5871 Milam Road
About This Property
The main residence offers 4 bedrooms and 3 full baths with spacious open-concept living areas. A second-floor game room provides flexible use as an additional bedroom or private retreat and includes a full bath and a large walk-in cedar storage closet. Interior upgrades include quartz kitchen countertops, brand new double-ovens, updated lighting fixtures and wood-look tile flooring throughout the entire lower level.
A separate 1,200 sq ft guest house features a large private bedroom suite, master-sized bathroom and walk-in closet, built-in carport, and its own fenced backyard-ideal for guests, extended family, or next-generation living.
Property amenities include a 30' x 30' Shop and attached carport both with electricity, a Barn with 3 stalls, tack room & attached equipment storage, a supersized covered RV parking area with a 50-amp hookup, and a 565' Well.
The private backyard retreat features a beautifully finished pool area fully enclosed with pipe fencing, providing a secure and relaxing environment.
Major updates include all three HVAC systems replaced (2023 & 2025), LG black stainless steel appliances, new water heater (2023), hot water circulator (2025), updated lighting, interior and exterior paint (2023), pool replastered and retiled (2022), and new roof, decking, and gutters on the main house and well house (Nov 2025).
Well suited for multi-generational living with additional potential for agricultural, hobby, or certain home-based business uses, subject to buyer verification and applicable regulations.
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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 |
|---|---|---|---|
| Apr 30, 2026 | Sold | ||
| Sold | |||
| Apr 5, 2026 | In contract | - | |
| In contract | |||
| Feb 15, 2026 | Price Decreased |
$1,249,900
↓ $50K
(3.9%) | |
| Price Decreased | |||
| Dec 16, 2025 | Listed by Keller Williams Realty | $1,299,900 | |
| Listed by Keller Williams Realty | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017