8034-F Abbey Ct Unit F · Lake Shore, MD 21122

$230,000

2 bd · 1.0 ba · 922 sqft · Condo public records · 8 Days on market

Built 1987 $274/mo HOA · 13% of rent

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.0/30.0
• ARV discount +7.5/15.0
• 1% rule +4.5/10.0
• DSCR +3.9/10.0
• Livability +3.0/5.0
• Schools +2.9/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * * CUTE, CLEAN 2ND LEVEL CONDO IN CHESTERFIElD * * * * Unit is in good shape, has flow from kitchen to living/dining area and shows well! Great opportunity to own in Pasadena with reasonalble condo fees! See this one as soon as you can--won't last very long!! Seller providing buyer with 1 year AHS HOME WARRANTY !!! QUICK SETTLEMENT NOT A SHORT SALE!!!

Key facts

• $274 HOA
• Community pool
• Built 1987

Property features AI

Finance

• Other: Property manager present; Pets allowed with number limits; Ground rent paid annually
• HOA & community: Monthly condo fee of $274; Professional off-site management; Condo fee includes exterior building maintenance, insurance, pool(s), snow removal, management, common area maintenance, sewer, trash, water, and lawn care/maintenance; Community amenities include pool, tennis courts, playgrounds, sports fields/courts, picnic areas, and community center

Exterior

• Parking: Parking lot with paved, lighted spaces; Unassigned parking in general common elements
• Utilities: Public water; Public sewer; Electric service (electric heating, cooling, and hot water); Cable TV available; Phone available; Internet options: broadband, cable, fiber optic
• Home design: Condominium unit (Unit/Flat); Garden-style building (1–4 floors); Three total stories in building; Entry on second floor; Unit spans three floors; Building faces suburban setting
• Construction: Combination of brick and vinyl siding; Built with above-grade and below-grade structures; Double-hung, energy-efficient, insulated replacement windows with screens
• Exterior features: Deck(s); Backs to open common area; Community pool (in-ground concrete, lap/exercise); Common grounds and outdoor recreation facilities

Interior

• Kitchen: Dishwasher; Disposal; Electric oven/range; Refrigerator; Upgraded countertops; Exhaust fan
• Bedrooms: Two bedrooms on the main level
• Flooring: Ceramic tile; Carpet; Luxury vinyl plank
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Heat pump heating and cooling (electric)
• Interior features: Breakfast area; Window treatments; Traditional and open floor plan elements; Tub with shower; Built-ins; Ceiling fans; Pantry; Walk-in closet(s); Upgraded countertops; Entry-level bedroom
• Laundry & utility: Washer and dryer in unit; Washer and dryer included; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $230k.

Deal economics

• At list price, monthly cash flow is $-13 ($-155/yr) — negative.
• To cash-flow at today's rent, offer at most $228k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (4.7% below list).
• Recommended offer: $219k (4.7% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 2.8% in Lake Shore — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 59/100 on livability (#378 in MD) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Anne Arundel County Public Schools (suburban): math 20% / reading 37% proficiency, ranked #10 of 24 in MD (top 42%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Chesapeake Bay Middle (math 15% / reading 42%, grade F, #74 of 225 statewide, top 33%, 1,067 students, 26% FRL); Chesapeake High (math 50% / reading 71%, grade C+, #71 of 222 statewide, top 32%, 1,419 students, 23% FRL) — zoned schools at 25% FRL track the district average.
• Zoned-school proficiency averages 44% at this address vs 28% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Anne Arundel County Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 254 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,303 units permitted in Anne Arundel County in 2024 (299 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Anne Arundel County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 14y ago; this cycle's ask is 107% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $142k; list at $230k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 58% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $219,092 (4.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.24%
• DSCR: 0.99
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.76% rent growth · sell at horizon

5-year hold

• IRR: -19.4%
• Equity multiple: 0.34×
• Total profit: $-42,794
• Equity at exit: $34,294

10-year hold

• IRR: -18.2%
• Equity multiple: 0.12×
• Total profit: $-56,752
• Equity at exit: $19,886

Cash invested: $64,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Maryland: 27 Tenant-Leaning · D+14
• County: — inherits STATE
• City: — inherits STATE

Failure-to-pay is dismissed if cured before judgment; Baltimore has just-cause; strict deposit rules.

Methodology + full state rankings →

ZIP-level market 21122

• Rents YoY: 0.8%
• Active inventory: 254
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,191 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$168 /mo · $2,013/yr
• Insurance: −$96
• HOA: −$274
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $-13

Break-even live

Break-even rent $2,207

Max offer price $227,721

Occupancy floor 96%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8036 Abbey Ct Unit J Pasadena, MD	2.0	1.0	924	$1,850	$2.00	11d	1	0.01mi
3581 Brickwall Ln Pasadena, MD	3.0	1.0	1060	$2,200	$2.08	5d	1	0.20mi
3630 Saltwood Gln Pasadena, MD	2.0	2.0	960	$2,339	$2.44	3d	1	0.30mi
932 12th St Pasadena, MD	3.0	2.5	1100	$2,750	$2.50	43d	1	0.92mi
7810 East Rd Pasadena, MD	2.0	2.0	832	$2,500	$3.00	43d	1	1.06mi
7663 Cedar Dr Pasadena, MD	1.0	1.0	1100	$1,200	$1.09	18d	1	1.45mi

HOA detail condo

• Monthly dues: $274 · $3,288/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-18
   days on market $230,000 Active 8 DOM
2. 2026-06-17
   days on market $230,000 Active 7 DOM
3. 2026-06-16
   days on market $230,000 Active 6 DOM
4. 2026-06-15
   days on market $230,000 Active 5 DOM
5. 2026-06-13
   statusdays on market $230,000 Active 3 DOM
6. 2026-06-09
   remarks 699-char remark
7. 2026-06-09
   listed $230,000 Coming Soon 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MD · Partial reset (capped growth)

• Current annual tax: $2,013 · $168/mo
• Projected year-2 tax: $2,260 · $188/mo
• Expected delta: +$247/yr (+$21/mo · 12.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,291
• − Mortgage interest: −$12,884
• − Property taxes: −$2,013
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,103
• − Management: −$2,103
• − HOA: −$3,288
• − Depreciation: −$6,691
• Taxable loss: −$3,941
• Est. tax savings @ 24.0%: +$946
• After-tax cash flow: $791/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Anne Arundel County Public Schools
• NCES district ID: 2400060
• Math proficiency: 20% ▼ -21.00%
• Reading proficiency: 37% ▼ -13.00%
• Median HH income: $87,880
• Composite: 28.52/100
• National rank: #6733
• State rank: #10 of 24 in MD

Livability — Lake Shore

• Score: 59/100
• State rank: #378
• US rank: #20490

Category grades

Amenities F Commute F Cost of living F Crime C+ Employment A+ Housing A+ Health & safety F User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Shore, MD
• County: Anne Arundel County · 535,653 people
• City population: 61,589
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 61,566
• Household income: $127,587
• Rent vs Own: 13.4% rent · 86.6% own
• Severe rent burden: 791.0

Population outlook (Anne Arundel County) Hauer SSP2

• Today (2025): 617,384 people
• By 2030: 642,094 · +4.0%
• By 2040: 686,621 · +11.2%
• By 2050: 723,031 · +17.1%
• By 2075: 809,346 · +31.1%
• By 2100: 837,658 · +35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 7% Black 7% Hispanic / Latino 5% Asian 2%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Chinese 0%

Political lean MEDSL · Anne Arundel

• 2024 margin: D (+13.9) · D 55.7% · R 41.7% · Other 2.6%
• 2008→2024 swing: +15.7pp toward D · 2008: -1.8pp · 2024: 13.9pp
• All cycles: 2024: D+13.9 2020: D+14.5 2016: D+0.7 2012: R+0.9 2008: R+1.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -401.00%
• Current HPI: 283.1566
• Rent YoY: ▲ 0.76%
• Metro: Baltimore-Columbia-Towson, MD
• State GDP YoY: ▲ 2.97%
• F500 in state: 12

Industry mix (Fortune 500 HQ in MD)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	1	$71B
▸Utilities	1	$25B
▸Hotels	1	$24B
▸Consumer Goods	1	$7B
▸Real Estate	1	$6B
▸Chemicals	1	$2B

Price history

+107.2% since first listed

13 events — show timeline

• 2026-06-09 Coming Soon $230,000 BRIGHT MLS
• 2018-05-21 Sold (Public Records) $142,000 Public Records
• 2013-05-15 Sold (Public Records) $106,000 Public Records
• 2013-04-19 Sold (MLS) $106,000 BRIGHT MLS
• 2013-04-19 Sold (MLS) $106,000 MRIS
• 2013-03-14 Pending — MRIS
• 2013-03-14 Listing Removed — BRIGHT MLS
• 2013-02-23 Relisted — MRIS
• 2013-02-12 Pending — MRIS
• 2012-12-10 Relisted — MRIS
• 2012-11-24 Delisted — MRIS
• 2012-11-19 Listed $111,000 MRIS
• 2012-11-19 Listed $111,000 BRIGHT MLS

Property tax history

+1.7%/yr

Latest (2025): $2,013 · +13.6% YoY. Source: county tax records.