221 Royal St SE & 219 1/2 South St - Two Homes, One Historic Lot

Investment Overview

Two detached dwellings on a single 0.17-acre R-HD lot at the quiet dead end of Royal Street SE in Leesburg's Old & Historic District, offered as-is for $774,900. The main house is a 1917 two-story colonial of 1,496 SF with a covered front porch and a 700 SF unfinished basement; the second dwelling, carried by Loudoun County as 219 1/2 South Street, is a 1949 one-story rambler of 980 SF. Both homes are leased: the main house at $1,300 per month and the second dwelling at $950 per month, $2,250 per month ($27,000 per year) combined, so a buyer steps into income from day one. Lease terms available upon request. Current rents sit well below market for the historic core, leaving room to grow income as leases roll. Ideal for an investor buying two rentals on one deed, a future owner-occupant who wants a house with an income cottage, or a renovator adding value to solid historic housing stock. Public water and sewer, central heat in both homes, stone and concrete foundations, cement-fiber siding under asphalt-shingle gable roofs. Lots of 0.05 to 0.10 acre are the norm on these blocks - buyers should confirm with Leesburg Planning & Zoning whether the parcel can be subdivided into two lots. King Street's shops and restaurants are a five-minute walk. The Tollhouse Center retail strip abuts the block to the east, with Route 7, Route 15 and the Dulles Greenway minutes away.

Investment Highlights

• Two dwellings totaling 2,476 SF of living area on one 0.17-acre lot
• Main house: 1917 two-story colonial, 1,496 SF plus 700 SF basement - leased at $1,300/month
• Second dwelling: 1949 one-story rambler, 980 SF (219 1/2 South St) - leased at $950/month
• In-place income $2,250/month ($27,000/year); rents below market with upside as leases roll
• Sold as-is, subject to existing leases; cash at settlement
• Zoned R-HD with H-1 Old & Historic District overlay
• Public water and sewer; central heat, no central air
• 2026 assessment $681,150; 2026 real estate tax $6,692
• Possible two-lot subdivision - buyer to verify with the Town of Leesburg
• Dead-end street, five-minute walk to King Street
• PIN 231-29-3971