17 Warren Lodge Ct Unit 1C · Cockeysville, MD 21030

$179,000

2 bd · 1.0 ba · 964 sqft · Condo · 22 Days on market

Built 1969 $225/mo HOA · 12% 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 +13.2/30.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• DSCR +4.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Freshly updated and move-in ready, this inviting condo in the heart of Cockeysville offers comfortable, low-maintenance living in a convenient location close to shopping, dining, Hunt Valley, and major commuter routes including I-83. Recently painted and featuring brand new carpet throughout, the home feels bright, clean, and welcoming from the moment you step inside. The spacious living room is anchored by a cozy fireplace, creating the perfect space to unwind on cooler evenings or enjoy relaxed weekends at home. Two comfortably sized bedrooms provide flexibility for guests, a home office, or additional living space, while the functional layout offers an easy everyday flow. Gallery kitchen

Key facts

• Solid wood cabinets
• Gallery kitchen
• Upgraded countertops

Tags

• COZY FIREPLACE
• GALLERY KITCHEN
• SOLID WOOD CABINETS
• UPGRADED COUNTERTOPS
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• HOA & community: Monthly condo fee of $225 covering common area maintenance, exterior building maintenance, lawn maintenance, and pool(s); Outdoor pool amenity

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer; Electric cooling fuel; Natural gas heating and hot water
• Home design: Condominium unit (Garden style, 1–4 floors); Unit/Flat; Entry on floor 1
• Construction: Brick construction; Above-grade structure
• Exterior features: Community outdoor pool; Ground rent paid annually

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric); Natural gas hot water
• Interior features: Estimated living area; Wood-burning fireplace (1)
• Laundry & utility: Laundry located in the basement (no washer/dryer in unit)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $179k.

Deal economics

• At list price, monthly cash flow is $-2 ($-23/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (0.2% below list).
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $176k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.3% 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.

Location & tenants

• 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: Rents soft (-1.1%/yr); 77 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 22 days — a 2% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $83k; list at $179k implies a 116% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $176,315 (1.5% 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. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.02% ✓
• Cap rate: 6.28%
• Cash-on-cash: -0.05%
• DSCR: 1.00
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.3%
• Equity multiple: 0.32×
• Total profit: $-34,326
• Equity at exit: $26,689

10-year hold

• IRR: -23.9%
• Equity multiple: 0.00×
• Total profit: $-50,103
• Equity at exit: $15,477

Cash invested: $50,120 (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 21030

• Rents YoY: -1.1%
• Active inventory: 77
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,826 high
• Mortgage (P&I): −$939
• Tax from tax record: −$206 /mo · $2,477/yr
• Insurance: −$75
• HOA: −$225
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $-2

Break-even live

Break-even rent $1,829

Max offer price $178,656

Occupancy floor 95%

Sensitivity live

Price	-10% $99	-5% $49	+0% $-2	+5% $-53	+10% $-103
Rent	-10% $-146	-5% $-74	+0% $-2	+5% $70	+10% $142
Rate	-1.0pp $88	-0.5pp $44	base $-2	+0.5pp $-48	+1.0pp $-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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Warren Lodge Ct Unit B Cockeysville, MD	3.0	2.0	1119	$1,999	$1.79	11d	1	0.05mi
13 Warren Lodge Ct Unit 1B Cockeysville, MD	2.0	1.0	956	$1,700	$1.78	44d	1	0.05mi
10604 Partridge Ln Unit B4 Cockeysville, MD	2.0	2.0	999	$1,700	$1.70	44d	1	0.55mi
10000 Greenside Dr Cockeysville, MD	1.0–3.0	1.0–1.5	993	$1,700	$1.71	2d	33	0.56mi
334 Cranbrook Rd Unit BH3K Cockeysville, MD	1.0	1.0	920	$1,753	$1.91	15d	1	0.66mi
2 Garston Ct Cockeysville, MD	1.0–3.0	1.0–2.0	959	$1,820	$1.90	2d	18	0.70mi
307 Foxfire Pl Cockeysville, MD	1.0–3.0	1.0–2.0	882	$1,739	$1.97	2d	17	0.78mi
599 Cranbrook Rd Cockeysville, MD	1.0–3.0	1.0–2.0	1304	$2,196	$1.68	2d	23	0.95mi
700 Stoney Mill Ct Cockeysville, MD	1.0–2.0	1.0	850	$1,565	$1.84	5d	1	1.12mi
401 Lakespring Way Cockeysville, MD	2.0	1.0–2.0	590	$1,897	$3.22	5d	1	1.37mi
88 E Padonia Rd Timonium, MD	1.0–3.0	1.0–2.0	1048	$2,060	$1.97	3d	24	1.40mi
317 Lake Vista Cir Cockeysville, MD	2.0	2.0	1179	$1,765	$1.50	21d	1	1.42mi
3 Deepwater Ct Cockeysville, MD	2.0	1.0	590	$1,402	$2.38	13d	1	1.44mi

HOA detail condo

• Monthly dues: $225 · $2,700/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $179,000 Active 22 DOM
2. 2026-06-17
   days on market $179,000 Active 21 DOM
3. 2026-06-16
   days on market $179,000 Active 20 DOM
4. 2026-06-15
   days on market $179,000 Active 19 DOM
5. 2026-06-13
   days on market $179,000 Active 17 DOM
6. 2026-06-09
   days on market $179,000 Active 13 DOM
7. 2026-06-08
   days on market $179,000 Active 12 DOM
8. 2026-06-07
   days on market $179,000 Active 11 DOM
9. 2026-06-04
   days on market $179,000 Active 8 DOM
10. 2026-06-03
    days on market $179,000 Active 7 DOM
11. 2026-06-02
    days on market $179,000 Active 6 DOM
12. 2026-06-01
    days on market $179,000 Active 5 DOM
13. 2026-05-31
    days on market $179,000 Active 4 DOM
14. 2026-05-27
    listed $179,000 Active
15. 2002-01-03
    soldstatus $82,900

ⓘ 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: $2,477 · $206/mo
• Projected year-2 tax: $2,477 · $206/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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,915
• − Mortgage interest: −$10,027
• − Property taxes: −$2,477
• − Insurance: −$895
• − Repairs & maintenance: −$1,753
• − Management: −$1,753
• − HOA: −$2,700
• − Depreciation: −$5,207
• Taxable loss: −$2,897
• Est. tax savings @ 24.0%: +$695
• After-tax cash flow: $672/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 — Cockeysville

• Score: 75/100
• State rank: #104
• US rank: #4006

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cockeysville, MD
• County: Baltimore County · 769,527 people
• City population: 25,827
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 25,827
• Household income: $89,015
• Rent vs Own: 56.3% rent · 43.7% own
• Severe rent burden: 1336.0

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 0.64)
• Race & ethnicity: White 56% Black 16% Hispanic / Latino 15% Two or more races 14% Asian 8%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Dominican 3%
• Common ancestry: Romanian 3% Italian 2% Scotch-Irish 2%
• Foreign-born: 17% · Canada, China, South Korea
• Languages at home: 79% English-only · Spanish 9% Other Indo-European 5% Other Asian/Pacific 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: ▼ -197.00%
• Current HPI: 222.5979
• Rent YoY: ▼ -1.08%
• 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

+115.9% since first listed

2 events — show timeline

• 2026-05-27 Listed $179,000 BRIGHT MLS
• 2002-01-03 Sold (Public Records) $82,900 Public Records

Property tax history

+2.9%/yr

Latest (2025): $2,477 · +4.3% YoY. Source: county tax records.