8905 Stone Creek Pl #201 · Owings Mills, MD 21208

$228,000

3 bd · 2.0 ba · 1,217 sqft · Condo public records · 129 Days on market

Built 1996 $187/sqft · at area comps Est $227k · at est. $360/mo HOA · 15% 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 +12.5/30.0
• ARV discount +7.2/15.0
• 1% rule +5.3/10.0
• Livability +4.0/5.0
• Rent growth +3.9/5.0
• DSCR +3.7/10.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bright and inviting condo located near Owings Mill Station and Mall. Very easy commute to Baltimore. Great space at a great price. This condo features three nicely sized bedrooms, a small deck, and a gas fireplace for cozy nights.

Key facts

• $360 HOA
• Built 1996
• Listed 129 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $228k.

Deal economics

• At list price, monthly cash flow is $-33 ($-396/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (2.6% below list).
• Meets the 1% rule at list price ($2k rent vs $228k).
• Recommended offer: $201k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.1% vs local median 4.0% in Owings Mills — 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 79/100 on livability (#57 in MD, #2,037 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: cost of living C-, amenities D, crime 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.
• Zoned schools: Woodholme Elementary (math 7% / reading 18%, grade F, #535 of 860 statewide, top 62%, 696 students, 58% FRL); Northwest Academy of Health Sciences (math 6% / reading 35%, grade F, #141 of 225 statewide, top 65%, 759 students, 62% FRL); New Town High (math 2% / reading 24%, grade F, #191 of 222 statewide, top 86%, 1,316 students, 55% FRL) — zoned schools average 58% FRL vs 39% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.6%/yr); 171 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).
• This rent runs 31% of the median local income ($90k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• 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 129 days — a 12% lower offer ($201k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $140k; list at $228k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,640 (12.0% 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. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.03% ✓
• Cap rate: 6.12%
• Cash-on-cash: -0.62%
• DSCR: 0.97
• GRM: 8.1

CMA / ARV

• ARV (median comp): $226,610
• List price: $228,000
• Delta: 0.61%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.64% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.49×
• Total profit: $-32,398
• Equity at exit: $33,996

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-2,179
• Equity at exit: $19,713

Cash invested: $63,840 (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 21208

• Rents YoY: 5.6%
• Active inventory: 171
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,354 high
• Mortgage (P&I): −$1,196
• Tax from tax record: −$242 /mo · $2,904/yr
• Insurance: −$95
• HOA: −$360
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $-33

Break-even live

Break-even rent $2,396

Max offer price $222,175

Occupancy floor 96%

Sensitivity live

Price	-10% $96	-5% $32	+0% $-33	+5% $-98	+10% $-162
Rent	-10% $-219	-5% $-126	+0% $-33	+5% $60	+10% $153
Rate	-1.0pp $82	-0.5pp $25	base $-33	+0.5pp $-92	+1.0pp $-152

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: $57,000
• Closing costs: $6,840
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8905 Stone Creek Pl #102 Pikesville, MD	2.0	2.0	1208	$2,275	$1.88	6d	1	0.04mi
8813 Stone Ridge Cir #202 Pikesville, MD	2.0	2.0	1208	$2,200	$1.82	18d	1	0.05mi
9224 Owings Choice Ct Owings Mills, MD	3.0	2.5	1480	$2,400	$1.62	23d	1	0.34mi
9101 Amber Oaks Way Owings Mills, MD	2.0	1.0	1302	$1,850	$1.42	45d	1	0.54mi
100 Chase Mill Cir Owings Mills, MD	1.0–3.0	1.0–2.0	939	$2,327	$2.48	0d	10	0.68mi
4700 Riverstone Dr Owings Mills, MD	1.0–3.0	1.0–2.0	1055	$2,530	$2.40	0d	22	0.74mi
9204 Appleford Cir Owings Mills, MD	1.0–3.0	1.0–2.5	1001	$2,551	$2.55	0d	22	0.83mi
9401 Groveton Cir Owings Mills, MD	1.0–3.0	1.0–2.0	1158	$2,800	$2.42	0d	12	0.90mi
4604 Owings Run Rd Owings Mills, MD	1.0–3.0	2.0	1102	$2,401	$2.18	0d	22	1.02mi
9432 Lyons Mill Rd Unit 2 Owings Mills, MD	3.0	1.5	1000	$2,295	$2.29	6d	1	1.03mi
9432 Lyons Mill Rd Unit 1 Owings Mills, MD	2.0	1.0	1000	$2,095	$2.10	6d	1	1.03mi
5000 Waverly Ln Owings Mills, MD	1.0–2.0	1.0–2.0	915	$2,714	$2.96	0d	17	1.15mi
10209 Grand Central Ave Owings Mills, MD	1.0–2.0	1.0–2.0	850	$2,226	$2.62	0d	13	1.19mi
8541 Lucerne Rd Randallstown, MD	3.0	2.0	1009	$2,001	$1.98	4d	1	1.22mi
10090 Mill Run Cir Unit 610051 Owings Mills, MD	2.0	2.5	1366	$2,348	$1.72	14d	1	1.24mi
10090 Mill Run Cir Unit 225 Owings Mills, MD	2.0	2.0	1274	$2,062	$1.62	16d	1	1.24mi
10090 Mill Run Cir Apt 353 Owings Mills, MD	2.0	2.0	1303	$2,020	$1.55	16d	1	1.24mi
10090 Mill Run Cir Unit 610049 Owings Mills, MD	2.0	2.5	1452	$2,452	$1.69	16d	1	1.24mi
10090 Mill Run Cir Unit 07-10050 Owings Mills, MD	2.0	2.5	1452	$2,448	$1.69	16d	1	1.24mi
10090 Mill Run Cir Owings Mills, MD	1.0–3.0	1.0–2.5	1219	$2,817	$2.31	22d	35	1.25mi
10090 Mill Run Cir Unit 05-10059 Owings Mills, MD	2.0	2.5	1366	$2,358	$1.73	16d	1	1.27mi
4300 Flint Hill Dr Owings Mills, MD	1.0–3.0	1.0–2.0	952	$2,527	$2.65	0d	29	1.33mi
3771 Brice Run Rd Randallstown, MD	2.0	1.0–1.5	822	$1,579	$1.92	0d	13	1.45mi

HOA detail condo

• Monthly dues: $360 · $4,320/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 35 events

1. 2026-06-21
   days on market $228,000 Active 129 DOM
2. 2026-06-18
   days on market $228,000 Active 126 DOM
3. 2026-06-17
   days on market $228,000 Active 125 DOM
4. 2026-06-16
   days on market $228,000 Active 124 DOM
5. 2026-06-15
   days on market $228,000 Active 123 DOM
6. 2026-06-13
   days on market $228,000 Active 121 DOM
7. 2026-06-09
   days on market $228,000 Active 117 DOM
8. 2026-06-08
   days on market $228,000 Active 116 DOM
9. 2026-06-07
   days on market $228,000 Active 115 DOM
10. 2026-06-04
    days on market $228,000 Active 112 DOM
11. 2026-06-03
    days on market $228,000 Active 111 DOM
12. 2026-06-02
    days on market $228,000 Active 110 DOM
13. 2026-06-01
    days on market $228,000 Active 109 DOM
14. 2026-05-31
    days on market $228,000 Active 108 DOM
15. 2026-05-01
    status Active 230-char remark

    Show marketing remark (230 chars)

    Bright and inviting condo located near Owings Mill Station and Mall. Very easy commute to Baltimore. Great space at a great price. This condo features three nicely sized bedrooms, a small deck, and a gas fireplace for cozy nights.

16. 2026-04-30
    historical 230-char remark

    Show marketing remark (230 chars)

    Bright and inviting condo located near Owings Mill Station and Mall. Very easy commute to Baltimore. Great space at a great price. This condo features three nicely sized bedrooms, a small deck, and a gas fireplace for cozy nights.

17. 2026-02-12
    listed $228,000 Active 230-char remark

    Show marketing remark (230 chars)

    Bright and inviting condo located near Owings Mill Station and Mall. Very easy commute to Baltimore. Great space at a great price. This condo features three nicely sized bedrooms, a small deck, and a gas fireplace for cozy nights.

18. 2026-02-07
    historical $228,000 230-char remark

    Show marketing remark (230 chars)

    Bright and inviting condo located near Owings Mill Station and Mall. Very easy commute to Baltimore. Great space at a great price. This condo features three nicely sized bedrooms, a small deck, and a gas fireplace for cozy nights.

19. 2024-11-26
    historical
20. 2024-10-25
    price $225,000
21. 2024-09-24
    price $230,000
22. 2024-09-19
    listed $240,000 Active
23. 2024-09-18
    historical
24. 2016-02-05
    soldstatus $140,000
25. 2016-01-25
    soldstatus $140,000
26. 2016-01-25
    soldstatus $140,000 Sold
27. 2015-12-11
    status Contract
28. 2015-12-08
    historical
29. 2015-11-30
    status Active
30. 2015-11-23
    historical
31. 2015-10-17
    status Active
32. 2015-10-17
    listed $142,000
33. 2015-10-17
    historical
34. 2015-10-17
    listed $142,000
35. 2002-08-22
    soldstatus $93,000

ⓘ 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: $2,904 · $242/mo
• Projected year-2 tax: $2,904 · $242/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 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,249
• − Mortgage interest: −$12,772
• − Property taxes: −$2,904
• − Insurance: −$1,140
• − Repairs & maintenance: −$2,260
• − Management: −$2,260
• − HOA: −$4,320
• − Depreciation: −$6,633
• Taxable loss: −$4,040
• Est. tax savings @ 24.0%: +$970
• After-tax cash flow: $574/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 — Owings Mills

• Score: 79/100
• State rank: #57
• US rank: #2037

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Owings Mills, MD
• County: Baltimore County · 769,527 people
• City population: 62,816
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 37,276
• Household income: $90,131
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 1588.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 47% Black 43% Hispanic / Latino 4% Two or more races 4% Asian 3%
• Common ancestry: Scotch-Irish 4% Romanian 3% Subsaharan African 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 85% English-only · Spanish 4% Other Indo-European 2% Russian/Polish/Slavic 2%

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: ▼ -299.14%
• Current HPI: 237.5825
• Rent YoY: ▲ 5.64%
• 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

+145.2% since first listed

21 events — show timeline

• 2026-05-01 Relisted — BRIGHT MLS
• 2026-04-30 Listing Removed — BRIGHT MLS
• 2026-02-12 Listed $228,000 BRIGHT MLS
• 2026-02-07 Coming Soon $228,000 BRIGHT MLS
• 2024-11-26 Listing Removed — BRIGHT MLS
• 2024-10-25 Price Changed $225,000 BRIGHT MLS
• 2024-09-24 Price Changed $230,000 BRIGHT MLS
• 2024-09-19 Listed $240,000 BRIGHT MLS
• 2024-09-18 Coming Soon — BRIGHT MLS
• 2016-02-05 Sold (Public Records) $140,000 Public Records
• 2016-01-25 Sold (MLS) $140,000 MRIS
• 2016-01-25 Sold (MLS) $140,000 BRIGHT MLS
• 2015-12-11 Pending — MRIS
• 2015-12-08 Listing Removed — BRIGHT MLS
• 2015-11-30 Relisted — MRIS
• 2015-11-23 Delisted — MRIS
• 2015-10-17 Relisted — MRIS
• 2015-10-17 Listed $142,000 MRIS
• 2015-10-17 Delisted — MRIS
• 2015-10-17 Listed $142,000 BRIGHT MLS
• 2002-08-22 Sold (Public Records) $93,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $2,904 · +7.5% YoY. Source: county tax records.