3 Windblown Ct #102 · Pikesville, MD 21209

$120,000

2 bd · 2.0 ba · 1,206 sqft · Condo public records · 82 Days on market

Built 1985 $372/mo HOA · 21% of rent

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Why this score? — see what drove the C- 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 +19.9/30.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• Livability +3.5/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

2-bedroom, 2-bathroom condo located in the sought-after Rockland Run Condominium. Living room, Dining room, open floor plan, Large rooms, lots of closets, and a Balcony for your enjoyment. Sold as is. Community offers common areas and an outdoor pool. The building also includes convenient laundry facilities and a private storage closet. The condo fee covers water, gas, trash removal, as well as access to fantastic community amenities including a pool and tennis courts—plus, you’ll benefit from low electric bills thanks to included gas heating and cooking. Perfectly situated near major commuting routes, this home offers easy access to downtown Baltimore, Towson, Hunt Valley, Owin

Key facts

• Outdoor pool
• Open floor plan
• Community amenities

Tags

• OPEN FLOOR PLAN
• OUTDOOR POOL
• PRIVATE STORAGE CLOSET
• COMMUNITY AMENITIES
• EASY ACCESS TO DOWNTOWN

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 2.6% in Pikesville — 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 69/100 on livability (#191 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: schools C-, amenities F, commute F.
• 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: Rents flat; 81 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Baltimore County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 6216% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $44k; list at $120k implies a 171% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: moderate wind risk, 23% 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 $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.49% ✓
• Cap rate: 7.75%
• Cash-on-cash: 5.19%
• DSCR: 1.23
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.59% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.58×
• Total profit: $-14,133
• Equity at exit: $17,892

10-year hold

• IRR: -8.9%
• Equity multiple: 0.53×
• Total profit: $-15,768
• Equity at exit: $10,375

Cash invested: $33,600 (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 21209

• Rents YoY: 0.6%
• Active inventory: 81
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,792 high
• Mortgage (P&I): −$629
• Tax from tax record: −$219 /mo · $2,629/yr
• Insurance: −$50
• HOA: −$372
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $145

Break-even live

Break-even rent $1,608

Max offer price $120,000

Occupancy floor 87%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Longstream Ct #202 Baltimore, MD	2.0	2.0	1343	$2,050	$1.53	43d	1	0.02mi
6 Longstream Ct Unit T2 Baltimore, MD	1.0	1.0	1063	$1,550	$1.46	43d	1	0.04mi
1901 Snow Meadow Ln Baltimore, MD	1.0–3.0	1.0–2.0	1134	$1,974	$1.74	2d	31	0.05mi
5 Suntop Ct Unit T1 Baltimore, MD	1.0	1.0	950	$1,295	$1.36	10d	1	0.07mi
6905 Jones View Dr Unit 3C Baltimore, MD	2.0	2.5	1371	$2,100	$1.53	14d	1	0.24mi
2217 Woodbox Ln Unit 2217A Baltimore, MD	2.0	2.0	1443	$2,000	$1.39	23d	1	0.51mi
2101 Woodbox Ln Unit B Baltimore, MD	2.0	2.0	1325	$2,000	$1.51	43d	1	0.57mi
6832 Hayley Ridge Way Unit I Baltimore, MD	2.0	2.0	1048	$1,900	$1.81	23d	1	0.60mi
6617 Bonnie Ridge Dr Baltimore, MD	1.0–3.0	1.0–2.0	1060	$1,968	$1.86	2d	70	0.78mi
1 Ruxview Ct Towson, MD	2.0–3.0	2.0	1398	$2,145	$1.53	10d	4	1.33mi

HOA detail condo

• Monthly dues: $372 · $4,464/yr
• Likely covers: watertrashgaselectricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-05-07
   listed $1,900
2. 2026-03-06
   status Pending
3. 2026-02-09
   status Active
4. 2025-09-24
   status Pending
5. 2025-07-29
   listed $120,000 Active
6. 1983-04-04
   soldstatus $44,332

ⓘ 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: $2,629 · $219/mo
• Projected year-2 tax: $2,629 · $219/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,504
• − Mortgage interest: −$6,722
• − Property taxes: −$2,629
• − Insurance: −$600
• − Repairs & maintenance: −$1,720
• − Management: −$1,720
• − HOA: −$4,464
• − Depreciation: −$3,491
• Taxable income: $158
• Est. tax owed @ 24.0%: −$38
• After-tax cash flow: $1,706/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: Baltimore County Public Schools
• NCES district ID: 2400120
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $66,746
• Composite: 23.17/100
• National rank: #7948
• State rank: #11 of 24 in MD

Livability — Pikesville

• Score: 69/100
• State rank: #191
• US rank: #8765

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pikesville, MD
• County: Baltimore County · 769,527 people
• City population: 37,276
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 30,126
• Household income: $91,437
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1421.0

Population outlook (Baltimore County) Hauer SSP2

• Today (2025): 885,518 people
• By 2030: 909,272 · +2.7%
• By 2040: 951,547 · +7.5%
• By 2050: 990,955 · +11.9%
• By 2075: 1,086,411 · +22.7%
• By 2100: 1,135,078 · +28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 21% Hispanic / Latino 6% Asian 5% Two or more races 4%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Scotch-Irish 6% Romanian 3% Subsaharan African 3%
• Foreign-born: 15% · Canada, China, South Korea
• Languages at home: 79% English-only · Russian/Polish/Slavic 5% Spanish 5% Chinese 1%

Political lean MEDSL · Baltimore

• 2024 margin: Strong D (+24.5) · D 61.0% · R 36.5% · Other 2.5%
• 2008→2024 swing: +9.9pp toward D · 2008: 14.6pp · 2024: 24.5pp
• All cycles: 2024: D+24.5 2020: D+27.0 2016: D+17.4 2012: D+16.4 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -211.06%
• Current HPI: 296.4865
• Rent YoY: ▲ 0.59%
• 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

-95.7% since first listed

6 events — show timeline

• 2026-05-07 Listed for Rent $1,900 BRIGHTMLS
• 2026-03-06 Pending — BRIGHT MLS
• 2026-02-09 Relisted — BRIGHT MLS
• 2025-09-24 Pending — BRIGHT MLS
• 2025-07-29 Listed $120,000 BRIGHT MLS
• 1983-04-04 Sold (Public Records) $44,332 Public Records

Property tax history

+4.6%/yr

Latest (2025): $2,629 · +8.2% YoY. Source: county tax records.