40246 THOMAS MILL ROAD
About This Property
The existing home features original hardwood floors and wood windows ready to be brought back to life, creating the foundation for a truly stunning renovation. With 3 bedrooms, 3 full baths, and 1,621 square feet above grade, the home offers a functional layout filled with natural light and possibilities for customization.
Two wood-burning fireplaces add warmth and charm, while the finished walk-up basement with a full bath provides outstanding flexibility for future private guest quarters, office space, recreation areas, or expanded living options. The walk-up access adds convenience and enhances the home's potential for multi-use living.
Outside, the expansive property offers endless opportunities for outdoor living, gardening, recreation, or future improvements, all while enjoying the peaceful setting that makes Leesburg so desirable.
Opportunities like this are increasingly hard to find in such a sought-after Northern Virginia location with easy access to shopping, dining, commuter routes, and the Washington, DC metro area. This is a chance to transform a solid home with great bones into something truly special.
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Cap Rate Calculator
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 |
|---|---|---|---|
| Jun 30, 2026 | Sold | ||
| Sold | |||
| Jun 3, 2026 | In contract | - | |
| In contract | |||
| May 29, 2026 | Price Decreased |
$725,000
↓ $25K
(3.3%) | |
| Price Decreased | |||
| Mar 26, 2026 | Listed by Real Broker, LLC | $750,000 | |
| Listed by Real Broker, LLC | |||
| Sep 22, 2018 | No longer available | - | |
| No longer available | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017