bed: 4 bath: 3 sq ft: 2,336 year built: 1973
bed: 4 bath: 3 sq ft: 2,336 year built: 1973
1770
$1,100,000
0%
Strategic Refinance Candidate8/5/23 Status Update: The expected bookable date for the project is set for August 2023. The photoshoot to capture images of the property is scheduled for August 11th. To expedite the booking-ready process, the sport court will be photoshopped into the images. Unfortunately, the current temperatures are not suitable for painting the court, but the plan is to complete the paint and lining work by August 18th. Once this is done, the court will be rephotographed to showcase the final result.
6/23/23 Status Update: The pool renovation was completed on Tuesday, May 6th, and the photos provided by the project manager look great. This home is a leaseback, and the sellers are still renting it from Arrived. The move-out date has been confirmed with the sellers as June 17th, and the pro-rated rent payment was confirmed paid in full on June 2nd. Additionally, the project manager has contracted the designer to start ordering FF&E. Unfortunately, the pickleball court builder is about 30 days behind schedule. The project manager is working on finding ways to expedite the process or find a suitable sub-contractor to start within the next two weeks. As of now, the tentative live date is targeted for August 20th, which would still be ahead of the 90-day onboarding period ending on September 17th.
Due to restrictions on the maximum number of investors that are allowed in each property, the minimum investment required for this property has been raised to $500.
The Pickler is a beautifully remodeled 4-bedroom, 3-bathroom vacation rental in Scottsdale, Arizona. The home sits on a half-acre corner lot in the coveted 85254 area code and features a circular driveway, front and back patios, a large kitchen with quartz countertops and a large island with seating, and a massive backyard with an outdoor shower, a diving pool, and so much more. True to the property name, this vacation rental will have a regulation-size pickleball court featured prominently in marketing to potential travelers. This could become one of the most desirable rentals in the Scottsdale market.
This vacation rental idea was chosen as a winner in Arrived's BYO Challenge, which rewards people who come up with the best, wildest, and most unique vacation rental project ideas. The winning concepts will be awarded $5000 worth of shares in an Arrived property and the opportunity to name the vacation rental.
Amenities
Address: 6001 East Corrine Drive, Scottsdale, AZ 85254
$153,300
— 10.2% Gross Yield
-
$79,815
$73,485
Cash Flow
÷
$1,499,690
Raise Amount
4.9%
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. Arrived's vacation rental strategy is focused on single-family homes.
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.
0%
Lower
Higher
Property Purchase Price
$1,100,000
Property Improvements & Cash Reserves
$262,840
Closing Costs, Offering Costs & Holding Costs
$81,841
Arrived Sourcing Fee (One-time)
$55,000
$1,499,681
$0
$1,499,690
IPO Price Per Share
$10
Total Shares
149,969
5-15 years
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 is the process to prepare a vacation rental for bookings
Preparing a newly-funded vacation rental for bookings can take an average of 1-3 months depending on a number of factors for each property. We work with experienced design & furnishing partners that have a strong track record of standing up and operating top performing vacation rentals quickly and efficiently. Together with these partners we develop a property theme, set a budget and timeline, and work with local contractors, furniture suppliers, and our property managers to ready not only the property but also all the additional services (cleaning, customer support, pricing optimization, …etc).
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
$1,499,690
Invested
Invested