What happened
By Roman tradition Rome was founded in 753 BC. The famous legend credits Romulus, who with his twin Remus was suckled by a she-wolf, then killed Remus and became the first king. These are legends preserved in much later sources, not documented history.
Background
Archaeology shows Iron Age villages on Rome’s hills, notably the Palatine, coalescing into a city from about the 8th century BC, at the crossroads of the Latin, Sabine, and Etruscan worlds. The traditional date and story were systematized by later Roman writers such as Varro and Livy.
Consequences
The legend gave Rome a foundational identity, and 753 BC became the epoch of the Roman calendar (ab urbe condita). The monarchy it began was, by tradition, overthrown in 509 BC to found the Republic.