10 Delbarton Ct

Cockeysville, MD 21152

$794,900D+

4 bd · 4.5 ba · 3,436 sqft · Built 1985 · SingleFamily · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $8,500/mo
• Mortgage (P&I): −$4,169
• Tax + insurance: −$1,325
• HOA: −$0
• Vac / Maint / Mgmt: −$1,785
• Net cashflow: $1,222/mo
• Annual: $14,659/yr
• Cap rate: 8.14%
• Cash-on-cash: 6.59%
• DSCR: 1.29
• 1% rule: 1.07%
• Cash to close: $222,572

Investor read

• This is a 4-bed/4.5-bath single-family listed at $795k.
• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $795k).
• It's been on market 21 days — a 2% lower offer ($783k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $783k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#104 in MD, #4,006 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A, housing A; Watch: schools C-, crime D+, amenities D-.
• Baltimore County Public Schools (suburban): math 15% / reading 34% proficiency, ranked #11 of 24 in MD (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 46 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).
• Baltimore County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 8 sale attempts since 29y ago; this cycle's ask is 14% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $655k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.1% vs local median 2.0% in Cockeysville — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?
• 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.