7 Slade Ave #511 · Pikesville, MD 21208

$125,000

2 bd · 2.0 ba · 1,334 sqft · Condo public records · 70 Days on market

Built 1971 $94/sqft · 18% below area Est $153k · 18% under $988/mo HOA · 49% 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).

• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• Cash flow +4.4/30.0
• Rent growth +3.9/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bright and spacious 2-bedroom, 2-bath residence in a beautiful full-service building. This well-appointed unit features a large living room with custom built-ins and sliding doors opening to a private balcony, a separate dining area, and an updated eat-in kitchen. The generous primary suite offers a walk-in closet and en-suite bath, complemented by a well-sized second bedroom. New carpeting throughout adds a fresh touch. Enjoy exceptional community amenities including a library, fitness center, party room, outdoor pool, and rental suite for guests.

Key facts

• Outdoor pool
• Private balcony
• Walk-in closet

Tags

• PRIVATE BALCONY
• UPDATED EAT-IN KITCHEN
• WALK-IN CLOSET
• COMMUNITY AMENITIES
• OUTDOOR POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $-326 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $67k (46.1% below list).
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $67k (46.1% below list) — sets the bar for cash-flow.

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 rising fast (+5.6%/yr); 171 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $864 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 70 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y 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.

Risks & watch-outs

• Watch-outs: HOA is 49% 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 $67,419 (46.1% 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 70 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.60% ✓
• Cap rate: 3.16%
• Cash-on-cash: -11.18%
• DSCR: 0.50
• GRM: 5.2

CMA / ARV

• ARV (median comp): $152,806
• List price: $125,000
• Delta: -18.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -28.2%
• Equity multiple: 0.00×
• Total profit: $-34,896
• Equity at exit: $18,638

10-year hold

• IRR: -11.5%
• Equity multiple: 0.12×
• Total profit: $-30,791
• Equity at exit: $10,808

Cash invested: $35,000 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,999 high
• Mortgage (P&I): −$656
• Tax from tax record: −$209 /mo · $2,513/yr
• Insurance: −$52
• HOA: −$988
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $-326

Break-even live

Break-even rent $2,411

Max offer price $67,419

Occupancy floor —

Sensitivity live

Price	-10% $-255	-5% $-291	+0% $-326	+5% $-361	+10% $-397
Rent	-10% $-484	-5% $-405	+0% $-326	+5% $-247	+10% $-168
Rate	-1.0pp $-263	-0.5pp $-294	base $-326	+0.5pp $-358	+1.0pp $-391

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7307 Park Heights Ave Pikesville, MD	2.0	2.0–2.5	1251	$2,506	$2.00	3d	5	0.20mi
3700 Seven Mile Ln Pikesville, MD	1.0–2.0	1.0–2.0	1063	$1,723	$1.62	3d	13	0.25mi
7220 Park Heights Ave Pikesville, MD	2.0	2.0	1050	$1,565	$1.49	4d	2	0.25mi
19 Warren Park Dr Pikesville, MD	3.0	1.0–2.0	903	$1,467	$1.62	0d	12	0.55mi
515 Marshall Ave Pikesville, MD	3.0	2.0	1200	$2,750	$2.29	45d	1	0.59mi
220 Brightside Ave Pikesville, MD	3.0	1.5	1233	$2,500	$2.03	19d	1	0.69mi
7008 Deerfield Rd Pikesville, MD	3.0	1.5	1664	$2,300	$1.38	45d	1	0.75mi
3607 Labyrinth Rd Baltimore, MD	1.0–3.0	1.0–2.0	925	$1,600	$1.73	21d	5	0.77mi
6936 Blanche Rd Baltimore, MD	3.0	1.5	1410	$1,800	$1.28	45d	1	0.78mi
3809 Clarks Ln Unit 301 Baltimore, MD	2.0	2.0	1057	$1,600	$1.51	25d	1	0.91mi
3505 Clarks Ln Unit D2 Baltimore, MD	3.0	2.0	1750	$2,500	$1.43	45d	1	0.92mi
3014 Romaric Ct Baltimore, MD	2.0	1.0	880	$1,724	$1.96	5d	1	0.93mi
3014 Romaric Ct Baltimore, MD	2.0	2.0	940	$1,709	$1.82	3d	1	0.93mi
3705 Midheights Rd Baltimore, MD	3.0	1.5	1024	$1,900	$1.86	25d	1	0.98mi
6609 Eberle Dr Baltimore, MD	1.0–3.0	1.0–2.0	1011	$1,478	$1.46	3d	25	1.03mi
3638 Fords Ln Baltimore, MD	2.0	2.0	1001	$1,795	$1.79	45d	1	1.07mi
3002 Fallstaff Manor Ct Baltimore, MD	1.0–2.0	1.0–2.0	810	$1,879	$2.32	3d	10	1.08mi
3301 Clarks Ln Baltimore, MD	1.0–2.0	1.0	801	$1,345	$1.68	4d	10	1.08mi
7248 Early Golden Ln Unit 7248 Pikesville, MD	3.0	2.5	1280	$2,500	$1.95	25d	1	1.11mi
6317 Pearce Ave Baltimore, MD	2.0	2.0	1140	$1,600	$1.40	45d	1	1.19mi
1 Pomona N Pikesville, MD	2.0	2.0	1495	$1,958	$1.31	0d	22	1.31mi
29 Stonehenge Cir #1 Pikesville, MD	1.0	1.0	931	$1,850	$1.99	19d	1	1.35mi
808 Templecliff Rd Pikesville, MD	3.0	2.0	1200	$2,300	$1.92	14d	1	1.40mi
2903 Fallstaff Rd #501 Baltimore, MD	1.0	1.0	894	$1,400	$1.57	45d	1	1.48mi

HOA detail condo

• Monthly dues: $988 · $11,856/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-18
   status $125,000 Pending 70 DOM
2. 2026-06-18
   days on market $125,000 Active 70 DOM
3. 2026-06-17
   days on market $125,000 Active 69 DOM
4. 2026-06-16
   days on market $125,000 Active 68 DOM
5. 2026-06-15
   days on market $125,000 Active 67 DOM
6. 2026-06-13
   days on market $125,000 Active 65 DOM
7. 2026-06-09
   days on market $125,000 Active 61 DOM
8. 2026-06-08
   days on market $125,000 Active 60 DOM
9. 2026-06-07
   days on market $125,000 Active 59 DOM
10. 2026-06-04
    days on market $125,000 Active 56 DOM
11. 2026-06-03
    days on market $125,000 Active 55 DOM
12. 2026-06-02
    days on market $125,000 Active 54 DOM
13. 2026-06-01
    days on market $125,000 Active 53 DOM
14. 2026-05-31
    days on market $125,000 Active 52 DOM
15. 2026-04-09
    listed $125,000 Active 554-char remark

    Show marketing remark (554 chars)

    Bright and spacious 2-bedroom, 2-bath residence in a beautiful full-service building. This well-appointed unit features a large living room with custom built-ins and sliding doors opening to a private balcony, a separate dining area, and an updated eat-in kitchen. The generous primary suite offers a walk-in closet and en-suite bath, complemented by a well-sized second bedroom. New carpeting throughout adds a fresh touch. Enjoy exceptional community amenities including a library, fitness center, party room, outdoor pool, and rental suite for guests.

16. 2020-04-10
    soldstatus $110,000
17. 2020-03-31
    soldstatus $110,000 Closed 265-char remark

    Show marketing remark (265 chars)

    AVAlLABLE IMMEDIATELY! MOVE IN READY * * * * * One level living. 2bedroom, 2 bath unit. Secured building with doorman. Secured parking. Washer and dryer in unit. Tons of closet space throughout. Balcony with space for seating that over looks the main entrance.

18. 2020-03-03
    status Pending 265-char remark

    Show marketing remark (265 chars)

    AVAlLABLE IMMEDIATELY! MOVE IN READY * * * * * One level living. 2bedroom, 2 bath unit. Secured building with doorman. Secured parking. Washer and dryer in unit. Tons of closet space throughout. Balcony with space for seating that over looks the main entrance.

19. 2020-02-11
    price $118,500 265-char remark

    Show marketing remark (265 chars)

    AVAlLABLE IMMEDIATELY! MOVE IN READY * * * * * One level living. 2bedroom, 2 bath unit. Secured building with doorman. Secured parking. Washer and dryer in unit. Tons of closet space throughout. Balcony with space for seating that over looks the main entrance.

20. 2020-01-24
    listed $125,000 Active 265-char remark

    Show marketing remark (265 chars)

    AVAlLABLE IMMEDIATELY! MOVE IN READY * * * * * One level living. 2bedroom, 2 bath unit. Secured building with doorman. Secured parking. Washer and dryer in unit. Tons of closet space throughout. Balcony with space for seating that over looks the main entrance.

21. 2007-06-22
    soldstatus $210,000
22. 2007-06-11
    soldstatus $210,000
23. 2007-05-23
    historical
24. 2007-04-20
    listed $219,900
25. 2006-09-19
    soldstatus $220,000
26. 2006-07-24
    soldstatus $220,000
27. 2006-05-18
    historical
28. 2006-04-17
    listed $249,000
29. 2001-10-23
    soldstatus $96,000
30. 2001-10-12
    soldstatus $96,000
31. 2001-08-23
    historical
32. 2001-08-14
    historical
33. 2001-07-24
    listed
34. 2001-05-31
    listed $99,500

ⓘ 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: $2,513 · $209/mo
• Projected year-2 tax: $2,513 · $209/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 6/10 Major 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: $23,986
• − Mortgage interest: −$7,002
• − Property taxes: −$2,513
• − Insurance: −$625
• − Repairs & maintenance: −$1,919
• − Management: −$1,919
• − HOA: −$11,856
• − Depreciation: −$3,636
• Taxable loss: −$5,484
• Est. tax savings @ 24.0%: +$1,316
• After-tax cash flow: $-2,595/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): 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

+25.6% since first listed

20 events — show timeline

• 2026-04-09 Listed $125,000 BRIGHT MLS
• 2020-04-10 Sold (Public Records) $110,000 Public Records
• 2020-03-31 Sold (MLS) $110,000 BRIGHT MLS
• 2020-03-03 Pending — BRIGHT MLS
• 2020-02-11 Price Changed $118,500 BRIGHT MLS
• 2020-01-24 Listed $125,000 BRIGHT MLS
• 2007-06-22 Sold (Public Records) $210,000 Public Records
• 2007-06-11 Sold (MLS) $210,000 MRIS
• 2007-05-23 Delisted — MRIS
• 2007-04-20 Listed $219,900 MRIS
• 2006-09-19 Sold (Public Records) $220,000 Public Records
• 2006-07-24 Sold (MLS) $220,000 MRIS
• 2006-05-18 Delisted — MRIS
• 2006-04-17 Listed $249,000 MRIS
• 2001-10-23 Sold (Public Records) $96,000 Public Records
• 2001-10-12 Sold (MLS) $96,000 MRIS
• 2001-08-23 Delisted — MRIS
• 2001-08-14 Delisted — MRIS
• 2001-07-24 Listed — MRIS
• 2001-05-31 Listed $99,500 MRIS

Property tax history

+0.3%/yr

Latest (2025): $2,513 · +5.7% YoY. Source: county tax records.