manufacture in a newer subdivision.
Good bones, blank canvas - and the big-ticket work is already done. The roof is from 2019. Both HVAC systems in the two-zones were replaced in 2015. The LG kitchen appliances are nearly new: stainless refrigerator, microwave, gas range, and dishwasher (2025–2026), plus a 2026 wall oven and a 2025 LG washer and dryer - all conveying with the home. That's the expensive stuff a buyer usually absorbs in year one. Already handled.
The work that remains is the fun part: cosmetic refresh throughout, kitchen and bathroom remodels, and a few items the seller has disclosed up front. The unfinished basement is room to grow into when you're ready - home gym, media room, office, workshop, whatever the next chapter calls for.
Here's the deal: this home is priced well below the updated houses already selling in Falling Green. If you're willing to put your renovation budget into the right place - instead of paying full price for someone else's taste - you walk in with real equity from day one. Lots like this don't come around often. Sold strictly as-is, no repairs. Multiple offers received. Deadline Monday at 1 PM.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017