bed: 4 bath: 2.5 sq ft: 3,056 year built: 2015
bed: 4 bath: 2.5 sq ft: 3,056 year built: 2015
320
$392,000
70%
$2,695
12/5/2023 Status Update: This home is no longer in eviction. The Otoro is being prepared for the rental market.
11/3/23 Eviction Status Update: There is no update as we are still awaiting service.
10/5/23 Eviction Status Update: On 9/22, the property manager confirmed that the tenant who canceled their lease has illegally moved into the home and is not paying rent or security deposit despite ongoing outreach from the property manager. The demand was made on 9/24 and filed on 9/28. As of 10/5, we are awaiting service.
9/19/23 Status Update: There was a misunderstanding with our property manager and the intended tenant did not move in or make any payments so we had to cancel the lease. The listing is active again on Zillow and other major rental sites. We are working with our property management team to find a new tenant.
9/8/23 Status Update: A lease has been signed and we have confirmed the tenant has moved in. The lease for this home started on September 6th at $2,995 monthly rent for 21 months.
9/5/23 Status Update: An approved lease application has been signed and is awaiting the tenant's move in.
8/25/23 Status Update: This property is currently listed for rent on Zillow and other major rental sites.
8/5/23 Status Update: The Otoro has successfully gone through an eviction. The home is now vacant and being prepared for the rental market.
7/5/23 Eviction Status Update: There have been no updates. Below is the most recent status of this home. Read our blog, How Arrived Manages Evictions & Unlawful Occupancy, for more information.
6/23/23 Eviction Status Update: An eviction was filed on August 30, 2022. The updated court status as of last week indicates that the eviction is yet to be scheduled.
As of June 1, 2023, the writ is being held up by the Marshall.
On June 14, 2023, Fulton County reported that they are nearly finished with the December 2022 writs. We will receive a notification when they begin working on the current writs.
5/30/23 Eviction Status Update: The eviction case was filed on August 30, 2022. As of May 26, an update on the court status revealed that the eviction is in progress, and the scheduling for the eviction is yet to be determined.
This welcoming two-story Atlanta home offers granite countertops and a two car garage. The house has plenty of room with four bedrooms and two and a half bathrooms. The community even features a shared clubhouse, pool and tennis courts.
Address: 2970 Parkland View, Atlanta, GA 30331
Market preparation
July 2022
Timeline to Rent
The time needed to sign the first tenant lease is variable and can depend on several factors including seasonality and whether the property requires any sort of renovation. Historically the average time to lease has been 45 days and has ranged from a minimum of 7 days to over 90 days.
For more details on each status, check out the different rental statuses here.
$32,340
— 18.8% Gross Yield
-
$24,091
$8,249
Cash Flow
÷
$171,860
Raise Amount
4.8%
Based on data from the Zillow Value Home Index (ZHVI) Single Family Homes Time Series, single family homes have appreciated 4.5% per year on average for the last 20 years.
This data is based on a national average for Single family homes in the 35th to 65th percentile range by home prices according to the Zillow Home Value Index. This is a national average and may not represent actual performance of this property's zipcode. In addition to property appreciation, equity returns also depend on real estate investment costs, hold period, and leverage. For more information, refer to the Offering Circular.
Use our returns calculator below to see how hypothetical property performance may impact your investment.
70%
Lower
Higher
Atlanta is the capital and the most populous city in the state of Georgia. The Atlanta-Sandy Springs-Roswell MSA has a population of over 6 million people, ranking 9th in the U.S. with Atlanta as the cultural and economic center. Atlanta has a diverse economy with a dominance in the aerospace, transportation, film, media, medical services, business services and information technology industries.
Atlanta is considered a hub for air transportation with the Hartsfield-Jackson Atlanta International Airport, which is considered to have the world’s busiest passenger airport traffic and has achieved international prominence. The area has unique geography as it is located among the foothills of the Appalachian Mountains, creating rolling hills and the most dense urban tree coverage in the U.S.
Property Purchase Price
$392,000
Property Improvements & Cash Reserves
$23,700
Closing Costs, Offering Costs & Holding Costs
$9,296
Arrived Sourcing Fee (One-time)
$21,320
$446,316
$274,400
$171,860
IPO Price Per Share
$10
Total Shares
17,186
5-7 years
$430
How Arrived works
Arrived acquires rental properties into an LLC and sells shares in that LLC to the general public. Arrived then manages the day to day operations including finding tenants and completing repairs. Investors receive cash dividends from rental income each quarter and capture any property value appreciation.
What returns can I expect
Investing in Arrived rental properties can deliver returns to investors in two different ways:
1) Dividends from the rental income on each property; currently paid out to investors quarterly
2) Appreciation from the change in property value that will be realized at the end of the investment hold period
What to expect if my property is still seeking a tenant
We are currently focused on marketing the rental homes to prospective tenants and will email you when a new lease has been signed. Arrived's strategy for seeking tenants is focused on signing 2 year leases, achieving market rent, and thoroughly vetting applicants. Though it may take a bit more time to lease out the homes, we believe these standards provide our investors the best way to maximize returns over the long term.
Diversification
With real estate, it can be beneficial to invest in multiple properties and markets to achieve portfolio diversification. Diversifying your portfolio can be a good way to reduce exposure to risk from an individual property, tenant, or market forces.
Investing horizon & liquidity
Currently investors will need to plan to hold their shares for the full investment period until the property is sold and investors are paid their proportional proceeds from the sale. We anticipate establishing a mechanism to facilitate secondary trading in accordance with the rules and regulations of the U.S. Securities & Exchange Commission (SEC) as an option for liquidity during the investment period, however there can be no guarantee when that will be available. Please submit your email if you would like to be notified of future developments.
Arrived strives to give investors the opportunity to build wealth through real estate. Historically, real estate returns have been maximized when treated as a long-term investment over multiple years. Arrived property offerings typically have a 5 year minimum investment period before a property would be sold.
Disclaimer:
There is currently no public trading market for our Interests, and an active market may not develop or be sustained. There is no guarantee that appropriate regulatory approval to permit such secondary trading will ever be obtained. If an active public trading market for our securities does not develop or is not sustained, it may be difficult or impossible for you to resell your shares at any price before the end of the investment period. Even if a public market does develop, the market price could decline below the amount you paid for your shares, and there may be fees involved. Please refer to our offering circular for more details regarding potential distributions.
No need to worry, all Arrived rental properties go through our rigorous selection process and have been pre-vetted for their investment potential by our acquisitions team (more info). Rather than focusing on selecting individual properties to invest in, many Arrived investors simply distribute their investment across several available properties to achieve portfolio diversification.
100% shares purchased
$171,860
Invested
Invested