662 E Lamorak Pl E · Richburg, SC 29729

$269,000

3 bd · 1.0 ba · 1,172 sqft · Other public records · 81 Days on market

Built 2023 Excellent condition 5,227 sqft lot $38/mo HOA · 1% of rent ↓ 5% since listing

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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 +23.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Appreciation +6.5/10.0
• 1% rule +5.4/10.0
• Condition / age +4.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

This beautiful new ranch is just waiting for you. From the moment you walk in the front door and see the open floor plan, to the attention to detail and upgrades, you are sure to fall in love. Bright open kitchen, plenty of room for friends and family. Your new home is complete with granite counters, Whirlpool stainless steel appliances which includes refrigerator, dishwasher, oven and microwave. Enjoy our neighborhood park and let your pets play at the dog park.

Key facts

• Split floorplan
• Open floorplan
• Fenced backyard

Tags

• OPEN FLOORPLAN
• FENCED BACKYARD
• GRANITE COUNTERS
• STAINLESS STEEL APPLIANCES
• LUXURY VINYL PLANK FLOORING
• SPLIT FLOORPLAN

Property features AI

Finance

• Other: Property listed as completed; Developer/builder information available
• HOA & community: Mandatory HOA managed by American Property Assoc; Annual association fee of $450; Community amenities: dog park, picnic area, playground, sidewalks, street lights, walking trails

Exterior

• Parking: Attached garage; Driveway; 2-car garage (approximately 380 sq ft)
• Utilities: City water; Public sewer; Cable available
• Home design: Single family residence; One level (single-story); Site built; Residential zoning
• Construction: Vinyl exterior; Slab foundation; Built by LGA
• Exterior features: Back yard with fencing; Fenced yard; Concrete and paved road access; Publicly maintained road

Interior

• Kitchen: Dishwasher; Disposal; Electric cooktop; Electric oven; Microwave
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Insulated windows; Screen doors; Sliding doors; 8 total rooms
• Laundry & utility: Dedicated laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $269k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $478 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $269k).
• Recommended offer: $253k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 5.7% in Richburg — 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 63/100 on livability (#182 in SC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, health & safety D+, amenities F.
• Chester 01 (rural): math 23% / reading 34% proficiency, ranked #59 of 80 in SC (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lewisville Elementary (math 47% / reading 42%, grade F, #226 of 597 statewide, top 40%, 510 students, 100% FRL); Lewisville High (math 44% / reading 87%, grade B, #83 of 196 statewide, top 43%, 416 students, 100% FRL) — zoned schools average 100% FRL vs 64% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 55% at this address vs 28% district-wide (+27 pts) — the actual schools serving this property are materially stronger than the Chester 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 81 active listings in the ZIP; 269 units permitted in Chester County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($2k loan paydown + $8k appreciation (3.0% local appreciation)).
• Chester County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $75k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($253k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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.

Recommended offer $252,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.61%
• DSCR: 1.34
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.99% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.6%
• Equity multiple: 1.83×
• Total profit: $62,690
• Equity at exit: $120,854

10-year hold

• IRR: 16.3%
• Equity multiple: 3.40×
• Total profit: $180,638
• Equity at exit: $186,173

Cash invested: $75,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State South Carolina: 90 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 29729

• Home prices YoY: 1.4%
• Active inventory: 81
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,785 medium
• Mortgage (P&I): −$1,411
• Tax from tax record: −$162 /mo · $1,945/yr
• Insurance: −$112
• HOA: −$38
• Vacancy / Maint / Mgmt: −$585
• Net cashflow: $478

Break-even live

Break-even rent $2,181

Max offer price $269,000

Occupancy floor 78%

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $38 · $456/yr
• Likely covers: pool

Listing history 24 events

1. 2026-06-18
   days on market $269,000 Active 81 DOM
2. 2026-06-17
   price $269,000 Active 80 DOM
3. 2026-06-17
   days on market $273,000 Active 80 DOM
4. 2026-06-16
   days on market $273,000 Active 79 DOM
5. 2026-06-15
   days on market $273,000 Active 78 DOM
6. 2026-06-13
   statusdays on market $273,000 Active 76 DOM
7. 2026-06-09
   days on market $273,000 Active Under Contract 72 DOM
8. 2026-06-08
   days on market $273,000 Active Under Contract 71 DOM
9. 2026-06-07
   days on market $273,000 Active Under Contract 70 DOM
10. 2026-06-04
    days on market $273,000 Active Under Contract 67 DOM
11. 2026-06-03
    days on market $273,000 Active Under Contract 66 DOM
12. 2026-06-02
    days on market $273,000 Active Under Contract 65 DOM
13. 2026-06-01
    days on market $273,000 Active Under Contract 64 DOM
14. 2026-05-31
    days on market $273,000 Active Under Contract 63 DOM
15. 2026-05-21
    price $273,000
16. 2026-04-23
    price $275,000
17. 2026-04-10
    price $278,000
18. 2026-03-29
    listed $282,500 Active
19. 2024-01-23
    soldstatus $287,900 Closed 470-char remark

    Show marketing remark (470 chars)

    This beautiful new ranch is just waiting for you. From the moment you walk in the front door and see the open floor plan, to the attention to detail and upgrades, you are sure to fall in love. Bright open kitchen, plenty of room for friends and family. Your new home is complete with granite counters, Whirlpool stainless steel appliances which includes refrigerator, dishwasher, oven and microwave. Enjoy our neighborhood park and let your pets play at the dog park.

20. 2023-12-18
    historical Active Under Contract 470-char remark

    Show marketing remark (470 chars)

    This beautiful new ranch is just waiting for you. From the moment you walk in the front door and see the open floor plan, to the attention to detail and upgrades, you are sure to fall in love. Bright open kitchen, plenty of room for friends and family. Your new home is complete with granite counters, Whirlpool stainless steel appliances which includes refrigerator, dishwasher, oven and microwave. Enjoy our neighborhood park and let your pets play at the dog park.

21. 2023-11-17
    listed $287,900 Active 470-char remark

    Show marketing remark (470 chars)

    This beautiful new ranch is just waiting for you. From the moment you walk in the front door and see the open floor plan, to the attention to detail and upgrades, you are sure to fall in love. Bright open kitchen, plenty of room for friends and family. Your new home is complete with granite counters, Whirlpool stainless steel appliances which includes refrigerator, dishwasher, oven and microwave. Enjoy our neighborhood park and let your pets play at the dog park.

22. 2023-09-22
    listed $286,900 Active
23. 2023-08-18
    listed $286,900 Active
24. 2023-07-14
    listed $286,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast SC · Resets to sale price

• Current annual tax: $1,945 · $162/mo
• Projected year-2 tax: $1,945 · $162/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $33,425
• − Mortgage interest: −$15,068
• − Property taxes: −$1,945
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,674
• − Management: −$2,674
• − HOA: −$456
• − Depreciation: −$7,825
• Taxable income: $1,437
• Est. tax owed @ 24.0%: −$345
• After-tax cash flow: $5,387/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.

Condition & rehab AI · 12 photos

Excellent 95/100 None rehab

This move-in ready ranch home features a beautiful open floor plan, granite counters, stainless steel appliances, and a fenced backyard. The home is in excellent condition with no visible repairs needed.

Value-add opportunities

• Resale Paint exterior walls — Fresh paint can enhance curb appeal and home value
• Both Replace carpet with hardwood flooring — Hardwood flooring is more durable and can increase both resale and rental value
• Both Install smart home devices — Smart home devices can increase home value and appeal to tech-savvy buyers

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior walls — Fresh paint can enhance curb appeal and home value ↑
• Both Replace carpet with hardwood flooring — Hardwood flooring is more durable and can increase both resale and rental value ↑
• Both Install smart home devices — Smart home devices can increase home value and appeal to tech-savvy buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Chester 01
• NCES district ID: 4501530
• Math proficiency: 23% ▼ -6.00%
• Reading proficiency: 34% ▬ 0.00%
• Median HH income: $34,041
• Composite: 23.39/100
• National rank: #7902
• State rank: #59 of 80 in SC

Livability — Richburg

• Score: 63/100
• State rank: #182
• US rank: #15927

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,313

Population outlook (Chester County) Hauer SSP2

• Today (2025): 30,121 people
• By 2030: 28,700 · -4.7%
• By 2040: 25,784 · -14.4%
• By 2050: 23,001 · -23.6%
• By 2075: 17,770 · -41.0%
• By 2100: 13,584 · -54.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Black 26% Two or more races 12% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5%
• Common ancestry: Danish 2% Serbian 2% Lithuanian 2%
• Foreign-born: 2% · Canada, Guatemala
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Chester

• 2024 margin: R (+17.2) · D 40.8% · R 58.0% · Other 1.1%
• 2008→2024 swing: -25.5pp toward R · 2008: 8.3pp · 2024: -17.2pp
• All cycles: 2024: R+17.2 2020: R+10.9 2016: R+4.8 2012: D+10.5 2008: D+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.99%
• Current HPI: 210.6518
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 4.51%
• F500 in state: 2

Industry mix (Fortune 500 HQ in SC)

Industry	F500 HQs	Revenue
▸Packaging	1	$7B

Price history

-4.8% since first listed

10 events — show timeline

• 2026-05-21 Price Changed $273,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-23 Price Changed $275,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $278,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-29 Listed $282,500 CANOPYMLS as Distributed by MLS Grid
• 2024-01-23 Sold (MLS) $287,900 CANOPYMLS as Distributed by MLS Grid
• 2023-12-18 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2023-11-17 Listed $287,900 CANOPYMLS as Distributed by MLS Grid
• 2023-09-22 Listed $286,900 CANOPYMLS as Distributed by MLS Grid
• 2023-08-18 Listed $286,900 CANOPYMLS as Distributed by MLS Grid
• 2023-07-14 Listed $286,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+14.1%/yr

Latest (2025): $1,945 · -16.0% YoY. Source: county tax records.