37961 FOREST MILLS ROAD
About This Property
This remarkable estate tells a story nearly two centuries in the making.
Dating to approximately 1830, the main residence stands as a living piece of Virginia's heritage-gracefully preserved and thoughtfully partially renovated in 2026 to honor its historic character while enhancing comfort for modern living. With six bedrooms, three full baths, and two half baths, the home offers both scale and intimacy. Set within a natural hollow and embraced by rolling hills and mature trees, the residence enjoys a rare sense of shelter and serenity-protected from the outside world, yet open to the beauty of the surrounding landscape. Here, sunlight filters softly through the canopy, and every season unfolds like a painting beyond your windows. Wide-plank floors, period details, and timeworn textures echo its past, while carefully updated spaces provide ease for today's lifestyle. Each room feels deeply connected to the land, offering peaceful, private views in every direction.
The story extends well beyond the main home.
Across the property, a beautifully reimagined carriage house, fully renovated in 2026, offers two bedrooms and one bath-perfect for guests, extended stays, or income potential. A second residence, a charming colonial-style home with three bedrooms and two baths, adds further flexibility for multi-generational living or rental opportunities.
The land itself invites possibility. Two barns-one large and one medium-sized-stand ready for equestrian use, storage, or creative adaptation. A picturesque pond reflects the surrounding greenery, while a swimming pool provides a tranquil setting for relaxation and entertaining during warmer months.
And everywhere you look, there is history.
During the Civil War, the property served as a vital local supply post-its grounds quietly witnessing a defining chapter in the nation's past. In later years, a noted National Geographic cartographer called this land home, drawn by its perspective and natural beauty. Even earlier, a natural water spring on the property served as an important watering site for the nearby village of Lincoln, making this land a place of gathering and sustenance for the community.
Even the trees here tell a story. Identified by a local arborist, the property is home to several rare and noteworthy tree specimens, adding both distinction and natural significance to the landscape.
Today, 37961 Forest Mills Road offers a rare blend of heritage and opportunity. The estate supports a range of uses, including private residential living, income-producing rentals with two additional homes, or hospitality ventures such as a bed and breakfast, vacation rental, or wedding and event venue. All of this is protected within a conservation easement, preserving the land's beauty and ensuring its legacy endures.
Here, life unfolds differently. Mornings begin with mist rising through the hollow, afternoons stretch across open fields and shaded paths, and evenings settle gently beneath a canopy of stars. It is a place of quiet refuge, rich history, and endless potential.
More than an address, this is a legacy���
a story rooted in the land, waiting for its next chapter to be written.
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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 |
|---|---|---|---|
| Oct 31, 2026 | Price Decreased |
$3,495,000
↓ $155K
(4.2%) | |
| Price Decreased | |||
| Sep 30, 2026 | Price Decreased |
$3,649,500
↓ $146K
(3.8%) | |
| Price Decreased | |||
| Aug 4, 2026 | Price Decreased |
$3,795,000
↓ $155K
(3.9%) | |
| Price Decreased | |||
| Jun 1, 2026 | Listed by Realty World Homes & Castles | $3,950,000 | |
| Listed by Realty World Homes & Castles | |||
| May 19, 2025 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017