# EDGAR Filing Document

**Accession Number:** 0001962723
**File Stem:** 0001213900-25-091696
**Filing Date:** 2025-9
**Character Count:** 343394
**Document Hash:** 62ad0168a6cab4762d2f51838ed3abf6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-091696.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0001213900-25-091696

**CONFORMED SUBMISSION TYPE**: 1-SA

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250925

**DATE AS OF CHANGE**: 20250925

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Arrived Homes 3, LLC
- **CENTRAL INDEX KEY:** 0001962723
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE [6500]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 921716073
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 1-SA
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 24R-00880
- **FILM NUMBER:** 251344421

**BUSINESS ADDRESS:**
- **STREET 1:** 1 WEST MOUNTAIN STREET, SUITE 109
- **CITY:** FAYETTEVILLE
- **STATE:** AR
- **ZIP:** 72701
- **BUSINESS PHONE:** 814-277-4833

**MAIL ADDRESS:**
- **STREET 1:** 1 WEST MOUNTAIN STREET, SUITE 109
- **CITY:** FAYETTEVILLE
- **STATE:** AR
- **ZIP:** 72701

**United States**

**Securities And Exchange Commission** 

**Washington, D.C. 20549**

**FORM 1-SA**

**SEMIANNUAL REPORT PURSUANT TO REGULATION A**

For the fiscal semiannual period ended

**June 30, 2025**

**ARRIVED HOMES 3, LLC**

(Exact name of issuer as specified in its Certificate of Formation)

---

| | |
|:---|:---|
| **Delaware** | **92-1716073** |
| (State or other jurisdiction of<br> incorporation or organization) | (I.R.S. Employer<br> Identification No.) |

---

**1700 Westlake Avenue North, Suite 200**

**Seattle, WA 98109**

(Full mailing address of principal executive offices)

**814-277-4833**

(Issuer's telephone number)

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| [ITEM 1. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION](#a_001) | 1 |
| [ITEM 2. OTHER INFORMATION](#a_002) | 7 |
| [ITEM 3. FINANCIAL STATEMENTS](#a_003) | F-1 |
| [ITEM 4. EXHIBITS](#a_004) | 8 |

---

i

**CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS**

The information contained in this Semiannual Report on Form 1-SA (this "Form 1-SA") includes some statements that are not historical and that are considered "forward-looking statements." Such forward-looking statements include, but are not limited to, statements regarding our development plans for our business; our strategies and business outlook; anticipated development of our company, the manager, each series of our company and the Arrived platform (defined below); and various other matters (including contingent liabilities and obligations and changes in accounting policies, standards and interpretations). These forward-looking statements express the manager's expectations, hopes, beliefs, and intentions regarding the future. In addition, without limiting the foregoing, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipates," "believes," "continue," "could," "estimates," "expects," "intends," "may," "might," "plans," "possible," "potential," "predicts," "projects," "seeks," "should," "will," "would" and similar expressions and variations, or comparable terminology, or the negatives of any of the foregoing, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this Form 1-SA are based on current expectations and beliefs concerning future developments that are difficult to predict. Neither our company nor the manager can guarantee future performance, or that future developments affecting our company, the manager or the Arrived platform will be as currently anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.

All forward-looking statements attributable to us are expressly qualified in their entirety by these risks and uncertainties. These risks and uncertainties, along with others, are detailed under the headings "Summary – Summary Risk Factors" and "Risk Factors" in our latest offering circular (the "Offering Circular") filed by the company with the Securities and Exchange Commission (the "Commission"), which may be accessed [here](https://www.sec.gov/Archives/edgar/data/1962723/000196272325000004/arrived3-253g2.htm) and may be amended, and in our subsequent reports and offering statements filed from time to time with the Commission. Should one or more of these risks or uncertainties materialize, or should any of the parties' assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You should not place undue reliance on any forward-looking statements and should not make an investment decision based solely on these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

ii

**ITEM 1. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION**

**Overview**

Arrived Homes 3, LLC, a Delaware series limited liability company, was formed in January 2023 to permit public investment in individual residential properties. We believe people should have access to the wealth creation that real estate investment can provide. We believe in passive income, conservative debt, diversification, and aligned incentives.

Arrived is a marketplace for investing in real estate. We buy residential properties, divide them into multiple interests, and offer them as investments on a per interest basis through our web-based platform. Investors can manage their risk by spreading their investments across a portfolio of homes and they can invest in real estate without needing to apply for mortgages or take on personal debt.

Arrived does all of the work of sourcing, analyzing, maintaining, and managing all of the residential properties that we acquire. We analyze every property investment across several financial, market, and demographic characteristics to support our acquisition decision-making. Every investment we make is an investment in the communities in which Arrived operates, alongside other like-minded individuals. As our community network grows, so does our access to investment and housing opportunities.

Arrived arranges for a property manager to operate the properties as single-family rentals for tenants who can also invest through the same process as any other member of the Arrived Platform, becoming part owners of the homes they're staying in at that time. By investing together, we align incentives towards creating value for everyone.

Since its formation in January 2023, our company has been engaged primarily in acquiring properties for its series offerings, developing the financial, offering and other materials to facilitate fundraising, and taking the steps necessary to effectuate the series offerings and the management of the associated series properties. As of June 30, 2025, our company has acquired 85 properties.

**Risk Factors**

We face risks and uncertainties that could affect us and our business as well as the real estate industry generally. These risks are outlined under the heading "Risk Factors" beginning on page 12 in our Offering Circular which may be accessed [here](https://www.sec.gov/Archives/edgar/data/1962723/000196272325000004/arrived3-253g2.htm#tocAnchor7), as the same may be updated from time to time by our future filings under Regulation A ("Regulation A") of the Securities Act of 1933 (the "Securities Act"). In addition, new risks may emerge at any time and we cannot predict such risks or estimate the extent to which they may affect our financial performance. These risks could result in a decrease in the value of the membership interests in each of the series of our company.

**Emerging Growth Company**

While we currently have no intention of making such an election, we may elect to become a public reporting company under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). If we elect to do so, we will be required to publicly report on an ongoing basis as an emerging growth company, as defined in the JOBS Act, under the reporting rules set forth under the Exchange Act. For so long as we remain an emerging growth company, we may take advantage of certain exemptions from various reporting requirements that are applicable to other Exchange Act reporting companies that are not emerging growth companies, including, but not limited to:

● not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act;

● being permitted to comply with reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements; and

● being exempt from the requirement to hold a non-binding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.

In addition, Section 107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We may elect to take advantage of the benefits of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards.

We would expect to take advantage of these reporting exemptions until we are no longer an emerging growth company. We would remain an emerging growth company for up to five years, or until the earliest of (i) the last day of the first fiscal year in which our total annual gross revenues exceed $1 billion; (ii) the date that we become a large accelerated filer as defined in Rule 12b-2 under the Exchange Act, which would occur if the market value of our series interests that is held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter; or (iii) the date on which we have issued more than $1 billion in non-convertible debt during the preceding three-year period.

**Distributions**

In order to qualify as a REIT, a series must distribute annually to investors at least 90% of its REIT taxable income (computed without regard to the dividends paid deduction and excluding net capital gain), and to avoid federal income and excise taxes on retained taxable income and gains it must distribute 100% of such income and gains annually. Our manager may authorize distributions in excess of those required for us to maintain our REIT status and/or avoid such taxes on retained taxable income and gains depending on our financial condition and such other factors as our manager deems relevant.

Our company expects the manager to make distributions of any free cash flow on a monthly or other periodic basis as determined by the manager. However, the manager may change the timing of distributions in its sole discretion. Investors will be required to update their personal information on a regular basis to make sure they receive all allocated distributions. We will utilize a "mobile wallet" feature for payment of distributions (the "Arrived Homes Wallet"). The Arrived Homes Wallet will be used to allow investors to pay for subscriptions, receive distributions and reinvest distributions.

Any distributions that we make directly impacts the NAV for each of our series, by reducing the amount of our assets. Our goal is to provide a reasonably predictable and stable level of current income, through monthly or other periodic distributions, while at the same time maintaining a fair level of consistency in our NAV for each series. Over the course of your investment, your distributions plus the change in NAV per interest (either positive or negative) will produce your total return.

**Critical Accounting Policies**

Our accounting policies will conform with GAAP. The preparation of financial statements in conformity with GAAP will require us to use judgment in the application of accounting policies, including making estimates and assumptions. These judgments may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods. We intend to make these estimates and assumptions in an appropriate manner and in a way that accurately reflects our financial condition. We will continually test and evaluate our estimates and assumptions using our historical knowledge of the business, as well as other factors, to ensure that they are reasonable for reporting purposes. However, actual results may differ from our estimates and assumptions.

We believe our critical accounting policies govern the significant judgments and estimates used in the preparation of our financial statements. Please refer to *Note 2, Summary of Significant Accounting Policies*, included in the financial statements, for a more thorough discussion of our accounting policies and procedures.

**Operating Results**

 ****

***Revenues***

---

| | | |
|:---|:---|:---|
| **Rental Income** | **Rental Income** | **Rental Income** |
| **Series Name** | **June 30,<br> 2025** | **June 30,<br> 2024** |
| Adams | $12820 | $- |
| Antares | 11670 | 11670 |
| Aramis | 12270 | 12270 |
| Arkoma | 9022 | 9570 |
| Arya | 8370 | 8370 |
| Aspen | 13640 | 7006 |
| Athos | 12570 | 12570 |
| Barclay | 12030 | 11970 |
| Bayne | 12600 |  |
| Bean | 12870 | 12870 |
| Bennett | 10170 | 10170 |
| Benny | 10770 | 10770 |
| Bluebell | 12720 | 12720 |
| Bowling | 9360 | 9175 |
| Boxwood | 9278 |  |
| Bradford | 11520 | 11520 |
| Brookwood | 11220 | 11220 |
| Bryant | 12570 | 12570 |
| Caden | 9570 | 10170 |
| Camellia | 11034 | 10770 |
| Caterpillar | 8975 | 10770 |
| Chilhowee | 14370 | 15517 |
| Claremore | 9120 | 8628 |
| Collinison | 12570 | 12720 |
| Cordero | 12270 | 12439 |
| Cristalino | 15270 | 10944 |
| Ellie | 7758 | 8362 |
| Emelina | 8227 | 10470 |
| Ethan | 8850 | 8850 |
| Frances | 12180 | 11043 |
| Glenncrest | 9975 | 11771 |
| Gordon | 11370 | 11370 |
| Haikey | 10710 | 10770 |
| Hamblen | 9381 | 12570 |
| Hancock | 12940 | 12270 |
| Hardman | 14970 | 15163 |
| Haven | 8970 | 6696 |
| Haverhill | 10081 | 17845 |
| Haybridge | 6532 | 8380 |
| Hedgecrest | 11449 | 6584 |
| Helmerich | 10052 | 10770 |
| Hermanos | 13170 | 9283 |
| Holmes | 6405 | 8370 |
| Johnson | 14520 |  |
| Keystone | 15253 | 11552 |
| Langley | 15270 |  |
| Laurel | 13770 | 10940 |
| Layla | 13370 | 11375 |
| Liberty | 11670 | 11782 |
| Lithonia | 11970 | 5719 |
| Lola | 12720 | 12720 |
| Lucas | 6354 | 12270 |
| Macomber | 13320 | 12685 |
| Mallard | 8725 | 10470 |
| Marcy | 8155 | 7622 |
| Meridian | 11055 | 11100 |
| Metallo | 1888 |  |
| Misty | 15570 |  |
| Montgomery | 9870 | 6754 |
| Northbrook | 11370 | 5685 |
| Northridge | 6780 | 3899 |
| Oakland | 13320 | 6809 |
| Palmore | 8022 | 8520 |
| Pebblestone | 13770 | 10474 |
| Perdita | 11970 | 11970 |
| Phoebe | 11790 | 6720 |
| Pongo | 12570 | 12570 |
| Portsmouth | 12978 | 10770 |
| Presidio | 7352 |  |
| Rachel | 9985 | 6795 |
| Ratliff | 12720 | 8480 |
| Riverwood | 10573 | 12240 |
| Roanoke | 14970 | 17269 |
| Robinson | 14170 |  |
| Ross | 14000 | 13611 |
| Sansa | 8370 | 8370 |
| Sedgefield | 14140 | 6666 |
| Seneca | 13470 |  |
| Sheezy | 11200 | 10920 |
| Sherwood | 8370 | 8370 |
| Spangler | 7041 |  |
| Summerglen | 10770 | 10770 |
| Tansel | 10927 | 14370 |
| Thomas | 7180 | 10968 |
| Tomlinson | 5880 |  |
| Tytus | 12270 | 12270 |
| Vanzant | 13470 | 10552 |
| Watson | 8370 | 8370 |
| Westhaven | 11520 | 14140 |
| Wheeler | 10291 | 9894 |
| Williamson | 11135 | 11100 |
| Woodland | 7770 | 7770 |
| Woodwind | 4466 | 10157 |
| Wynde | 11820 | 11745 |
| Wyndhurst | 5798 | 11970 |
| Zane | 7650 | 7650 |
|  | $**1043396** | $**883815** |

---

***Operating Expenses***

 ****

The company incurred the following operating expenses during the six months ended June 30, 2025 and 2024. The operating expenses incurred prior to the closing of an offering related to any of the series are being paid by our manager and are reimbursed by such series out of the gross offering proceeds upon closing of the relevant series offering. Such operating expenses include real estate taxes, property insurance, Home Ownership Association (HOA) fees, legal fees, other professional fees, depreciation, and repair and maintenance costs.

Upon closing, each individual series becomes responsible to fund its own operating expenses. The following table summarizes the total operating expenses by series as of June 30, 2025 and 2024:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Operating Expenses** | &nbsp;&nbsp;&nbsp;**Operating Expenses** | &nbsp;&nbsp;&nbsp;**Operating Expenses** | &nbsp;&nbsp;&nbsp;**Operating Expenses** | &nbsp;&nbsp;&nbsp;**Operating Expenses** | &nbsp;&nbsp;&nbsp;**Operating Expenses** | &nbsp;&nbsp;&nbsp;**Operating Expenses** |
| | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| <br>**Series Name** | **Operating<br> Expenses** | **Depreciation** | **Total<br> Expenses** | **Operating<br> Expenses** | **Depreciation** | **Total<br> Expenses** |
| Adams | $10228 | $4197 | $14425 | $- | $- | $- |
| Antares | 5131 | 4257 | 9388 | 5524 | 4257 | 9781 |
| Aramis | 6271 | 4123 | 10394 | 7150 | 4123 | 11273 |
| Arkoma | 4859 | 3245 | 8103 | 3935 | 3245 | 7179 |
| Arya | 3512 | 2466 | 5979 | 5073 | 2466 | 7539 |
| Aspen | 5358 | 3679 | 9037 | 11028 | 3679 | 14707 |
| Athos | 8647 | 4578 | 13225 | 8405 | 4578 | 12983 |
| Barclay | 5234 | 4208 | 9442 | 6795 | 4208 | 11003 |
| Bayne | 10683 | 4807 | 15490 |  |  |  |
| Bean | 6310 | 4029 | 10338 | 8053 | 4029 | 12082 |
| Bennett | 3866 | 2910 | 6776 | 5297 | 2910 | 8207 |
| Benny | 6788 | 3503 | 10291 | 6721 | 3503 | 10224 |
| Bluebell | 5782 | 4108 | 9889 | 5521 | 4108 | 9628 |
| Bowling | 4417 | 2862 | 7279 | 4009 | 2862 | 6871 |
| Boxwood | 11686 | 4420 | 16106 |  |  |  |
| Bradford | 5086 | 4180 | 9267 | 5286 | 4180 | 9467 |
| Brookwood | 5510 | 3854 | 9363 | 5418 | 3854 | 9271 |
| Bryant | 8268 | 4392 | 12660 | 7170 | 4392 | 11562 |
| Caden | 6098 | 3437 | 9536 | 10344 | 3437 | 13782 |
| Camellia | 5696 | 4811 | 10507 | 6445 | 4811 | 11255 |
| Caterpillar | 11956 | 4124 | 16080 | 6825 | 4124 | 10949 |
| Chilhowee | 6299 | 4471 | 10770 | 5035 | 4471 | 9505 |
| Claremore | 4946 | 3232 | 8178 | 7204 | 3232 | 10437 |
| Collinison | 7807 | 4666 | 12472 | 6399 | 4152 | 10551 |
| Cordero | 5542 | 3860 | 9402 | 5168 | 3860 | 9028 |
| Cristalino | 6652 | 4225 | 10877 | 15905 | 4225 | 20130 |
| Ellie | 15475 | 3948 | 19423 | 8316 | 3948 | 12264 |
| Emelina | 6231 | 4121 | 10352 | 5291 | 4121 | 9412 |
| Ethan | 5187 | 4147 | 9334 | 7721 | 3277 | 10998 |
| Frances | 4241 | 3837 | 8079 | 8396 | 3198 | 11594 |
| Glenncrest | 4870 | 3991 | 8861 | 7615 | 3991 | 11606 |
| Gordon | 6286 | 3512 | 9798 | 5771 | 3512 | 9284 |
| Haikey | 6398 | 3368 | 9765 | 5041 | 3368 | 8408 |
| Hamblen | 8027 | 3527 | 11553 | 4061 | 3527 | 7588 |
| Hancock | 6623 | 4227 | 10849 | 5649 | 4227 | 9876 |
| Hardman | 7389 | 5326 | 12715 | 7401 | 5326 | 12727 |
| Haven | 3711 | 2549 | 6260 | 3545 | 2549 | 6094 |
| Haverhill | 5629 | 3225 | 8853 | 5493 | 3225 | 8718 |
| Haybridge | 7438 | 4931 | 12369 | 6227 | 4931 | 11158 |
| Hedgecrest | 751 | 5336 | 6086 | 7123 | 4931 | 12054 |
| Helmerich | 5078 | 3462 | 8541 | 4327 | 3462 | 7789 |
| Hermanos | 6413 | 5914 | 12327 | 8092 | 5914 | 14006 |
| Holmes | 11565 | 2419 | 13985 | 2674 | 2419 | 5093 |
| Johnson | 6291 | 4510 | 10801 | 3430 |  | 3430 |
| Keystone | 6590 | 4784 | 11375 | 7910 | 3987 | 11897 |
| Langley | 13156 | 4559 | 17715 |  |  |  |
| Laurel | 5818 | 4631 | 10448 | 12183 | 3087 | 15270 |
| Layla | 6924 | 4453 | 11377 | 11213 | 4453 | 15666 |
| Liberty | 6970 | 5545 | 12515 | 11041 | 4170 | 15211 |
| Lithonia | 7257 | 4963 | 12221 | 20558 | 4426 | 24984 |
| Lola | 6842 | 4144 | 10987 | 6301 | 4144 | 10445 |
| Lucas | 11667 | 4070 | 15737 | 6970 | 3503 | 10473 |
| Macomber | 7989 | 4286 | 12274 | 8554 | 4286 | 12840 |
| Mallard | 3138 | 2862 | 6000 | 7511 | 2862 | 10373 |
| Marcy | 4502 | 2466 | 6968 | 5952 | 2466 | 8418 |
| Meridian | 5574 | 4492 | 10065 | 7403 | 4206 | 11609 |
| Metallo | 13168 | 3340 | 16508 |  |  |  |
| Misty | 7487 | 4723 | 12210 |  |  |  |
| Montgomery | 4331 | 4173 | 8504 | 11688 | 3267 | 14956 |
| Northbrook | 5714 | 3872 | 9586 | 6976 | 3872 | 10848 |
| Northridge | 5149 | 3535 | 8684 | 9073 | 2946 | 12019 |
| Oakland | 5321 | 4222 | 9543 | 6558 | 4222 | 10780 |
| Palmore | 7323 | 3455 | 10779 | 7558 | 3455 | 11013 |
| Pebblestone | 7700 | 4642 | 12342 | 7789 | 3868 | 11657 |
| Perdita | 5403 | 4560 | 9963 | 5694 | 4560 | 10254 |
| Phoebe | 6437 | 3818 | 10255 | 10631 | 3182 | 13813 |
| Pongo | 5451 | 4560 | 10011 | 6743 | 4560 | 11303 |
| Portsmouth | 5837 | 3331 | 9169 | 5257 | 2932 | 8189 |
| Presidio | 9751 | 3288 | 13039 |  |  |  |
| Rachel | 6804 | 3972 | 10775 | 10116 | 3972 | 14087 |
| Ratliff | 5668 | 4394 | 10062 | 10411 | 4394 | 14805 |
| Riverwood | 6721 | 5020 | 11741 | 5403 | 5020 | 10424 |
| Roanoke | 6128 | 4604 | 10732 | 4307 | 4604 | 8911 |
| Robinson | 6532 | 4409 | 10942 |  |  |  |
| Ross | 6691 | 4582 | 11273 | 9402 | 4582 | 13984 |
| Sansa | 3934 | 2466 | 6401 | 3550 | 2466 | 6016 |
| Sedgefield | 6390 | 4014 | 10403 | 8727 | 2007 | 10734 |
| Seneca | 6955 | 4057 | 11012 |  |  |  |
| Sheezy | 5815 | 3215 | 9031 | 6556 | 3215 | 9772 |
| Sherwood | 4215 | 2398 | 6613 | 2779 | 2398 | 5178 |
| Spangler | 13352 | 5872 | 19224 |  |  |  |
| Summerglen | 5577 | 3330 | 8908 | 4383 | 3330 | 7713 |
| Tansel | 9885 | 4476 | 14361 | 8640 | 4476 | 13116 |
| Thomas | 9690 | 3015 | 12705 | 5032 | 3015 | 8046 |
| Tomlinson | 24980 | 3332 | 28312 |  |  |  |
| Tytus | 4893 | 3579 | 8472 | 5071 | 3579 | 8650 |
| Vanzant | 7861 | 4862 | 12723 | 14915 | 4052 | 18967 |
| Watson | 3271 | 2419 | 5691 | 2435 | 2419 | 4855 |
| Westhaven | 5619 | 3508 | 9127 | 9444 | 3508 | 12952 |
| Wheeler | 3877 | 2864 | 6742 | 3783 | 2864 | 6648 |
| Williamson | 29099 | 3940 | 33039 | 4039 | 3940 | 7979 |
| Woodland | 3138 | 2927 | 6065 | 3357 | 2927 | 6284 |
| Woodwind | 9557 | 3504 | 13062 | 9271 | 3504 | 12775 |
| Wynde | 4684 | 4024 | 8708 | 6146 | 4024 | 10170 |
| Wyndhurst | 6881 | 4257 | 11138 | 11039 | 4257 | 15296 |
| Zane | 3734 | 2241 | 5974 | 3338 | 2241 | 5578 |
|  | $**677684** | $**379050** | $**1056734** | $**600592** | $**313879** | $**914471** |

---

***Other Expenses (Income)***

During the six months ended June 30, 2025 and 2024, some series incurred interest expenses, including mortgage interest and amortization of loan fees. The following table summarizes the total of such expenses incurred by each series:

---

| | | |
|:---|:---|:---|
| **OTHER EXPENSES** | **OTHER EXPENSES** | **OTHER EXPENSES** |
| **Series Name** | **June 30,<br> 2025** | **June 30,<br> 2024** |
| Adams | $540 | $- |
| Antares |  |  |
| Aramis |  |  |
| Arkoma |  |  |
| Arya | 164 |  |
| Aspen |  |  |
| Athos |  |  |
| Barclay |  |  |
| Bayne | 2260 |  |
| Bean |  |  |
| Bennett |  |  |
| Benny |  |  |
| Bluebell |  |  |
| Bowling |  |  |
| Boxwood | 3080 |  |
| Bradford |  |  |
| Brookwood |  |  |
| Bryant |  |  |
| Caden | 206 |  |
| Camellia |  |  |
| Caterpillar |  |  |
| Chilhowee |  |  |
| Claremore |  |  |
| Collinison |  |  |
| Cordero |  |  |
| Cristalino | 630 |  |
| Ellie |  |  |
| Emelina |  |  |
| Ethan | 488 |  |
| Frances |  |  |
| Glenncrest |  | 6314 |
| Gordon |  |  |
| Haikey |  |  |
| Hamblen |  |  |
| Hancock |  |  |
| Hardman |  |  |
| Haven | 182 |  |
| Haverhill |  |  |
| Haybridge |  |  |
| Hedgecrest |  |  |
| Helmerich |  |  |
| Hermanos | 245 |  |
| Holmes |  |  |
| Johnson |  | 191 |
| Keystone |  |  |
| Langley | 663 |  |
| Laurel |  | 7746 |
| Layla |  |  |
| Liberty | 300 |  |
| Lithonia | 911 |  |
| Lola |  |  |
| Lucas |  |  |
| Macomber |  |  |
| Mallard |  |  |
| Marcy |  |  |
| Meridian |  |  |
| Metallo | 1657 |  |
| Misty |  |  |
| Montgomery | 401 | (6998) |
| Northbrook |  |  |
| Northridge |  |  |
| Oakland |  | 7656 |
| Palmore |  |  |
| Pebblestone |  |  |
| Perdita |  |  |
| Phoebe |  | 6011 |
| Pongo |  |  |
| Portsmouth |  |  |
| Presidio | 2576 |  |
| Rachel |  |  |
| Ratliff |  |  |
| Riverwood |  |  |
| Roanoke |  |  |
| Robinson |  |  |
| Ross |  |  |
| Sansa |  |  |
| Sedgefield |  | 7917 |
| Seneca |  |  |
| Sheezy |  |  |
| Sherwood |  |  |
| Spangler | 2489 |  |
| Summerglen |  |  |
| Tansel |  |  |
| Thomas |  |  |
| Tomlinson | 4156 |  |
| Tytus |  |  |
| Vanzant |  |  |
| Watson |  |  |
| Westhaven |  |  |
| Wheeler |  |  |
| Williamson | (15391) |  |
| Woodland |  |  |
| Woodwind |  |  |
| Wynde | 185 |  |
| Wyndhurst |  |  |
| Zane | - | - |
|  | $**5742** | $**28836** |

---

**Liquidity and Capital Resources**

From inception, our manager has financed the business activities of each series. Upon the first closing of a particular series offering, the manager is reimbursed out of the proceeds of the relevant offering. Until such time as the series have the capacity to generate cash flows from operations, our manager may cover any deficits through capital contributions, which may be reimbursed upon closing of the relevant offering.

***Cash and Cash Equivalent Balances***

Cash is held at the series level. Any material differences in cash balances are the result of cash received from net proceeds from operations, financing received from the issuance of membership interests from each Series, and receipts and/or repayments of amounts due to related parties.

The following table summarizes the cash and cash equivalents by series as of June 30, 2025 and 2024:

---

| | | |
|:---|:---|:---|
| **Cash & Cash Equivalents** | **Cash & Cash Equivalents** | **Cash & Cash Equivalents** |
| **Series Name** | **June 30,<br> 2025** | **June 30,<br> 2024** |
| Adams | $17485 | $- |
| Antares | 12843 | 16623 |
| Aramis | 8663 | 12427 |
| Arkoma | 22286 | 26145 |
| Arya | 4524 | 11256 |
| Aspen | 7133 | 4018 |
| Athos | 6895 | 15432 |
| Barclay | 23559 | 28936 |
| Bayne | 22002 |  |
| Bean | 10145 | 16857 |
| Bennett | 7979 | 10194 |
| Benny | 5584 | 8409 |
| Bluebell | 20269 | 27013 |
| Bowling | 5722 | 8379 |
| Boxwood | 17621 |  |
| Bradford | 22529 | 28340 |
| Brookwood | 6645 | 9487 |
| Bryant | 6253 | 11258 |
| Caden | 2454 | 10466 |
| Camellia | 6634 | 11257 |
| Caterpillar | 15159 | 19917 |
| Chilhowee | 11197 | 23015 |
| Claremore | 1938 | 12906 |
| Collinison | 15151 | 23438 |
| Cordero | 13669 | 20558 |
| Cristalino | 9990 | 9728 |
| Ellie | 3741 | 12958 |
| Emelina | 1822 | 3234 |
| Ethan | 3999 | 3849 |
| Frances | 15668 | 20960 |
| Glenncrest | 19188 | 18419 |
| Gordon | 13990 | 19530 |
| Haikey | 11577 | 17920 |
| Hamblen | 9320 | 16077 |
| Hancock | 5940 | 7963 |
| Hardman | 15178 | 21325 |
| Haven | 4082 | 9 |
| Haverhill | 7446 | 11998 |
| Haybridge | 17072 | 23442 |
| Hedgecrest | 15764 | 23414 |
| Helmerich | 16497 | 21581 |
| Hermanos | 7655 | 1278 |
| Holmes | 6909 | 14736 |
| Johnson | 21227 |  |
| Keystone | 12406 | 18897 |
| Langley | 14109 |  |
| Laurel | 21939 | 24092 |
| Layla | 10680 | 17971 |
| Liberty | 5048 | 11891 |
| Lithonia | 8548 | 9279 |
| Lola | 15236 | 22569 |
| Lucas | 7266 | 21369 |
| Macomber | 8750 | 15211 |
| Mallard | 12876 | 17842 |
| Marcy | 8616 | 13554 |
| Meridian | 5068 | 7621 |
| Metallo | 14755 |  |
| Misty | 24349 |  |
| Montgomery | 6446 | 12440 |
| Northbrook | 13717 | 17710 |
| Northridge | 16869 | 27043 |
| Oakland | 15870 | 3348 |
| Palmore | 621 | 2819 |
| Pebblestone | 10139 | 17509 |
| Perdita | 20443 | 25798 |
| Phoebe | 13488 | 19821 |
| Pongo | 23159 | 27673 |
| Portsmouth | 5760 | 12100 |
| Presidio | 11816 |  |
| Rachel | 10817 | 20240 |
| Ratliff | 11584 | 16857 |
| Riverwood | 6820 | 12535 |
| Roanoke | 16273 | 27081 |
| Robinson | 27059 |  |
| Ross | 18665 | 26242 |
| Sansa | 11900 | 15349 |
| Sedgefield | 30074 |  |
| Seneca | 22344 |  |
| Sheezy | 12165 | 17951 |
| Sherwood | 7321 | 11038 |
| Spangler | 17837 |  |
| Summerglen | 7743 | 10554 |
| Tansel | 5580 | 9201 |
| Thomas | 4986 | 13481 |
| Tomlinson | 5054 |  |
| Tytus | 16294 | 23066 |
| Vanzant | 12798 | 17827 |
| Watson | 13357 | 16109 |
| Westhaven | 4451 | 13708 |
| Wheeler | 14353 | 17896 |
| Williamson | 8250 | 24323 |
| Woodland | 4572 | 5938 |
| Woodwind | 2277 | 5690 |
| Wynde | 6294 | 346 |
| Wyndhurst | 19438 | 25252 |
| Zane | 14652 | 20105 |
|  | $**1142331** | $**1302096** |

---

**Plan of Operations**

We intend to hold and manage the series properties for five to seven years during which time we will operate the series properties as single-family rental income properties. During this period, we intend to distribute any Free Cash Flow to investors.

As each of our properties reaches what we believe to be its optimum value, we will consider disposing of the property. The determination of when a particular property should be sold or otherwise disposed of will be made after consideration of relevant factors, including prevailing and projected economic conditions, whether the value of the property is anticipated to appreciate or decline substantially, local regulatory changes, environmental and other factors that may reduce the desirability of single-family rentals in a particular market, and how operating history may impact the potential sales price. The manager may determine that it is in the best interests of members to sell a property earlier than five years or to hold a property for more than seven years.

We plan to launch a number of additional series and related offerings in the next twelve months. As of the current date, we do not know how many series we will be offering. However, in any case, the aggregate dollar amount of all of the series interests that we will sell within the 12-month period will not exceed the maximum amount allowed under Regulation A. It is anticipated that the proceeds from any offerings closed during the next twelve months will be used to acquire additional properties.

**Our Policies for Approving New Tenants** 

We intend to seek out tenants for our properties who are financially responsible and capable of paying their rent. We will conduct due diligence on prospective tenant applicants by (a) verifying their incomes, (b) running credit checks, (c) performing criminal background checks, and (d) requesting references from previous landlords. While we do not have specific standards for any of these items, we will use these screening methods to determine, prior to approving a lease, whether we believe a potential lessee is financially responsible.

 

**Trend Information**

Our results of operations are affected by a variety of factors, including conditions in the financial markets and the economic and political environments, particularly in the United States. Global economic conditions, including political environments, financial market performance, interest rates, credit spreads or other conditions beyond our control are unpredictable and could negatively affect the value of the series properties, our ability to acquire and manage single family rentals and the success of our current and future offerings. In addition to the aforementioned macroeconomic trends, we believe the following factors will influence our future performance:

- Elevated interest rates or fluctuations in interest rates may have a negative effect on the demand for our offerings due to the attractiveness of alternative investments.

- The continuing increase in prices in the United States housing market may result in difficulties in sourcing properties and meeting demand for our offerings.

- Sustained levels of remote and hybrid work arrangements may lead to greater rental activity in our target markets.

**ITEM 2. OTHER INFORMATION**

None.

**ITEM 3. FINANCIAL STATEMENTS**

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**UNAUDITED CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS**

**AS OF AND FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024**

---

| | |
|:---|:---|
| [CONSOLIDATED AND CONSOLIDATING BALANCE SHEET AS OF JUNE 30, 2025 (UNAUDITED)](#f_001) | F-2 |
| [CONSOLIDATED AND CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2024 (DERIVED FROM AUDITED FINANCIAL STATEMENTS)](#f_002) | F-13 |
| [CONSOLIDATED AND CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) FOR THE SIX MONTHS ENDED JUNE 30, 2025 (UNAUDITED)](#f_003) | F-24 |
| [CONSOLIDATED AND CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) FOR THE SIX MONTHS ENDED JUNE 30, 2024 (UNAUDITED)](#f_004) | F-35 |
| [CONSOLIDATED AND CONSOLIDATING STATEMENTS OF CHANGES IN MEMBERS' EQUITY (DEFICIT) FOR THE SIX MONTHS ENDED JUNE 30, 2025 (UNAUDITED)](#f_005) | F-45 |
| [CONSOLIDATED AND CONSOLIDATING STATEMENTS OF CHANGES IN MEMBERS' EQUITY (DEFICIT) FOR THE SIX MONTHS ENDED JUNE 30, 2024 (UNAUDITED)](#f_006) | F-56 |
| [CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2025 (UNAUDITED)](#f_007) | F-66 |
| [CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2024 (UNAUDITED)](#f_008) | F-77 |
| [NOTES TO CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS](#f_009) | F-87 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Adams** | **Antares** | **Aramis** | **Arkoma** | **Arya** | **Aspen** | **Athos** | **Barclay** | **Bayne** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $17485 | $12843 | $8663 | $22286 | $4524 | $7133 | $6895 | $23559 | $22002 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses |  | 104 | 101 | 82 |  | 234 | 101 | 102 |  |
| &nbsp;&nbsp;&nbsp;Due from related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from third party property manager | 3984 | 4426 | 5646 | 2181 | 2720 | 3851 | 4400 | 1885 | 5238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 21469 | 17373 | 14409 | 24549 | 7244 | 11217 | 11396 | 25546 | 27240 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 302632 | 295138 | 285866 | 224426 | 173065 | 253848 | 280783 | 291051 | 346480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $324101 | $312510 | $300275 | $248975 | $180309 | $265065 | $292179 | $316597 | $373720 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | $2929 | $2828 | $3047 | $2654 | $1897 | $2549 | $4614 | $2461 | $3209 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 1315 | 3421 | 3479 | 2738 | 2077 | 4235 | 3378 | 3554 | 1302 |
| &nbsp;&nbsp;&nbsp;Due to third party property manager | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 4243 | 6250 | 6527 | 5392 | 3974 | 6784 | 7992 | 6015 | 4511 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 2595 | 2395 | 3790 | 1595 | 1395 | 1795 | 4190 |  | 2745 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | - | - | - | 6000 | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 6838 | 8645 | 10317 | 6987 | 11369 | 8579 | 12182 | 6015 | 7256 |
| Members' equity: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 330509 | 314798 | 306212 | 237796 | 190950 | 271762 | 299417 | 303691 | 379736 |
| &nbsp;&nbsp;&nbsp;Retained earnings <br> (accumulated deficit) | (13247) | (10932) | (16254) | 4192 | (22010) | (15276) | (19420) | 6892 | (13272) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total members' equity | 317263 | 303866 | 289958 | 241988 | 168940 | 256486 | 279997 | 310583 | 366464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and <br> members' equity | $324101 | $312510 | $300275 | $248975 | $180309 | $265065 | $292179 | $316597 | $373720 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Bean** | **Bennett** | **Benny** | **Bluebell** | **Bowling** | **Boxwood** | **Bradford** | **Brookwood** | **Bryant** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $10145 | $7979 | $5584 | $20269 | $5722 | $17621 | $22529 | $6645 | $6253 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses |  | 196 | 952 | 101 | 769 |  | 102 | 257 | 95 |
| &nbsp;&nbsp;&nbsp;Due from related party |  |  |  |  |  | 2646 |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from third party property manager | 4179 | 3583 | 3549 | 4305 | 2119 | 6417 | 3929 | 3847 | 4129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 14325 | 11757 | 10084 | 24675 | 8610 | 26685 | 26560 | 10749 | 10476 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 282009 | 200792 | 241707 | 284796 | 196996 | 319930 | 289244 | 265908 | 269218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $296334 | $212549 | $251792 | $309471 | $205606 | $346615 | $315804 | $276657 | $279694 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | $3024 | $1931 | $3342 | $3622 | $2026 | $3570 | $2470 | $3034 | $4409 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 3411 | 3161 | 3752 | 3485 | 3212 |  | 3522 | 4097 | 3972 |
| &nbsp;&nbsp;&nbsp;Due to third party property manager | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 6435 | 5092 | 7094 | 7107 | 5237 | 3570 | 5992 | 7131 | 8381 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 2145 | 1695 | 1795 | 2345 |  | 4390 | 2145 | 1795 | 2095 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 8580 | 6787 | 8889 | 9452 | 5237 | 7960 | 8137 | 8926 | 10476 |
| Members' equity: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 291287 | 202832 | 255151 | 297838 | 197764 | 354020 | 309519 | 272415 | 276594 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (3533) | 2931 | (12248) | 2181 | 2604 | (15366) | (1852) | (4685) | (7376) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total members' equity | 287754 | 205763 | 242903 | 300018 | 200369 | 338655 | 307667 | 267730 | 269218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and members' equity | $296334 | $212549 | $251792 | $309471 | $205606 | $346615 | $315804 | $276657 | $279694 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Caden** | **Camellia** | **Caterpillar** | **Chilhowee** | **Claremore** | **Collinison** | **Cordero** | **Cristalino** | **Ellie** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $2454 | $6634 | $15159 | $11197 | $1938 | $15151 | $13669 | $9990 | $3741 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 607 | 258 |  | 673 | 79 |  | 161 | 384 |  |
| &nbsp;&nbsp;&nbsp;Due from related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from third party property manager | 3719 | 4079 | - | 4628 | 3172 | 4207 | 4431 | 5170 | 1587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 6780 | 10971 | 15159 | 16498 | 5189 | 19358 | 18262 | 15544 | 5327 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 236607 | 248899 | 285919 | 305234 | 223563 | 295759 | 259810 | 290830 | 276385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $243387 | $259870 | $301078 | $321732 | $228752 | $315117 | $278072 | $306374 | $281712 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | $1950 | $2920 | $4217 | $1830 | $2657 | $2215 | $2832 | $3830 | $3339 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 3793 | 3757 | 3422 | 4891 | 3336 | 3042 | 3644 | 4554 | 10332 |
| &nbsp;&nbsp;&nbsp;Due to third party property manager | - | - | 1368 | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 5743 | 6677 | 9006 | 6722 | 5993 | 5258 | 6477 | 8385 | 13671 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 2393 | 1795 | 1795 | 2395 | 1745 | 2095 | 2495 | 2995 |  |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | 5500 | - | - | - | - | - | - | 16800 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 13636 | 8472 | 10801 | 9117 | 7738 | 7353 | 8972 | 28180 | 13671 |
| Members' equity: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 254519 | 252712 | 318935 | 312686 | 240109 | 310694 | 273754 | 320502 | 301697 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (24768) | (1313) | (28659) | (70) | (19095) | (2930) | (4654) | (42308) | (33655) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total members' equity | 229751 | 251399 | 290276 | 312616 | 221014 | 307764 | 269100 | 278194 | 268041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and members' equity | $243387 | $259870 | $301078 | $321732 | $228752 | $315117 | $278072 | $306374 | $281712 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Emelina** | **Ethan** | **Frances** | **Glenncrest** | **Gordon** | **Haikey** | **Hamblen** | **Hancock** | **Hardman** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $1822 | $3999 | $15668 | $19188 | $13990 | $11577 | $9320 | $5940 | $15178 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 261 | 138 |  |  | 176 |  | 635 | 93 |  |
| &nbsp;&nbsp;&nbsp;Due from related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from third party property manager | 1595 | 2822 | 4149 | 3620 | 3562 | 3295 | 2045 | 2897 | 4724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 3678 | 6959 | 19818 | 22807 | 17729 | 14872 | 12000 | 8930 | 19902 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 239626 | 194782 | 269675 | 280036 | 242922 | 233485 | 243339 | 259669 | 374580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $243304 | $201741 | $289492 | $302843 | $260651 | $248357 | $255338 | $268599 | $394483 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | $2598 | $2318 | $1859 | $2160 | $2792 | $3161 | $2278 | $2922 | $3055 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 3809 | 2793 | 2834 | 2121 | 2995 | 3484 | 3577 | 3974 | 3853 |
| &nbsp;&nbsp;&nbsp;Due to third party property manager | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 6407 | 5111 | 4693 | 4281 | 5786 | 6646 | 5855 | 6897 | 6908 |
| &nbsp;&nbsp;&nbsp;Tenant deposits |  | 1475 | 2245 | 3990 | 1895 | 1795 | 2095 | 2045 | 2495 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | 13000 | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 6407 | 19586 | 6938 | 8271 | 7681 | 8441 | 7950 | 8942 | 9403 |
| Members' equity: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 246886 | 201830 | 276307 | 298148 | 257678 | 240492 | 249004 | 267654 | 383904 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (9990) | (19676) | 6247 | (3576) | (4708) | (576) | (1616) | (7996) | 1175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total members' equity | 236897 | 182155 | 282554 | 294572 | 252970 | 239916 | 247388 | 259658 | 385080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and members' equity | $243304 | $201741 | $289492 | $302843 | $260651 | $248357 | $255338 | $268599 | $394483 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Haven** | **Haverhill** | **Haybridge** | **Hedgecrest** | **Helmerich** | **Hermanos** | **Holmes** | **Johnson** | **Keystone** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $4082 | $7446 | $17072 | $15764 | $16497 | $7655 | $6909 | $21227 | $12406 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 882 | 257 |  |  | 84 | 1320 | 110 |  |  |
| &nbsp;&nbsp;&nbsp;Due from related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from third party property manager | 2260 | 1935 | 5805 | 3467 | 3134 | 5325 | - | 5023 | 5060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 7224 | 9637 | 22877 | 19231 | 19714 | 14299 | 7019 | 26250 | 17466 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 175457 | 222495 | 345979 | 351647 | 239483 | 300414 | 166927 | 321313 | 336279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $182681 | $232132 | $368856 | $370878 | $259197 | $314713 | $173946 | $347563 | $353745 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | $1661 | $3018 | $2581 | $2571 | $2759 | $3954 | $1783 | $2708 | $2871 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 2875 | 3403 | 3565 | 3524 | 3558 | 4671 | 2528 | 2218 | 3510 |
| &nbsp;&nbsp;&nbsp;Due to third party property manager | - | - | - | - | - | - | 1324 | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 4536 | 6421 | 6146 | 6094 | 6317 | 8624 | 5635 | 4927 | 6381 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 1495 | 1745 | 3990 | 1995 | 2095 | 3293 |  | 2645 | 2295 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | 5700 | - | - | - | - | 7700 | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 11731 | 8166 | 10136 | 8089 | 8412 | 19617 | 5635 | 7572 | 8676 |
| Members' equity: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 183315 | 234216 | 372108 | 371094 | 249455 | 315790 | 173140 | 344323 | 344409 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (12365) | (10250) | (13389) | (8305) | 1330 | (20693) | (4829) | (4332) | 659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total members' equity | 170950 | 223966 | 358719 | 362789 | 250785 | 295096 | 168312 | 339991 | 345069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and members' equity | $182681 | $232132 | $368856 | $370878 | $259197 | $314713 | $173946 | $347563 | $353745 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Langley** | **Laurel** | **Layla** | **Liberty** | **Lithonia** | **Lola** | **Lucas** | **Macomber** | **Mallard** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $14109 | $21939 | $10680 | $5048 | $8548 | $15236 | $7266 | $8750 | $12876 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses |  |  |  | 86 | 260 |  | 87 | 94 | 123 |
| &nbsp;&nbsp;&nbsp;Due from related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from third party property manager | 5425 | 4628 | 4867 | 4296 | 6335 | 4364 | 3664 | 4574 | 2569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 19534 | 26567 | 15547 | 9430 | 15142 | 19600 | 11017 | 13418 | 15567 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 329953 | 326144 | 313189 | 253661 | 276380 | 291473 | 246245 | 265120 | 197941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $349486 | $352711 | $328737 | $263091 | $291522 | $311073 | $257262 | $278537 | $213508 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | $1208 | $3077 | $2356 | $3910 | $3435 | $2175 | $4217 | $4420 | $2043 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 3550 | 2594 | 3582 | 2946 | 4137 | 3347 | 2999 | 3231 | 2420 |
| &nbsp;&nbsp;&nbsp;Due to third party property manager | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 4758 | 5671 | 5938 | 6857 | 7572 | 5522 | 7216 | 7651 | 4463 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 2995 | 2295 | 2695 | 2395 | 3990 | 2345 | 2395 | 2445 | 2195 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | - | - | 8000 | 24300 | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 7753 | 7966 | 8633 | 17252 | 35862 | 7867 | 9611 | 10096 | 6658 |
| Members' equity: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 358289 | 348795 | 325403 | 259028 | 294095 | 302168 | 264335 | 279299 | 205479 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (16556) | (4049) | (5299) | (13188) | (38435) | 1038 | (16684) | (10857) | 1371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total members' equity | 341734 | 344745 | 320104 | 245840 | 255660 | 303206 | 247651 | 268442 | 206851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and <br> members' equity | $349486 | $352711 | $328737 | $263091 | $291522 | $311073 | $257262 | $278537 | $213508 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Marcy** | **Meridian** | **Metallo** | **Misty** | **Montgomery** | **Northbrook** | **Northridge** | **Oakland** | **Palmore** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $8616 | $5068 | $14755 | $24349 | $6446 | $13717 | $16869 | $15870 | $621 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses |  | 181 |  |  | 129 |  |  |  | 2101 |
| &nbsp;&nbsp;&nbsp;Due from related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from third party property manager | 3396 | 3568 | - | 7760 | 3980 | 3901 | 2150 | 4586 | 1461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 12012 | 8817 | 14755 | 32109 | 10555 | 17618 | 19019 | 20456 | 4182 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 173065 | 257644 | 291842 | 341269 | 204611 | 272321 | 251896 | 296240 | 194397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $185077 | $266461 | $306597 | $373378 | $215166 | $289940 | $270915 | $316696 | $198579 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | $2113 | $2295 | $3040 | $3262 | $2374 | $3375 | $2763 | $2073 | $1535 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 2080 | 3096 | 1260 | 1646 | 3065 | 2855 | 2665 | 2185 | 2985 |
| &nbsp;&nbsp;&nbsp;Due to third party property manager | - | - | 1617 | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 4193 | 5391 | 5918 | 4908 | 5439 | 6231 | 5428 | 4258 | 4521 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 2690 | 1850 |  | 5190 | 2468 | 1895 | 2543 | 2445 | 1645 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | - | - | - | 10700 | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 6883 | 7241 | 5918 | 10098 | 18606 | 8126 | 7970 | 6703 | 6166 |
| Members' equity: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 185148 | 269493 | 324636 | 370084 | 215895 | 289663 | 277914 | 320092 | 203876 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (6954) | (10274) | (23956) | (6803) | (19335) | (7850) | (14970) | (10100) | (11463) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total members' equity | 178194 | 259219 | 300680 | 363280 | 196559 | 281814 | 262945 | 309993 | 192413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and members' equity | $185077 | $266461 | $306597 | $373378 | $215166 | $289940 | $270915 | $316696 | $198579 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Pebblestone** | **Perdita** | **Phoebe** | **Pongo** | **Portsmouth** | **Presidio** | **Rachel** | **Ratliff** | **Riverwood** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $10139 | $20443 | $13488 | $23159 | $5760 | $11816 | $10817 | $11584 | $6820 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses |  | 110 |  | 110 | 134 |  |  |  | 98 |
| &nbsp;&nbsp;&nbsp;Due from related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from third party property manager | 5034 | 3920 | 4023 | 5168 | 5174 | 3336 | 3862 | 3732 | 4326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 15173 | 24473 | 17511 | 28436 | 11068 | 15152 | 14679 | 15315 | 11243 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 326257 | 315427 | 268210 | 315427 | 207909 | 238037 | 279340 | 308330 | 279970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $341430 | $339900 | $285721 | $343863 | $218977 | $253190 | $294019 | $323645 | $291214 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | $2889 | $2578 | $2187 | $2578 | $2355 | $2439 | $1360 | $1693 | $3467 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 3377 | 3817 | 2121 | 3825 | 3345 | 6068 | 2923 | 3527 | 3434 |
| &nbsp;&nbsp;&nbsp;Due to third party property manager | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 6266 | 6394 | 4308 | 6402 | 5700 | 8506 | 4283 | 5220 | 6901 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 2795 | 1995 | 2145 | 3143 | 2693 | 1745 | 1995 | 2345 | 1995 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 9061 | 8389 | 6453 | 9545 | 8393 | 10251 | 6278 | 7565 | 8896 |
| Members' equity: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 333470 | 335353 | 289323 | 333557 | 211719 | 267321 | 294748 | 322877 | 303050 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (1102) | (3842) | (10055) | 761 | (1134) | (24383) | (7007) | (6797) | (20732) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total members' equity | 332369 | 331511 | 279268 | 334318 | 210585 | 242939 | 287741 | 316080 | 282318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and members' equity | $341430 | $339900 | $285721 | $343863 | $218977 | $253190 | $294019 | $323645 | $291214 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Roanoke** | **Robinson** | **Ross** | **Sansa** | **Sedgefield** | **Seneca** | **Sheezy** | **Sherwood** | **Spangler** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $16273 | $27059 | $18665 | $11900 | $30074 | $22344 | $12165 | $7321 | $17837 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 1425 |  |  |  |  |  | 181 | 64 |  |
| &nbsp;&nbsp;&nbsp;Due from related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from third party property manager | 5038 | 4863 | 4770 | 2701 | 5182 | 4536 | 3759 | 1931 | 2596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 22735 | 31922 | 23435 | 14601 | 35256 | 26880 | 16105 | 9316 | 20433 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 319177 | 318365 | 322274 | 173065 | 286437 | 291461 | 219547 | 165872 | 384216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $341912 | $350287 | $345710 | $187666 | $321693 | $318341 | $235652 | $175188 | $404649 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | $- | $3039 | $2102 | $2244 | $2654 | $2928 | $2452 | $1767 | $3457 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 3883 | 1712 | 3355 | 2067 | 2048 | 1738 | 3579 | 2115 | 1390 |
| &nbsp;&nbsp;&nbsp;Due to third party property manager | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 3883 | 4751 | 5458 | 4311 | 4702 | 4666 | 6031 | 3881 | 4846 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 2495 | 2595 | 2545 | 1395 | 3243 | 2695 | 2045 | 1395 |  |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 6378 | 7346 | 8003 | 5706 | 7945 | 7361 | 8076 | 5276 | 4846 |
| Members' equity: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 332555 | 347939 | 333921 | 182833 | 324963 | 316878 | 220316 | 179890 | 424786 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | 2979 | (4998) | 3786 | (873) | (11215) | (5897) | 7260 | (9979) | (24984) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total members' equity | 335535 | 342942 | 337707 | 181960 | 313748 | 310980 | 227576 | 169911 | 399803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and members' equity | $341912 | $350287 | $345710 | $187666 | $321693 | $318341 | $235652 | $175188 | $404649 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Summerglen** | **Tansel** | **Thomas** | **Tomlinson** | **Tytus** | **Vanzant** | **Watson** | **Westhaven** | **Wheeler** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $7743 | $5580 | $4986 | $5054 | $16294 | $12798 | $13357 | $4451 | $14353 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 149 | 110 | 203 |  | 89 |  | 110 | 158 | 129 |
| &nbsp;&nbsp;&nbsp;Due from related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from third party property manager | 4179 | 1729 | 1815 | 3939 | 4370 | 4001 | 2710 | 4086 | 3610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 12071 | 7419 | 7004 | 8993 | 20753 | 16799 | 16178 | 8695 | 18093 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 229797 | 309567 | 208028 | 241168 | 247555 | 342390 | 166927 | 242072 | 197635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $241868 | $316987 | $215032 | $250161 | $268307 | $359189 | $183105 | $250766 | $215727 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | $2752 | $3193 | $2232 | $2589 | $3189 | $4902 | $1783 | $3189 | $2026 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 3575 | 3778 | 3575 | 865 | 3059 | 3540 | 2569 | 3762 | 3033 |
| &nbsp;&nbsp;&nbsp;Due to third party property manager | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 6326 | 6971 | 5807 | 3455 | 6249 | 8442 | 4352 | 6951 | 5059 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 1795 |  | 1795 | 2250 | 2495 | 2695 | 1395 | 2145 | 1649 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 8121 | 6971 | 7602 | 5705 | 8744 | 11137 | 5747 | 9096 | 6708 |
| Members' equity: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 235765 | 336079 | 210273 | 275872 | 256998 | 357090 | 173953 | 253341 | 200633 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (2018) | (26063) | (2842) | (31415) | 2566 | (9039) | 3406 | (11671) | 8386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total members' equity | 233747 | 310016 | 207430 | 244456 | 259564 | 348052 | 177358 | 241670 | 209019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and members' equity | $241868 | $316987 | $215032 | $250161 | $268307 | $359189 | $183105 | $250766 | $215727 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |<br>**Williamson** |<br>**Woodland** |<br>**Woodwind** |<br>**Wynde** |<br>**Wyndhurst** |<br>**Zane** | **Total**<br>**Consolidated** |
| **ASSETS** | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $8250 | $4572 | $2277 | $6294 | $19438 | $14652 | $1142331 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 1410 | 84 | 234 | 86 |  | 60 | 17320 |
| &nbsp;&nbsp;&nbsp;Due from related party |  |  |  |  |  |  | 2646 |
| &nbsp;&nbsp;&nbsp;Due from third party property manager | 3716 | 2322 | 1889 | 4739 | 3350 | 2384 | 356410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 13377 | 6977 | 4400 | 11119 | 22788 | 17096 | 1518708 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 273179 | 156612 | 241789 | 241252 | 299406 | 155356 | 25380445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $286556 | $163589 | $246189 | $252371 | $322194 | $172452 | $26899153 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | $- | $1896 | $2368 | $2940 | $1964 | $1955 | $255288 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 3228 | 1949 | 6988 | 3573 | 3108 | 1898 | 307645 |
| &nbsp;&nbsp;&nbsp;Due to third party property manager | - | - | - | - | - | - | 4309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 3228 | 3845 | 9356 | 6513 | 5072 | 3853 | 567243 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 3543 | 1295 |  | 2645 | 1745 | 1275 | 204654 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | - | - | 5800 | - | - | 103500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 6771 | 5140 | 9356 | 14958 | 6817 | 5128 | 875397 |
| Members' equity: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 281412 | 165075 | 254523 | 251199 | 324911 | 165800 | 26879764 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (1627) | (6626) | (17691) | (13786) | (9534) | 1524 | (856008) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total members' equity | 279785 | 158449 | 236833 | 237413 | 315377 | 167325 | 26023756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and members' equity | $286556 | $163589 | $246189 | $252371 | $322194 | $172452 | $26899153 |

---

See the accompanying notes to these consolidated and consolidating financial statements.

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)**

**AS OF DECEMBER 31, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Adams** | **Antares** | **Aramis** | **Arkoma** | **Arya** | **Aspen** | **Athos** | **Barclay** | **Bayne** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $- | $12203 | $7204 | $23313 | $2277 | $3249 | $9313 | $24025 | $- |
| &nbsp;&nbsp;&nbsp;Prepaid expenses |  | 499 | 551 | 438 | 277 | 633 | 1623 | 465 |  |
| &nbsp;&nbsp;&nbsp;Due from related parties |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from (to) third party property manager | 548 | 4379 | 5453 | 2770 | 2766 | 3778 | 3173 | 1925 | - |
| Total current assets | 548 | 17082 | 13209 | 26522 | 5320 | 7660 | 14110 | 26415 |  |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 306829 | 299395 | 289989 | 227671 | 175531 | 257527 | 285361 | 295259 | 351287 |
| Total assets | $307377 | $316476 | $303197 | $254193 | $180851 | $265187 | $299471 | $321674 | $351287 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 4871 | 3092 | 2964 | 3796 | 2375 | 2399 | 8074 | 3518 | 4831 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 2345 | 2395 | 3790 | 1595 | 1395 | 1795 | 4190 |  |  |
| &nbsp;&nbsp;&nbsp;Bridge financing, related party | 288000 |  |  |  |  |  |  |  | 328683 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 20263 | 2341 | 2437 | 1893 | 6278 | 4610 | 1505 | 2453 | 25894 |
| Total current liabilities | 315479 | 7828 | 9191 | 7284 | 10048 | 8804 | 13770 | 5971 | 359409 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | - | - | - | - | - | - | - | - |
| Total liabilities | 315479 | 7828 | 9191 | 7284 | 10048 | 8804 | 13770 | 5971 | 359409 |
| Members' equity |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 3000 | 321862 | 312136 | 243635 | 195041 | 276262 | 304467 | 311399 |  |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (11102) | (13214) | (18129) | 3274 | (24237) | (19879) | (18766) | 4304 | (8122) |
| Total members' equity | (8102) | 308648 | 294006 | 246908 | 170803 | 256383 | 285701 | 315703 | (8122) |
| Total liabilities and members' equity | $307377 | $316476 | $303197 | $254193 | $180851 | $265187 | $299471 | $321674 | $351287 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)**

**AS OF DECEMBER 31, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Bean** | **Bennett** | **Benny** | **Bluebell** | **Bowling** | **Boxwood** | **Bradford** | **Brookwood** | **Bryant** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $11429 | $7455 | $3024 | $19029 | $5720 | $- | $22583 | $6608 | $8432 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 450 | 507 | 1892 | 541 | 1116 |  | 458 | 591 | 1347 |
| &nbsp;&nbsp;&nbsp;Due from related parties |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from (to) third party property manager | 4206 | 3192 | 3586 | 4258 | 2016 | - | 3929 | 3849 | 4300 |
| Total current assets | 16085 | 11154 | 8503 | 23828 | 8851 |  | 26970 | 11047 | 14079 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 286038 | 203702 | 245210 | 288903 | 199858 | 324350 | 293425 | 269761 | 273609 |
| Total assets | $302123 | $214856 | $253713 | $312731 | $208709 | $324350 | $320395 | $280808 | $287689 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 5100 | 3050 | 2432 | 2938 | 2808 | 5161 | 3288 | 2668 | 8257 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 2145 | 1695 | 1795 | 2345 |  |  | 2145 | 1795 | 2095 |
| &nbsp;&nbsp;&nbsp;Bridge financing, related party |  |  |  |  |  | 308000 |  |  |  |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 2425 | 1666 | 2796 | 2449 | 2159 | 16646 | 2285 | 4262 | 2300 |
| Total current liabilities | 9670 | 6410 | 7023 | 7732 | 4967 | 329807 | 7718 | 8725 | 12652 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | - | - | - | - | - | - | - | - |
| Total liabilities | 9670 | 6410 | 7023 | 7732 | 4967 | 329807 | 7718 | 8725 | 12652 |
| Members' equity |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 298518 | 208908 | 259416 | 305649 | 203219 |  | 316782 | 278625 | 282322 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (6065) | (463) | (12727) | (650) | 524 | (5457) | (4105) | (6542) | (7286) |
| Total members' equity | 292453 | 208445 | 246690 | 304999 | 203742 | (5457) | 312677 | 272083 | 275037 |
| Total liabilities and members' equity | $302123 | $214856 | $253713 | $312731 | $208709 | $324350 | $320395 | $280808 | $287689 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)**

**AS OF DECEMBER 31, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Caden** | **Camellia** | **Caterpillar** | **Chilhowee** | **Claremore** | **Collinison** | **Cordero** | **Cristalino** | **Ellie** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $1152 | $5838 | $11778 | $12661 | $- | $24688 | $14543 | $6894 | $4683 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 1013 | 667 | 1772 | 1185 | 790 | 414 | 501 | 944 | 482 |
| &nbsp;&nbsp;&nbsp;Due from related parties |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from (to) third party property manager | 1370 | 4258 | 3624 | 2355 | 2097 | 558 | 4390 | 5553 | 2092 |
| Total current assets | 3535 | 10764 | 17174 | 16200 | 2887 | 25660 | 19434 | 13391 | 7257 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 240044 | 253710 | 290043 | 309705 | 226795 | 295285 | 263670 | 295055 | 280333 |
| Total assets | $243580 | $264474 | $307216 | $325905 | $229682 | $320945 | $283104 | $308446 | $287590 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 1533 | 2720 | 2251 | 3821 | 2780 | 4542 | 4368 | 4984 | 2001 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 2393 | 1795 | 1795 | 2395 | 1745 | 2095 | 2495 | 2995 | 2445 |
| &nbsp;&nbsp;&nbsp;Bridge financing, related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 1969 | 2525 | 2322 | 3595 | 2138 | 1694 | 2616 | 3480 | 2467 |
| Total current liabilities | 5895 | 7039 | 6368 | 9811 | 6663 | 8330 | 9479 | 11459 | 6913 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | 5500 | - | - | - | - | - | - | 16800 | - |
| Total liabilities | 11395 | 7039 | 6368 | 9811 | 6663 | 8330 | 9479 | 28259 | 6913 |
| Members' equity |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 256781 | 259274 | 322402 | 319764 | 243056 | 315642 | 281147 | 326259 | 302667 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (24596) | (1840) | (21554) | (3670) | (20037) | (3027) | (7522) | (46071) | (21990) |
| Total members' equity | 232185 | 257434 | 300848 | 316094 | 223019 | 312615 | 273626 | 280188 | 280678 |
| Total liabilities and members' equity | $243580 | $264474 | $307216 | $325905 | $229682 | $320945 | $283104 | $308446 | $287590 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)**

**AS OF DECEMBER 31, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Emelina** | **Ethan** | **Frances** | **Glenncrest** | **Gordon** | **Haikey** | **Hamblen** | **Hancock** | **Hardman** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $3176 | $3281 | $19302 | $18053 | $14335 | $10753 | $13581 | $7665 | $18728 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 687 | 483 | 376 | 418 | 552 | 738 | 1038 | 570 | 406 |
| &nbsp;&nbsp;&nbsp;Due from related parties |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from (to) third party property manager | 3878 | 2378 | 4154 | 5781 | 3815 | 3511 | 4184 | 4837 | 5009 |
| Total current assets | 7741 | 6142 | 23833 | 24252 | 18702 | 15002 | 18803 | 13071 | 24143 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 243748 | 198929 | 273512 | 284027 | 246434 | 236852 | 246865 | 263896 | 379906 |
| Total assets | $251488 | $205071 | $297345 | $308279 | $265137 | $251854 | $265668 | $276967 | $404049 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 2506 | 2463 | 4901 | 3437 | 2949 | 2647 | 5338 | 3565 | 6713 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 2195 | 1475 | 2245 | 3990 | 1895 | 1795 | 2095 | 2045 | 2495 |
| &nbsp;&nbsp;&nbsp;Bridge financing, related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 4744 | 2320 | 1851 | 100 | 2076 | 2129 | 2581 | 6373 | 2584 |
| Total current liabilities | 9445 | 6259 | 8997 | 7527 | 6920 | 6572 | 10014 | 11982 | 11792 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | 13000 | - | - | - | - | - | - | - |
| Total liabilities | 9445 | 19259 | 8997 | 7527 | 6920 | 6572 | 10014 | 11982 | 11792 |
| Members' equity |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 249907 | 204516 | 286202 | 305441 | 264497 | 246803 | 255098 | 275072 | 393337 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (7864) | (18704) | 2146 | (4690) | (6280) | (1521) | 556 | (10087) | (1080) |
| Total members' equity | 242043 | 185812 | 288348 | 300751 | 258217 | 245282 | 255655 | 264985 | 392257 |
| Total liabilities and members' equity | $251488 | $205071 | $297345 | $308279 | $265137 | $251854 | $265668 | $276967 | $404049 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)**

**AS OF DECEMBER 31, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Haven** | **Haverhill** | **Haybridge** | **Hedgecrest** | **Helmerich** | **Hermanos** | **Holmes** | **Johnson** | **Keystone** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $2123 | $6658 | $18262 | $16561 | $15946 | $6549 | $12837 | $23239 | $16296 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 1197 | 642 | 394 | 394 | 791 | 1784 | 385 |  | 539 |
| &nbsp;&nbsp;&nbsp;Due from related parties |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from (to) third party property manager | 2910 | 1885 | 3814 | 3920 | 3503 | 4808 | 2743 | 4864 | 2913 |
| Total current assets | 6230 | 9185 | 22471 | 20875 | 20240 | 13141 | 15965 | 28103 | 19748 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 178006 | 225720 | 350910 | 350910 | 242946 | 306328 | 169346 | 325823 | 341063 |
| Total assets | $184236 | $234905 | $373380 | $371785 | $263186 | $319468 | $185311 | $353926 | $360811 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 2388 | 1518 | 1280 | 2928 | 3168 | 4584 | 3102 | 5609 | 6396 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 1495 | 1745 |  | 1995 | 2095 | 3293 | 1395 | 2645 | 2295 |
| &nbsp;&nbsp;&nbsp;Bridge financing, related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 7690 | 2501 | 2559 | 2339 | 2138 | 11685 | 1846 | 971 | 2308 |
| Total current liabilities | 11573 | 5764 | 3840 | 7262 | 7402 | 19561 | 6343 | 9224 | 10999 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | - | - | - | - | - | - | - | - |
| Total liabilities | 11573 | 5764 | 3840 | 7262 | 7402 | 19561 | 6343 | 9224 | 10999 |
| Members' equity |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 187557 | 240619 | 377092 | 378190 | 255965 | 321198 | 176217 | 352751 | 353031 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (14893) | (11477) | (7552) | (13668) | (181) | (21291) | 2751 | (8050) | (3219) |
| Total members' equity | 172663 | 229141 | 369541 | 364523 | 255784 | 299907 | 178968 | 344701 | 349812 |
| Total liabilities and members' equity | $184236 | $234905 | $373380 | $371785 | $263186 | $319468 | $185311 | $353926 | $360811 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)**

**AS OF DECEMBER 31, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Langley** | **Laurel** | **Layla** | **Liberty** | **Lithonia** | **Lola** | **Lucas** | **Macomber** | **Mallard** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $- | $24838 | $14604 | $4897 | $6926 | $20051 | $15168 | $10353 | $11162 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses |  | 482 | 506 | 1186 | 674 | 415 | 1379 | 1464 | 477 |
| &nbsp;&nbsp;&nbsp;Due from related parties |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from (to) third party property manager | 869 | 4708 | 4856 | 4319 | 6186 | 4388 | 1662 | 4507 | 3921 |
| Total current assets | 869 | 30028 | 19966 | 10402 | 13786 | 24854 | 18209 | 16324 | 15560 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 334512 | 330775 | 317642 | 259206 | 281343 | 295617 | 250315 | 269405 | 200803 |
| Total assets | $335380 | $360803 | $337608 | $269608 | $295129 | $320471 | $268524 | $285729 | $216363 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 5524 | 5854 | 5282 | 6111 | 2379 | 4945 | 7547 | 8153 | 3100 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 2995 | 2295 | 2695 | 2395 | 3990 | 2345 |  | 2445 | 2195 |
| &nbsp;&nbsp;&nbsp;Bridge financing, related party | 318000 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 18665 | 1427 | 2485 | 1913 | 3000 | 2307 | 2100 | 1519 | 1544 |
| Total current liabilities | 345185 | 9576 | 10462 | 10420 | 9369 | 9598 | 9647 | 12118 | 6839 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | - | - | 8000 | 24300 | - | - | - | - |
| Total liabilities | 345185 | 9576 | 10462 | 18420 | 33669 | 9598 | 9647 | 12118 | 6839 |
| Members' equity |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 3644 | 358598 | 334437 | 263232 | 298733 | 311569 | 266178 | 285515 | 210878 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (13448) | (7371) | (7291) | (12043) | (37273) | (696) | (7301) | (11903) | (1354) |
| Total members' equity | (9804) | 351227 | 327146 | 251189 | 261460 | 310873 | 258877 | 273612 | 209524 |
| Total liabilities and members' equity | $335380 | $360803 | $337608 | $269608 | $295129 | $320471 | $268524 | $285729 | $216363 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)**

**AS OF DECEMBER 31, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Marcy** | **Meridian** | **Metallo** | **Misty** | **Montgomery** | **Northbrook** | **Northridge** | **Oakland** | **Palmore** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $10940 | $4306 | $- | $25490 | $4362 | $16387 | $19278 | $18656 | $4155 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 277 | 674 |  |  | 489 | 376 | 390 | 439 | 1520 |
| &nbsp;&nbsp;&nbsp;Due from related parties |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from (to) third party property manager | 4156 | 3602 | - | 5493 | 3557 | 4005 | 2002 | 4273 | 1545 |
| Total current assets | 15373 | 8581 |  | 30983 | 8408 | 20768 | 21671 | 23367 | 7220 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 175531 | 262135 | 295182 | 345992 | 208784 | 276193 | 255431 | 300462 | 197852 |
| Total assets | $190904 | $270716 | $295182 | $376975 | $217192 | $296961 | $277101 | $323829 | $205072 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 3166 | 3127 | 7777 | 1884 | 2263 | 6945 | 2928 | 4847 | 2654 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 2690 | 1850 |  | 5190 | 2468 | 1895 | 2543 | 2445 | 1645 |
| &nbsp;&nbsp;&nbsp;Bridge financing, related party |  |  | 284000 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 1335 | 2146 | 9429 | 1539 | 2264 | 1855 | 1479 | 1136 | 3743 |
| Total current liabilities | 7192 | 7123 | 301205 | 8612 | 6995 | 10695 | 6950 | 8428 | 8042 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | - | - | - | 10700 | - | - | - | - |
| Total liabilities | 7192 | 7123 | 301205 | 8612 | 17695 | 10695 | 6950 | 8428 | 8042 |
| Members' equity |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 191853 | 274857 | 1657 | 378527 | 219798 | 295899 | 283217 | 329278 | 205736 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (8141) | (11264) | (7680) | (10164) | (20300) | (9633) | (13066) | (13877) | (8706) |
| Total members' equity | 183713 | 263593 | (6023) | 368363 | 199498 | 286266 | 270152 | 315401 | 197030 |
| Total liabilities and members' equity | $190904 | $270716 | $295182 | $376975 | $217192 | $296961 | $277101 | $323829 | $205072 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)**

**AS OF DECEMBER 31, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Pebblestone** | **Perdita** | **Phoebe** | **Pongo** | **Portsmouth** | **Presidio** | **Rachel** | **Ratliff** | **Riverwood** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $14763 | $20002 | $17909 | $22874 | $8984 | $- | $17393 | $14030 | $7240 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 539 | 516 | 414 | 516 | 454 |  | 414 | 415 | 552 |
| &nbsp;&nbsp;&nbsp;Due from related parties |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from (to) third party property manager | 4926 | 3920 | 4008 | 5168 | 4386 | - | 4663 | 4329 | 4253 |
| Total current assets | 20228 | 24438 | 22331 | 28557 | 13824 |  | 22469 | 18774 | 12046 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 330898 | 319987 | 272028 | 319987 | 205252 | 241325 | 283311 | 312724 | 284990 |
| Total assets | $351127 | $344425 | $294359 | $348545 | $219076 | $241325 | $305781 | $331498 | $297036 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 6424 | 3322 | 5516 | 3438 | 3688 | 6735 | 4777 | 4750 | 2887 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 2795 | 1995 | 2145 | 3143 | 2693 |  | 3093 | 2345 | 1995 |
| &nbsp;&nbsp;&nbsp;Bridge financing, related party |  |  |  |  |  | 229000 |  |  |  |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 2246 | 2467 | 1119 | 2485 | 2384 | 21709 | 1899 | 2433 | 2243 |
| Total current liabilities | 11465 | 7784 | 8780 | 9065 | 8764 | 257445 | 9769 | 9529 | 7125 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | - | - | - | - | - | - | - | - |
| Total liabilities | 11465 | 7784 | 8780 | 9065 | 8764 | 257445 | 9769 | 9529 | 7125 |
| Members' equity |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 342191 | 342491 | 297169 | 341277 | 215255 |  | 302229 | 331424 | 309475 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (2529) | (5849) | (11590) | (1798) | (4943) | (16120) | (6217) | (9455) | (19564) |
| Total members' equity | 339662 | 336641 | 285579 | 339479 | 210312 | (16120) | 296012 | 321970 | 289911 |
| Total liabilities and members' equity | $351127 | $344425 | $294359 | $348545 | $219076 | $241325 | $305781 | $331498 | $297036 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)**

**AS OF DECEMBER 31, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Roanoke** | **Robinson** | **Ross** | **Sansa** | **Sedgefield** | **Seneca** | **Sheezy** | **Sherwood** | **Spangler** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $22621 | $24787 | $23357 | $13296 | $23488 | $23414 | $14858 | $8977 | $- |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 636 |  | 527 | 277 | 418 |  | 531 | 340 |  |
| &nbsp;&nbsp;&nbsp;Due from related parties |  | 3128 |  |  | 6955 | 2 |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from (to) third party property manager | 1788 | 4012 | 4828 | 2764 | 3123 | 3692 | 3690 | 2742 | - |
| Total current assets | 25046 | 31928 | 28711 | 16337 | 33983 | 27107 | 19079 | 12059 |  |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 323781 | 322775 | 326857 | 175531 | 290451 | 295518 | 222762 | 168270 | 390088 |
| Total assets | $348826 | $354702 | $355568 | $191868 | $324434 | $322626 | $241841 | $180328 | $390088 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 3343 | 4094 | 5694 | 2901 | 3242 | 3770 | 5515 | 3034 | 15631 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 2495 | 2345 | 2545 | 1395 | 3243 | 2695 | 2045 | 1395 |  |
| &nbsp;&nbsp;&nbsp;Bridge financing, related party |  |  |  |  |  |  |  |  | 362000 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 2569 | - | 2230 | 1343 | - | - | 2583 | 1396 | 22769 |
| Total current liabilities | 8407 | 6439 | 10469 | 5639 | 6485 | 6465 | 10143 | 5824 | 400400 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | - | - | - | - | - | - | - | - |
| Total liabilities | 8407 | 6439 | 10469 | 5639 | 6485 | 6465 | 10143 | 5824 | 400400 |
| Members' equity |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 341678 | 356490 | 344040 | 189071 | 332900 | 324515 | 226607 | 186239 |  |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (1259) | (8226) | 1059 | (2842) | (14952) | (8355) | 5091 | (11736) | (10312) |
| Total members' equity | 340419 | 348264 | 345099 | 186229 | 317949 | 316161 | 231698 | 174504 | (10312) |
| Total liabilities and members' equity | $348826 | $354702 | $355568 | $191868 | $324434 | $322626 | $241841 | $180328 | $390088 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)**

**AS OF DECEMBER 31, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Summerglen** | **Tansel** | **Thomas** | **Tomlinson** | **Tytus** | **Vanzant** | **Watson** | **Westhaven** | **Wheeler** |
| **ASSETS** | | | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $6370 | $6633 | $9480 | $- | $19226 | $15649 | $14142 | $6388 | $14689 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 820 | 1080 | 489 |  | 437 | 357 | 385 | 502 | 476 |
| &nbsp;&nbsp;&nbsp;Due from related parties |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due from (to) third party property manager | 3211 | 4676 | 3789 | - | 4281 | 4847 | 2739 | 565 | 3232 |
| Total current assets | 10402 | 12389 | 13757 |  | 23945 | 20853 | 17266 | 7455 | 18397 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 233128 | 314043 | 211043 | 244500 | 251134 | 347252 | 169346 | 245580 | 200499 |
| Total assets | $243529 | $326432 | $224800 | $244500 | $275078 | $368104 | $186612 | $253035 | $218895 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 2837 | 2941 | 2785 | 4523 | 6810 | 5775 | 3083 | 5070 | 2970 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 1795 | 2395 | 1795 |  | 2495 | 2695 | 1395 | 2145 | 1649 |
| &nbsp;&nbsp;&nbsp;Bridge financing, related party |  |  |  | 232000 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 2223 | 4607 | 3000 | 12804 | 2010 | 2349 | 1846 | 2601 | 2047 |
| Total current liabilities | 6855 | 9943 | 7580 | 249328 | 11315 | 10819 | 6324 | 9816 | 6666 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | - | - | - | - | - | - | - | - |
| Total liabilities | 6855 | 9943 | 7580 | 249328 | 11315 | 10819 | 6324 | 9816 | 6666 |
| Members' equity |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 240554 | 339118 | 214538 |  | 264995 | 367071 | 179562 | 257282 | 207393 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | (3880) | (22629) | 2682 | (4828) | (1232) | (9786) | 726 | (14063) | 4837 |
| Total members' equity | 236674 | 316489 | 217221 | (4828) | 263763 | 357285 | 180288 | 243218 | 212230 |
| Total liabilities and members' equity | $243529 | $326432 | $224800 | $244500 | $275078 | $368104 | $186612 | $253035 | $218895 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)**

**AS OF DECEMBER 31, 2024**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Williamson** | **Woodland** | **Woodwind** | **Wynde** | **Wyndhurst** | **Zane** | **Consolidated** |
| **ASSETS** | | | | | | | |
| Current assets: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $20047 | $4751 | $4408 | $4051 | $22986 | $15987 | $1129818 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 542 | 382 | 535 | 570 | 461 | 362 | 55245 |
| &nbsp;&nbsp;&nbsp;Due from related parties |  |  |  |  |  |  | 10085 |
| &nbsp;&nbsp;&nbsp;Due from (to) third party property manager | 5790 | 2163 | 3172 | 4838 | 344 | 2462 | 321782 |
| Total current assets | 26379 | 7296 | 8115 | 9459 | 23792 | 18811 | 1516931 |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 277119 | 159538 | 245293 | 245276 | 303663 | 157597 | 25742294 |
| Total assets | $303498 | $166834 | $253408 | $254735 | $327455 | $176408 | $27259224 |
| **LIABILITIES AND MEMBERS' EQUITY** |  |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 3131 | 2651 | 1518 | 2622 | 1750 | 2742 | $390569 |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 3543 | 1295 | 1695 | 2645 |  | 1275 | 196117 |
| &nbsp;&nbsp;&nbsp;Bridge financing, related party |  |  |  |  |  |  | 2349683 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 2228 | 1751 | 4436 | 8331 | 1868 | 1205 | 371332 |
| Total current liabilities | 8901 | 5696 | 7649 | 13598 | 3618 | 5222 | 3307700 |
| &nbsp;&nbsp;&nbsp;Operational notes, related party | - | - | - | - | - | - | 78300 |
| Total liabilities | 8901 | 5696 | 7649 | 13598 | 3618 | 5222 | 3386000 |
| Members' equity |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Members' capital | 289712 | 169469 | 254853 | 257851 | 328032 | 171337 | 24710152 |
| &nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit) | 4885 | (8331) | (9095) | (16713) | (4194) | (151) | (836928) |
| Total members' equity | 294597 | 161138 | 245758 | 241137 | 323837 | 171186 | 23873224 |
| Total liabilities and members' equity | $303498 | $166834 | $253408 | $254735 | $327455 | $176408 | $27259224 |

---

See the accompanying notes to these consolidated and consolidating financial statements.

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Adams** | **Antares** | **Aramis** | **Arkoma** | **Arya** | **Aspen** | **Athos** | **Barclay** | **Bayne** |
| Rental income | $12820 | $11670 | $12270 | $9022 | $8370 | $13640 | $12570 | $12030 | $12600 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4197 | 4257 | 4123 | 3245 | 2466 | 3679 | 4578 | 4208 | 4807 |
| &nbsp;&nbsp;&nbsp;Insurance | 654 | 593 | 675 | 534 | 669 | 598 | 2283 | 544 | 776 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 1518 | 1444 | 1462 | 1013 | 790 | 1650 | 1456 | 1453 | 1457 |
| &nbsp;&nbsp;&nbsp;Management fees | 489 | 420 | 479 | 451 | 420 | 661 | 466 | 431 | 425 |
| &nbsp;&nbsp;&nbsp;Repairs and maintenance | 695 |  | 670 | 120 |  | 880 | 390 |  | 50 |
| &nbsp;&nbsp;&nbsp;Property taxes | 1662 | 1592 | 1784 | 1199 | 605 | 1311 | 2814 | 1241 | 1912 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 5210 | 1083 | 1202 | 1541 | 1028 | 258 | 1238 | 1565 | 6063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 14425 | 9388 | 10394 | 8103 | 5979 | 9037 | 13225 | 9442 | 15490 |
| Loss from operations | (1605) | 2282 | 1876 | 919 | 2391 | 4603 | (655) | 2588 | (2890) |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | 540 | - | - | - | 164 | - | - | - | 2260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expenses | 540 | - | - | - | 164 | - | - | - | 2260 |
| Net income (loss) | $(2145) | $2282 | $1876 | $919 | $2228 | $4603 | $(655) | $2588 | $(5150) |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Bean** | **Bennett** | **Benny** | **Bluebell** | **Bowling** | **Boxwood** | **Bradford** | **Brookwood** | **Bryant** |
| Rental income | $12870 | $10170 | $10770 | $12720 | $9360 | $9278 | $11520 | $11220 | $12570 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4029 | 2910 | 3503 | 4108 | 2862 | 4420 | 4180 | 3854 | 4392 |
| &nbsp;&nbsp;&nbsp;Insurance | 674 | 466 | 1410 | 661 | 520 | 630 | 534 | 501 | 1879 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 1488 | 872 | 1207 | 1498 | 849 | 1230 | 1417 | 1103 | 1425 |
| &nbsp;&nbsp;&nbsp;Management fees | 420 | 610 | 491 | 420 | 555 | 452 | 420 | 673 | 447 |
| &nbsp;&nbsp;&nbsp;Repairs and maintenance |  |  | 710 |  | 427 | 672 |  | 297 | 200 |
| &nbsp;&nbsp;&nbsp;Property taxes | 1488 | 737 | 1834 | 2363 | 814 | 1783 | 1253 | 1829 | 2744 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 2240 | 1181 | 1137 | 840 | 1251 | 6919 | 1462 | 1106 | 1573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 10338 | 6776 | 10291 | 9889 | 7279 | 16106 | 9267 | 9363 | 12660 |
| Loss from operations | 2532 | 3394 | 479 | 2831 | 2081 | (6828) | 2253 | 1857 | (90) |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | - | - | - | - | - | 3080 | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expenses | - | - | - | - | - | 3080 | - | - | - |
| Net income (loss) | $2532 | $3394 | $479 | $2831 | $2081 | $(9908) | $2253 | $1857 | $(90) |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Caden** | **Camellia** | **Caterpillar** | **Chilhowee** | **Claremore** | **Collinison** | **Cordero** | **Cristalino** | **Ellie** |
| Rental income | $9570 | $11034 | $8975 | $14370 | $9120 | $12570 | $12270 | $15270 | $7758 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 3437 | 4811 | 4124 | 4471 | 3232 | 4666 | 3860 | 4225 | 3948 |
| &nbsp;&nbsp;&nbsp;Insurance | 609 | 613 | 2854 | 767 | 1066 | 867 | 510 | 840 | 723 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 1166 | 1031 | 1115 | 1701 | 1013 | 1489 | 1327 | 1732 | 1201 |
| &nbsp;&nbsp;&nbsp;Management fees | 585 | 658 | 646 | 424 | 420 | 980 | 472 | 439 | 866 |
| &nbsp;&nbsp;&nbsp;Repairs and maintenance | 1732 |  | 3175 |  |  | 457 | 515 | 190 | 6006 |
| &nbsp;&nbsp;&nbsp;Property taxes | 674 | 1677 | 2292 | 536 | 1263 | 947 | 1624 | 2407 | 1577 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 1333 | 1717 | 1874 | 2871 | 1184 | 3067 | 1094 | 1044 | 5102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 9536 | 10507 | 16080 | 10770 | 8178 | 12472 | 9402 | 10877 | 19423 |
| Loss from operations | 34 | 527 | (7105) | 3600 | 942 | 98 | 2868 | 4393 | (11666) |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | 206 | - | - | - | - | - | - | 630 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expenses | 206 | - | - | - | - | - | - | 630 | - |
| Net income (loss) | $(172) | $527 | $(7105) | $3600 | $942 | $98 | $2868 | $3763 | $(11666) |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Emelina** | **Ethan** | **Frances** | **Glenncrest** | **Gordon** | **Haikey** | **Hamblen** | **Hancock** | **Hardman** |
| Rental income | $8227 | $8850 | $12180 | $9975 | $11370 | $10710 | $9381 | $12940 | $14970 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4121 | 4147 | 3837 | 3991 | 3512 | 3368 | 3527 | 4227 | 5326 |
| &nbsp;&nbsp;&nbsp;Insurance | 639 | 517 | 564 | 892 | 564 | 1107 | 604 | 716 | 784 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 1052 | 867 | 1388 | 1318 | 1255 | 1171 | 1169 | 1425 | 1940 |
| &nbsp;&nbsp;&nbsp;Management fees | 662 | 555 | 451 | 433 | 457 | 465 | 656 | 498 | 433 |
| &nbsp;&nbsp;&nbsp;Repairs and maintenance | 1027 | 1197 |  | 553 | 370 | 449 | 1356 | 780 | 125 |
| &nbsp;&nbsp;&nbsp;Property taxes | 1347 | 1026 | 299 | 913 | 1565 | 1754 | 1038 | 1645 | 1814 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 1504 | 1026 | 1539 | 762 | 2075 | 1452 | 3204 | 1559 | 2294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 10352 | 9334 | 8079 | 8861 | 9798 | 9765 | 11553 | 10849 | 12715 |
| Loss from operations | (2125) | (484) | 4101 | 1114 | 1572 | 945 | (2172) | 2091 | 2255 |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | - | 488 | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expenses | - | 488 | - | - | - | - | - | - | - |
| Net income (loss) | $(2125) | $(972) | $4101 | $1114 | $1572 | $945 | $(2172) | $2091 | $2255 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Haven** | **Haverhill** | **Haybridge** | **Hedgecrest** | **Helmerich** | **Hermanos** | **Holmes** | **Johnson** | **Keystone** |
| Rental income | $8970 | $10081 | $6532 | $11449 | $10052 | $13170 | $6405 | $14520 | $15253 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 2549 | 3225 | 4931 | 5336 | 3462 | 5914 | 2419 | 4510 | 4784 |
| &nbsp;&nbsp;&nbsp;Insurance | 473 | 578 | 829 | 829 | 1061 | 695 | 411 | 647 | 808 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 853 | 879 | 1349 | 1576 | 1147 | 1553 | 765 | 1720 | 1841 |
| &nbsp;&nbsp;&nbsp;Management fees | 470 | 735 | 380 | 497 | 420 | 472 | 914 | 463 | 420 |
| &nbsp;&nbsp;&nbsp;Repairs and maintenance | 500 |  | 1005 | (5304) |  | 409 | 6154 | 425 |  |
| &nbsp;&nbsp;&nbsp;Property taxes | 429 | 1787 | 1345 | 1335 | 1367 | 2340 | 593 | 1062 | 1139 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 986 | 1648 | 2529 | 1818 | 1084 | 945 | 2726 | 1975 | 2382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 6260 | 8853 | 12369 | 6086 | 8541 | 12327 | 13985 | 10801 | 11375 |
| Loss from operations | 2710 | 1227 | (5837) | 5363 | 1511 | 843 | (7580) | 3719 | 3878 |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | 182 | - | - | - | - | 245 | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expenses | 182 | - | - | - | - | 245 | - | - | - |
| Net income (loss) | $2529 | $1227 | $(5837) | $5363 | $1511 | $597 | $(7580) | $3719 | $3878 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Langley** | **Laurel** | **Layla** | **Liberty** | **Lithonia** | **Lola** | **Lucas** | **Macomber** | **Mallard** |
| Rental income | $15270 | $13770 | $13370 | $11670 | $11970 | $12720 | $6354 | $13320 | $8725 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4559 | 4631 | 4453 | 5545 | 4963 | 4144 | 4070 | 4286 | 2862 |
| &nbsp;&nbsp;&nbsp;Insurance | 923 | 723 | 1114 | 1650 | 621 | 870 | 1938 | 2055 | 532 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 1797 | 1687 | 1621 | 1264 | 1128 | 1501 | 1022 | 1471 | 972 |
| &nbsp;&nbsp;&nbsp;Management fees | 784 | 420 | 430 | 433 | 718 | 474 | 603 | 448 | 444 |
| &nbsp;&nbsp;&nbsp;Repairs and maintenance | 3639 |  | 100 | 125 | 144 | 542 | 2342 | 284 | (28) |
| &nbsp;&nbsp;&nbsp;Property taxes | 1982 | 1496 | 1064 | 2272 | 2779 | 930 | 2532 | 2696 | 827 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 4032 | 1491 | 2596 | 1227 | 1866 | 2526 | 3230 | 1034 | 390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 17715 | 10448 | 11377 | 12515 | 12221 | 10987 | 15737 | 12274 | 6000 |
| Loss from operations | (2445) | 3322 | 1993 | (845) | (251) | 1734 | (9383) | 1046 | 2725 |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | 663 | - | - | 300 | 911 | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expenses | 663 | - | - | 300 | 911 | - | - | - | - |
| Net income (loss) | $(3108) | $3322 | $1993 | $(1145) | $(1162) | $1734 | $(9383) | $1046 | $2725 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Marcy** | **Meridian** | **Metallo** | **Misty** | **Montgomery** | **Northbrook** | **Northridge** | **Oakland** | **Palmore** |
| Rental income | $8155 | $11055 | $1888 | $15570 | $9870 | $11370 | $6780 | $13320 | $8022 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 2466 | 4492 | 3340 | 4723 | 4173 | 3872 | 3535 | 4222 | 3455 |
| &nbsp;&nbsp;&nbsp;Insurance | 669 | 739 | 538 | 978 | 540 | 564 | 585 | 1009 | 594 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 772 | 1259 | 959 | 1850 | 985 | 1336 | 1212 | 1567 | 824 |
| &nbsp;&nbsp;&nbsp;Management fees | 470 | 519 | 494 | 486 | 480 | 420 | 420 | 420 | 835 |
| &nbsp;&nbsp;&nbsp;Repairs and maintenance | 505 | 991 | 3493 | 120 | 425 |  |  |  | 3318 |
| &nbsp;&nbsp;&nbsp;Property taxes | 858 | 1010 | 1635 | 1898 | 1089 | 1810 | 1205 | 815 | 497 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 1226 | 1056 | 6049 | 2156 | 813 | 1584 | 1726 | 1510 | 1256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 6968 | 10065 | 16508 | 12210 | 8504 | 9586 | 8684 | 9543 | 10779 |
| Loss from operations | 1187 | 990 | (14620) | 3360 | 1366 | 1784 | (1904) | 3777 | (2757) |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | - | - | 1657 | - | 401 | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expenses | - | - | 1657 | - | 401 | - | - | - | - |
| Net income (loss) | $1187 | $990 | $(16277) | $3360 | $965 | $1784 | $(1904) | $3777 | $(2757) |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Pebblestone** | **Perdita** | **Phoebe** | **Pongo** | **Portsmouth** | **Presidio** | **Rachel** | **Ratliff** | **Riverwood** |
| Rental income | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13770 | $11970 | $11790 | $12570 | $12978 | $7352 | $9985 | $12720 | $10573 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4642 | 4560 | 3818 | 4560 | 3331 | 3288 | 3972 | 4394 | 5020 |
| &nbsp;&nbsp;&nbsp;Insurance | 808 | 610 | 621 | 610 | 479 | 582 | 835 | 920 | 682 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 1691 | 1535 | 1352 | 1583 | 1257 | 883 | 1253 | 1555 | 1450 |
| &nbsp;&nbsp;&nbsp;Management fees | 565 | 420 | 454 | 420 | 1126 | 382 | 425 | 477 | 651 |
| &nbsp;&nbsp;&nbsp;Repairs and maintenance | 1145 |  | 335 |  | 610 | 370 | 50 |  |  |
| &nbsp;&nbsp;&nbsp;Property taxes | 1174 | 1336 | 932 | 1336 | 1157 | 1273 | 968 | 447 | 2201 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 2318 | 1502 | 2745 | 1502 | 1208 | 6261 | 3273 | 2269 | 1737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 12342 | 9963 | 10255 | 10011 | 9169 | 13039 | 10775 | 10062 | 11741 |
| Loss from operations | 1428 | 2007 | 1535 | 2559 | 3809 | (5687) | (790) | 2658 | (1168) |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | - | - | - | - | - | 2576 | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expenses | - | - | - | - | - | 2576 | - | - | - |
| Net income (loss) | $1428 | $2007 | $1535 | $2559 | $3809 | $(8263) | $(790) | $2658 | $(1168) |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Roanoke** | **Robinson** | **Ross** | **Sansa** | **Sedgefield** | **Seneca** | **Sheezy** | **Sherwood** | **Spangler** |
| Rental income | $14970 | $14170 | $14000 | $8370 | $14140 | $13470 | $11200 | $8370 | $7041 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4604 | 4409 | 4582 | 2466 | 4014 | 4057 | 3215 | 2398 | 5872 |
| &nbsp;&nbsp;&nbsp;Insurance | 788 | 669 | 1103 | 669 | 788 | 802 | 526 | 414 | 951 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 1783 | 1680 | 1699 | 779 | 1609 | 1542 | 1175 | 775 | 1308 |
| &nbsp;&nbsp;&nbsp;Management fees | 429 | 420 | 428 | 431 | 515 | 420 | 477 | 516 | 467 |
| &nbsp;&nbsp;&nbsp;Repairs and maintenance | 90 |  | 75 |  | 150 |  | 658 | 963 | 1770 |
| &nbsp;&nbsp;&nbsp;Property taxes | 2199 | 1777 | 1249 | 990 | 1407 | 1622 | 1238 | 576 | 2101 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 840 | 1986 | 2137 | 1066 | 1920 | 2569 | 1742 | 971 | 6755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 10732 | 10942 | 11273 | 6401 | 10403 | 11012 | 9031 | 6613 | 19224 |
| Loss from operations | 4238 | 3228 | 2727 | 1969 | 3737 | 2458 | 2169 | 1757 | (12183) |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | - | - | - | - | - | - | - | - | 2489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expenses | - | - | - | - | - | - | - | - | 2489 |
| Net income (loss) | $4238 | $3228 | $2727 | $1969 | $3737 | $2458 | $2169 | $1757 | $(14672) |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Summerglen** | **Tansel** | **Thomas** | **Tomlinson** | **Tytus** | **Vanzant** | **Watson** | **Westhaven** | **Wheeler** |
| Rental income | $10770 | $10927 | $7180 | $5880 | $12270 | $13470 | $8370 | $11520 | $10291 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 3330 | 4476 | 3015 | 3332 | 3579 | 4862 | 2419 | 3508 | 2864 |
| &nbsp;&nbsp;&nbsp;Insurance | 1007 | 1454 | 428 | 610 | 523 | 535 | 411 | 517 | 520 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 1237 | 1574 | 802 | 712 | 1342 | 1723 | 779 | 1267 | 1027 |
| &nbsp;&nbsp;&nbsp;Management fees | 503 | 442 | 431 | 1790 | 420 | 570 | 420 | 450 | 420 |
| &nbsp;&nbsp;&nbsp;Repairs and maintenance | 550 | 1615 | 4985 | 15096 |  | 1503 |  | 300 |  |
| &nbsp;&nbsp;&nbsp;Property taxes | 1377 | 1670 | 1051 | 1347 | 1839 | 2546 | 593 | 1745 | 814 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 903 | 3130 | 1994 | 5424 | 770 | 984 | 1068 | 1340 | 1096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 8908 | 14361 | 12705 | 28312 | 8472 | 12723 | 5691 | 9127 | 6742 |
| Loss from operations | 1862 | (3434) | (5525) | (22432) | 3798 | 747 | 2679 | 2393 | 3550 |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | - | - | - | 4156 | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expenses | - | - | - | 4156 | - | - | - | - | - |
| Net income (loss) | $1862 | $(3434) | $(5525) | $(26588) | $3798 | $747 | $2679 | $2393 | $3550 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Williamson** | **Woodland** | **Woodwind** | **Wynde** | **Wyndhurst** | **Zane** | **Consolidated** |
| Rental income | $11135 | $7770 | $4466 | $11820 | $5798 | $7650 | $1043396 |
| Operating expenses: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 3940 | 2927 | 3504 | 4024 | 4257 | 2241 | 379050 |
| &nbsp;&nbsp;&nbsp;Insurance | 552 | 447 | 451 | 725 | 692 | 453 | 74992 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 1382 | 682 | 1122 | 1276 | 1143 | 681 | 123252 |
| &nbsp;&nbsp;&nbsp;Management fees | 2530 | 455 | 180 | 420 | 370 | 467 | 51784 |
| &nbsp;&nbsp;&nbsp;Repairs and maintenance | 20996 | 347 | 5222 |  | 1031 | 469 | 100560 |
| &nbsp;&nbsp;&nbsp;Property taxes | 2509 | 708 | 1180 | 1623 | 463 | 766 | 136369 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 1129 | 499 | 1403 | 640 | 3182 | 898 | 190726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 33039 | 6065 | 13062 | 8708 | 11138 | 5974 | 1056734 |
| Loss from operations | (21904) | 1705 | (8596) | 3112 | (5339) | 1676 | (13338) |
| Other expenses (income): |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income | (15391) |  |  |  |  |  | (15391) |
| &nbsp;&nbsp;&nbsp;Interest expense | - | - | - | 185 | - | - | 21133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expenses | (15391) | - | - | 185 | - | - | 5742 |
| Net income (loss) | $(6512) | $1705 | $(8596) | $2927 | $(5339) | $1676 | $(19080) |

---

See the accompanying notes to these consolidated and consolidating financial statements.

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Antares** | **Aramis** | **Arkoma** | **Arya** | **Aspen** | **Athos** | **Barclay** | **Bean** | **Bennett** |
| Rental income | $11670 | $12270 | $9570 | $8370 | $7006 | $12570 | $11970 | $12870 | $10170 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4257 | 4123 | 3245 | 2466 | 3679 | 4578 | 4208 | 4029 | 2910 |
| &nbsp;&nbsp;&nbsp;Insurance | 739 | 947 | 685 | 446 | 820 | 3503 | 634 | 1204 | 617 |
| &nbsp;&nbsp;&nbsp;Management fees | 420 | 469 | 494 | 442 | 420 | 427 | 482 | 482 | 712 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 1599 | 1563 | 1118 | 858 | 943 | 1594 | 1550 | 1572 | 804 |
| &nbsp;&nbsp;&nbsp;Repairs & maintenance | 165 | 150 | 556 | 1376 | 3327 | 75 | 621 | 2452 | 943 |
| &nbsp;&nbsp;&nbsp;Property taxes | 1704 | 1650 | (276) | 670 | 1470 | 1596 | 1686 | 6 | 1164 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 897 | 2372 | 1358 | 1282 | 4047 | 1210 | 1822 | 2337 | 1056 |
| Total operating expenses | 9781 | 11273 | 7179 | 7539 | 14707 | 12983 | 11003 | 12082 | 8207 |
| Income (loss) from operations | 1889 | 997 | 2391 | 831 | (7701) | (413) | 967 | 788 | 1963 |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense |  |  |  |  |  |  |  |  |  |
| Total other expenses | - | - | - | - | - | - | - | - | - |
| Net income (loss) | $1889 | $997 | $2391 | $831 | $(7701) | $(413) | $967 | $788 | $1963 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Benny** | **Bluebell** | **Bowling** | **Bradford** | **Brookwood** | **Bryant** | **Caden** | **Camellia** | **Caterpillar** |
| Rental income | $10770 | $12720 | $9175 | $11520 | $11220 | $12570 | $10170 | $10770 | $10770 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 3503 | 4108 | 2862 | 4180 | 3854 | 4392 | 3437 | 4811 | 4124 |
| &nbsp;&nbsp;&nbsp;Insurance | 2187 | 852 | 652 | 615 | 576 | 2605 | 778 | 775 | 1669 |
| &nbsp;&nbsp;&nbsp;Management fees | 439 | 420 | 628 | 420 | 785 | 440 | 995 | 862 | 754 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 1188 | 1648 | 624 | 1569 | 1029 | 1404 | 957 | 765 | 1230 |
| &nbsp;&nbsp;&nbsp;Repairs & maintenance |  |  |  |  | 505 |  | 5320 | 1833 |  |
| &nbsp;&nbsp;&nbsp;Property taxes | 1404 | 1650 | 1146 | 1680 | 1542 | 1542 | 1374 | 1404 | 1650 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 1503 | 951 | 958 | 1002 | 981 | 1180 | 920 | 806 | 1522 |
| Total operating expenses | 10224 | 9628 | 6871 | 9467 | 9271 | 11562 | 13782 | 11255 | 10949 |
| Income (loss) from operations | 546 | 3092 | 2304 | 2053 | 1949 | 1008 | (3612) | (485) | (179) |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense |  |  |  |  |  |  |  |  |  |
| Total other expenses | - | - | - | - | - | - | - | - | - |
| Net income (loss) | $546 | $3092 | $2304 | $2053 | $1949 | $1008 | $(3612) | $(485) | $(179) |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Chilhowee** | **Claremore** | **Collinison** | **Cordero** | **Cristalino** | **Ellie** | **Emelina** | **Ethan** | **Frances** |
| Rental income | $15517 | $8628 | $12720 | $12439 | $10944 | $8362 | $10470 | $8850 | $11043 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4471 | 3232 | 4152 | 3860 | 4225 | 3948 | 4121 | 3277 | 3198 |
| &nbsp;&nbsp;&nbsp;Insurance | 1113 | 1471 | 634 | 641 | 1310 | 1283 | 847 | 675 | 522 |
| &nbsp;&nbsp;&nbsp;Management fees | 440 | 443 | 453 | 459 | 371 | 380 | 485 | 463 | 453 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 1765 | 1060 | 1455 | 1362 | 1460 | 1602 | 1138 | 830 | 838 |
| &nbsp;&nbsp;&nbsp;Repairs & maintenance |  |  | 412 | 150 | 7492 | 99 | 425 | 3819 |  |
| &nbsp;&nbsp;&nbsp;Property taxes | (532) | (436) | 1357 | 1404 | 1704 | 740 | 1374 | 1062 | 1530 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 2248 | 4667 | 2089 | 1152 | 3568 | 4212 | 1022 | 871 | 5054 |
| Total operating expenses | 9505 | 10437 | 10551 | 9028 | 20130 | 12264 | 9412 | 10998 | 11594 |
| Income (loss) from operations | 6012 | (1808) | 2169 | 3411 | (9187) | (3902) | 1058 | (2148) | (551) |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense |  |  |  |  |  |  |  |  |  |
| Total other expenses | - | - | - | - | - | - | - | - | - |
| Net income (loss) | $6012 | $(1808) | $2169 | $3411 | $(9187) | $(3902) | $1058 | $(2148) | $(551) |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Glenncrest** | **Gordon** | **Haikey** | **Hamblen** | **Hancock** | **Hardman** | **Haven** | **Haverhill** | **Haybridge** |
| Rental income | $11771 | $11370 | $10770 | $12570 | $12270 | $15163 | $6696 | $17845 | $8380 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 3991 | 3512 | 3368 | 3527 | 4227 | 5326 | 2549 | 3225 | 4931 |
| &nbsp;&nbsp;&nbsp;Insurance | 648 | 766 | 1887 | 383 | 1093 | 610 | 143 | 838 | 543 |
| &nbsp;&nbsp;&nbsp;Management fees | 427 | 505 | 452 | 450 | 474 | 458 | 280 | 1112 | 350 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 218 | 1297 | 1132 | 1313 | 1318 | 1937 | 811 | 1019 | 1470 |
| &nbsp;&nbsp;&nbsp;Repairs & maintenance |  | 252 |  |  | 540 | 573 | 776 | 605 |  |
| &nbsp;&nbsp;&nbsp;Property taxes | 1317 | 1404 | (219) | 526 | 1488 | 2054 | 1020 | 1290 | 1378 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 5004 | 1548 | 1788 | 1389 | 737 | 1770 | 516 | 629 | 2486 |
| Total operating expenses | 11606 | 9284 | 8408 | 7588 | 9876 | 12727 | 6094 | 8718 | 11158 |
| Income (loss) from operations | 164 | 2086 | 2362 | 4982 | 2394 | 2436 | 602 | 9128 | (2778) |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | 6314 |  |  |  |  |  |  |  |  |
| Total other expenses | 6314 | - | - | - | - | - | - | - | - |
| Net income (loss) | $(6149) | $2086 | $2362 | $4982 | $2394 | $2436 | $602 | $9128 | $(2778) |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Hedgecrest** | **Helmerich** | **Hermanos** | **Holmes** | **Johnson** | **Keystone** | **Laurel** | **Layla** | **Liberty** |
| Rental income | $6584 | $10770 | $9283 | $8370 | $- | $11552 | $10940 | $11375 | $11782 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4931 | 3462 | 5914 | 2419 |  | 3987 | 3087 | 4453 | 4170 |
| &nbsp;&nbsp;&nbsp;Insurance | 543 | 1382 | 972 | 520 |  | 685 | 973 | 802 | 2265 |
| &nbsp;&nbsp;&nbsp;Management fees | 318 | 445 | 265 | 461 |  | 450 | 350 | 779 | 444 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 1349 | 1171 | 1401 | 738 |  | 1566 | 693 | 1529 | 1374 |
| &nbsp;&nbsp;&nbsp;Repairs & maintenance | 1079 |  | 2498 | 626 | 2723 |  | 2448 | 3293 | 3768 |
| &nbsp;&nbsp;&nbsp;Property taxes | 1378 | (451) | 1704 | (472) |  | 1900 | 1522 | 1485 | 1374 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 2457 | 1779 | 1253 | 801 | 708 | 3308 | 6198 | 3325 | 1816 |
| Total operating expenses | 12054 | 7789 | 14006 | 5093 | 3430 | 11897 | 15270 | 15666 | 15211 |
| Income (loss) from operations | (5470) | 2981 | (4723) | 3277 | (3430) | (346) | (4331) | (4291) | (3429) |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense |  |  |  |  | 191 |  | 7746 |  |  |
| Total other expenses | - | - | - | - | 191 | - | 7746 | - | - |
| Net income (loss) | $(5470) | $2981 | $(4723) | $3277 | $(3621) | $(346) | $(12076) | $(4291) | $(3429) |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Lithonia** | **Lola** | **Lucas** | **Macomber** | **Mallard** | **Marcy** | **Meridian** | **Montgomery** | **Northbrook** |
| Rental income | $5719 | $12720 | $12270 | $12685 | $10470 | $7622 | $11100 | $6754 | $5685 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4426 | 4144 | 3503 | 4286 | 2862 | 2466 | 4206 | 3267 | 3872 |
| &nbsp;&nbsp;&nbsp;Insurance | 850 | 636 | 2702 | 3060 | 680 | 446 | 1047 | 702 | 442 |
| &nbsp;&nbsp;&nbsp;Management fees | 728 | 472 | 435 | 425 | 420 | 550 | 564 | 408 | 210 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 924 | 1588 | 1434 | 1557 | 1146 | 764 | 1240 | 503 | 1091 |
| &nbsp;&nbsp;&nbsp;Repairs & maintenance | 10722 | 220 |  | 286 | 2634 | 1298 | 1814 | 5987 |  |
| &nbsp;&nbsp;&nbsp;Property taxes | 1554 | 1379 | 1404 | 1512 | 1146 | 675 | 1458 | 1128 | 1290 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 5781 | 2006 | 994 | 1714 | 1485 | 2219 | 1281 | 2961 | 3944 |
| Total operating expenses | 24984 | 10445 | 10473 | 12840 | 10373 | 8418 | 11609 | 14956 | 10848 |
| Income (loss) from operations | (19265) | 2275 | 1797 | (155) | 97 | (797) | (509) | (8202) | (5163) |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  | (6998) |  |
| &nbsp;&nbsp;&nbsp;Interest expense |  |  |  |  |  |  |  |  |  |
| Total other expenses | - | - | - | - | - | - | - | (6998) | - |
| Net income (loss) | $(19265) | $2275 | $1797 | $(155) | $97 | $(797) | $(509) | $(1204) | $(5163) |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Northridge** | **Oakland** | **Palmore** | **Pebblestone** | **Perdita** | **Phoebe** | **Pongo** | **Portsmouth** | **Rachel** |
| Rental income | $3899 | $6809 | $8520 | $10474 | $11970 | $6720 | $12570 | $10770 | $6795 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 2946 | 4222 | 3455 | 3868 | 4560 | 3182 | 4560 | 2932 | 3972 |
| &nbsp;&nbsp;&nbsp;Insurance | 1002 | 662 | 1745 | 673 | 740 | 1004 | 740 | 644 | 594 |
| &nbsp;&nbsp;&nbsp;Management fees | 210 | 276 | 515 | 380 | 420 | 445 | 420 | 475 | 320 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 941 | (121) | 791 | 1480 | 1701 | (25) | 1749 | 1025 | 697 |
| &nbsp;&nbsp;&nbsp;Repairs & maintenance |  | 1019 | 2386 |  |  | 1650 | 1001 | 1490 | 574 |
| &nbsp;&nbsp;&nbsp;Property taxes | 1482 | 1426 | 1098 | 1845 | 1830 | 1510 | 1830 | 834 | 1327 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 5439 | 3296 | 1023 | 3412 | 1002 | 6047 | 1002 | 790 | 6603 |
| Total operating expenses | 12019 | 10780 | 11013 | 11657 | 10254 | 13813 | 11303 | 8189 | 14087 |
| Income (loss) from operations | (8121) | (3971) | (2493) | (1183) | 1716 | (7093) | 1267 | 2581 | (7292) |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense |  | 7656 |  |  |  | 6011 |  |  |  |
| Total other expenses | - | 7656 | - | - | - | 6011 | - | - | - |
| Net income (loss) | $(8121) | $(11627) | $(2493) | $(1183) | $1716 | $(13104) | $1267 | $2581 | $(7292) |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Ratliff** | **Riverwood** | **Roanoke** | **Ross** | **Sansa** | **Sedgefield** | **Sheezy** | **Sherwood** | **Summerglen** |
| Rental income | $8480 | $12240 | $17269 | $13611 | $8370 | $6666 | $10920 | $8370 | $10770 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4394 | 5020 | 4604 | 4582 | 2466 | 2007 | 3215 | 2398 | 3330 |
| &nbsp;&nbsp;&nbsp;Insurance | 601 | 982 | 1146 | 776 | 446 | 461 | 720 | 525 | 1300 |
| &nbsp;&nbsp;&nbsp;Management fees | 396 | 979 | 485 | 460 | 426 | 280 | 453 | 447 | 445 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 1460 | 1171 | 2069 | 1113 | 874 | 275 | 1145 | 836 | 1165 |
| &nbsp;&nbsp;&nbsp;Repairs & maintenance | 1083 |  | 653 |  | 60 | 4655 | 1242 | 265 |  |
| &nbsp;&nbsp;&nbsp;Property taxes | 1286 | 1584 | (308) | 1657 | 670 | 1066 | 1194 | (314) | (776) |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 5585 | 687 | 261 | 5396 | 1075 | 1991 | 1803 | 1021 | 2249 |
| Total operating expenses | 14805 | 10424 | 8911 | 13984 | 6016 | 10734 | 9772 | 5178 | 7713 |
| Income (loss) from operations | (6325) | 1816 | 8358 | (373) | 2354 | (4068) | 1148 | 3192 | 3057 |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense |  |  |  |  |  | 7917 |  |  |  |
| Total other expenses | - | - | - | - | - | 7917 | - | - | - |
| Net income (loss) | $(6325) | $1816 | $8358 | $(373) | $2354 | $(11985) | $1148 | $3192 | $3057 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Tansel** | **Thomas** | **Tytus** | **Vanzant** | **Watson** | **Westhaven** | **Wheeler** | **Williamson** | **Woodland** |
| Rental income | $14370 | $10968 | $12270 | $10552 | $8370 | $14140 | $9894 | $11100 | $7770 |
| Operating expenses: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4476 | 3015 | 3579 | 4052 | 2419 | 3508 | 2864 | 3940 | 2927 |
| &nbsp;&nbsp;&nbsp;Insurance | 2002 | 514 | 661 | 604 | 520 | 658 | 652 | 689 | 580 |
| &nbsp;&nbsp;&nbsp;Management fees | 572 | 766 | 459 | 355 | 420 | 630 | 420 | 420 | 420 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 1712 | 847 | 1433 | 1022 | 779 | 1385 | 996 | 1536 | 762 |
| &nbsp;&nbsp;&nbsp;Repairs & maintenance | 1271 | 340 | 386 | 5782 |  | 5089 |  |  |  |
| &nbsp;&nbsp;&nbsp;Property taxes | 1794 | 1206 | 1428 | 1950 | (472) | 1108 | 1146 | (41) | 882 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 1290 | 1358 | 704 | 5202 | 1189 | 575 | 569 | 1435 | 714 |
| Total operating expenses | 13116 | 8046 | 8650 | 18967 | 4855 | 12952 | 6648 | 7979 | 6284 |
| Income (loss) from operations | 1254 | 2922 | 3620 | (8415) | 3515 | 1188 | 3246 | 3121 | 1486 |
| Other expenses (income): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense |  |  |  |  |  |  |  |  |  |
| Total other expenses | - | - | - | - | - | - | - | - | - |
| Net income (loss) | $1254 | $2922 | $3620 | $(8415) | $3515 | $1188 | $3246 | $3121 | $1486 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Woodwind** | **Wynde** | **Wyndhurst** | **Zane** | **Consolidated** |
| Rental income | $10157 | $11745 | $11970 | $7650 | $883815 |
| Operating expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 3504 | 4024 | 4257 | 2241 | 313879 |
| &nbsp;&nbsp;&nbsp;Insurance | 508 | 1043 | 1152 | 588 | 79354 |
| &nbsp;&nbsp;&nbsp;Management fees | 711 | 437 | 430 | 420 | 40558 |
| &nbsp;&nbsp;&nbsp;Management fees, related party | 934 | 1244 | 995 | 763 | 96853 |
| &nbsp;&nbsp;&nbsp;Repairs & maintenance | 4658 | 787 | 1915 |  | 108167 |
| &nbsp;&nbsp;&nbsp;Property taxes | 1404 | 1374 | 1281 | 894 | 94699 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 1056 | 1262 | 5267 | 673 | 180963 |
| Total operating expenses | 12775 | 10170 | 15296 | 5578 | 914471 |
| Income (loss) from operations | (2618) | 1575 | (3326) | 2072 | (30656) |
| Other expenses (income): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other income |  |  |  |  | (6998) |
| &nbsp;&nbsp;&nbsp;Interest expense |  |  |  |  | 35834 |
| Total other expenses | - | - | - | - | 28836 |
| Net income (loss) | $(2618) | $1575 | $(3326) | $2072 | $(59492) |

---

See the accompanying notes to these consolidated and consolidating financial statements.

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Adams** | **Antares** | **Aramis** | **Arkoma** | **Arya** | **Aspen** | **Athos** | **Barclay** | **Bayne** |
| **Balance at January 1, 2025** | $(8102) | $308648 | $294006 | $246908 | $170803 | $256383 | $285701 | $315703 | $(8122) |
| Issuance of membership units, net of offering costs | $334077 | $- | $- | $- | $- | $- | $- | $- | $380478 |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $5136 |
| Distributions | $(6568) | $(7064) | $(5924) | $(5839) | $(4091) | $(4500) | $(5050) | $(7708) | $(5878) |
| Net income (loss) | $(2145) | $2282 | $1876 | $919 | $2228 | $4603 | $(655) | $2588 | $(5150) |
| **Balance at June 30, 2025** | $317263 | $303866 | $289958 | $241988 | $168940 | $256486 | $279997 | $310583 | $366464 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Bean** | **Bennett** | **Benny** | **Bluebell** | **Bowling** | **Boxwood** | **Bradford** | **Brookwood** | **Bryant** |
| **Balance at January 1, 2025** | $292453 | $208445 | $246690 | $304999 | $203742 | $(5457) | $312677 | $272083 | $275037 |
| Issuance of membership units, net of offering costs | $- | $- | $- | $- | $- | $353436 | $- | $- | $- |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $5775 | $- | $- | $- |
| Distributions | $(7230) | $(6076) | $(4265) | $(7811) | $(5454) | $(5191) | $(7263) | $(6210) | $(5728) |
| Net income (loss) | $2532 | $3394 | $479 | $2831 | $2081 | $(9908) | $2253 | $1857 | $(90) |
| **Balance at June 30, 2025** | $287754 | $205763 | $242903 | $300018 | $200369 | $338655 | $307667 | $267730 | $269218 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Caden** | **Camellia** | **Caterpillar** | **Chilhowee** | **Claremore** | **Collinison** | **Cordero** | **Cristalino** | **Ellie** |
| **Balance at January 1, 2025** | $232185 | $257434 | $300848 | $316094 | $223019 | $312615 | $273626 | $280188 | $280678 |
| Issuance of membership units, net of offering costs | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Distributions | $(2261) | $(6562) | $(3467) | $(7079) | $(2947) | $(4948) | $(7394) | $(5756) | $(971) |
| Net income (loss) | $(172) | $527 | $(7105) | $3600 | $942 | $98 | $2868 | $3763 | $(11666) |
| **Balance at June 30, 2025** | $229751 | $251399 | $290276 | $312616 | $221014 | $307764 | $269100 | $278194 | $268041 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Emelina** | **Ethan** | **Frances** | **Glenncrest** | **Gordon** | **Haikey** | **Hamblen** | **Hancock** | **Hardman** |
| **Balance at January 1, 2025** | $242043 | $185812 | $288348 | $300751 | $258217 | $245282 | $255655 | $264985 | $392257 |
| Issuance of membership units, net of offering costs | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Distributions | $(3021) | $(2686) | $(9895) | $(7293) | $(6819) | $(6311) | $(6094) | $(7418) | $(9433) |
| Net income (loss) | $(2125) | $(972) | $4101 | $1114 | $1572 | $945 | $(2172) | $2091 | $2255 |
| **Balance at June 30, 2025** | $236897 | $182155 | $282554 | $294572 | $252970 | $239916 | $247388 | $259658 | $385080 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Haven** | **Haverhill** | **Haybridge** | **Hedgecrest** | **Helmerich** | **Hermanos** | **Holmes** | **Johnson** | **Keystone** |
| **Balance at January 1, 2025** | $172663 | $229141 | $369541 | $364523 | $255784 | $299907 | $178968 | $344701 | $349812 |
| Issuance of membership units, net of offering costs | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Distributions | $(4242) | $(6402) | $(4984) | $(7097) | $(6510) | $(5408) | $(3076) | $(8429) | $(8621) |
| Net income (loss) | $2529 | $1227 | $(5837) | $5363 | $1511 | $597 | $(7580) | $3719 | $3878 |
| **Balance at June 30, 2025** | $170950 | $223966 | $358719 | $362789 | $250785 | $295096 | $168312 | $339991 | $345069 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Langley** | **Laurel** | **Layla** | **Liberty** | **Lithonia** | **Lola** | **Lucas** | **Macomber** | **Mallard** |
| **Balance at January 1, 2025** | $(9804) | $351227 | $327146 | $251189 | $261460 | $310873 | $258877 | $273612 | $209524 |
| Issuance of membership units, net of offering costs | $362757 | $- | $- | $- | $- | $- | $- | $- | $- |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Distributions | $(8111) | $(9804) | $(9035) | $(4204) | $(4638) | $(9401) | $(1843) | $(6216) | $(5398) |
| Net income (loss) | $(3108) | $3322 | $1993 | $(1145) | $(1162) | $1734 | $(9383) | $1046 | $2725 |
| **Balance at June 30, 2025** | $341734 | $344745 | $320104 | $245840 | $255660 | $303206 | $247651 | $268442 | $206851 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Marcy** | **Meridian** | **Metallo** | **Misty** | **Montgomery** | **Northbrook** | **Northridge** | **Oakland** | **Palmore** |
| **Balance at January 1, 2025** | $183713 | $263593 | $(6023) | $368363 | $199498 | $286266 | $270152 | $315401 | $197030 |
| Issuance of membership units, net of offering costs | $- | $- | $322979 | $495 | $- | $- | $- | $- | $- |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Distributions | $(6705) | $(5364) | $- | $(8938) | $(3903) | $(6236) | $(5303) | $(9186) | $(1861) |
| Net income (loss) | $1187 | $990 | $(16277) | $3360 | $965 | $1784 | $(1904) | $3777 | $(2757) |
| **Balance at June 30, 2025** | $178194 | $259219 | $300680 | $363280 | $196559 | $281814 | $262945 | $309993 | $192413 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Pebblestone** | **Perdita** | **Phoebe** | **Pongo** | **Portsmouth** | **Presidio** | **Rachel** | **Ratliff** | **Riverwood** |
| **Balance at January 1, 2025** | $339662 | $336641 | $285579 | $339479 | $210312 | $(16120) | $296012 | $321970 | $289911 |
| Issuance of membership units, net of offering costs | $- | $- | $- | $- | $- | $265302 | $- | $- | $- |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $4914 | $- | $- | $- |
| Distributions | $(8721) | $(7138) | $(7846) | $(7720) | $(3536) | $(2895) | $(7481) | $(8548) | $(6426) |
| Net income (loss) | $1428 | $2007 | $1535 | $2559 | $3809 | $(8263) | $(790) | $2658 | $(1168) |
| **Balance at June 30, 2025** | $332369 | $331511 | $279268 | $334318 | $210585 | $242939 | $287741 | $316080 | $282318 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Roanoke** | **Robinson** | **Ross** | **Sansa** | **Sedgefield** | **Seneca** | **Sheezy** | **Sherwood** | **Spangler** |
| **Balance at January 1, 2025** | $340419 | $348264 | $345099 | $186229 | $317949 | $316161 | $231698 | $174504 | $(10312) |
| Issuance of membership units, net of offering costs | $- | $- | $- | $- | $- | $- | $- | $- | $420629 |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $5657 |
| Distributions | $(9123) | $(8550) | $(10119) | $(6238) | $(7937) | $(7638) | $(6291) | $(6349) | $(1499) |
| Net income (loss) | $4238 | $3228 | $2727 | $1969 | $3737 | $2458 | $2169 | $1757 | $(14672) |
| **Balance at June 30, 2025** | $335535 | $342942 | $337707 | $181960 | $313748 | $310980 | $227576 | $169911 | $399803 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Summerglen** | **Tansel** | **Thomas** | **Tomlinson** | **Tytus** | **Vanzant** | **Watson** | **Westhaven** | **Wheeler** |
| **Balance at January 1, 2025** | $236674 | $316489 | $217221 | $(4828) | $263763 | $357285 | $180288 | $243218 | $212230 |
| Issuance of membership units, net of offering costs | $- | $- | $- | $271251 | $- | $- | $- | $- | $- |
| Deemed contribution from Manager | $- | $- | $- | $6525 | $- | $- | $- | $- | $- |
| Distributions | $(4789) | $(3039) | $(4266) | $(1904) | $(7997) | $(9980) | $(5609) | $(3941) | $(6760) |
| Net income (loss) | $1862 | $(3434) | $(5525) | $(26588) | $3798 | $747 | $2679 | $2393 | $3550 |
| **Balance at June 30, 2025** | $233747 | $310016 | $207430 | $244456 | $259564 | $348052 | $177358 | $241670 | $209019 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Williamson** | **Woodland** | **Woodwind** | **Wynde** | **Wyndhurst** | **Zane** | **Consolidated** |
| **Balance at January 1, 2025** | $294597 | $161138 | $245758 | $241137 | $323837 | $171186 | $23873224 |
| Issuance of membership units, net of offering costs | $- | $- | $- | $- | $- | $- | $2711403 |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $28006 |
| Distributions | $(8300) | $(4394) | $(330) | $(6652) | $(3121) | $(5537) | $(569798) |
| Net income (loss) | $(6512) | $1705 | $(8596) | $2927 | $(5339) | $1676 | $(19080) |
| **Balance at June 30, 2025** | $279785 | $158449 | $236833 | $237413 | $315377 | $167325 | $26023756 |

---

See the accompanying notes to these consolidated and consolidating financial statements.

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Antares** | **Aramis** | **Arkoma** | **Arya** | **Aspen** | **Athos** | **Barclay** | **Bean** | **Bennett** |
| **Balance at January 1, 2024** | $319898 | $305955 | $255800 | $189707 | $271438 | $304549 | $329476 | $305397 | $216679 |
| Issuance of membership units, net of offering costs |  | 650 |  |  | (100) | 762 | 289 |  |  |
| Deemed contribution from Manager |  |  |  |  |  |  |  |  |  |
| Distributions | (7137) | (6806) | (6519) | (5080) | (4061) | (7557) | (7963) | (8287) | (6277) |
| Net income (loss) | 1889 | 997 | 2391 | 831 | (7701) | (413) | 967 | 788 | 1963 |
| **Balance at June 30, 2024** | $314651 | $300796 | $251671 | $185457 | $259577 | $297340 | $322769 | $297898 | $212365 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Benny** | **Bluebell** | **Bowling** | **Bradford** | **Brookwood** | **Bryant** | **Caden** | **Camellia** | **Caterpillar** |
| **Balance at January 1, 2024** | $258203 | $318328 | $211130 | $324785 | $282410 | $288572 | $246877 | $273042 | $314213 |
| Issuance of membership units, net of offering costs | (300) |  |  |  | (300) | (300) |  |  |  |
| Deemed contribution from Manager |  |  |  |  |  |  |  |  |  |
| Distributions | (6616) | (8202) | (5381) | (7263) | (6576) | (6886) | (5463) | (7425) | (5790) |
| Net income (loss) | 546 | 3092 | 2304 | 2053 | 1949 | 1008 | (3612) | (485) | (179) |
| **Balance at June 30, 2024** | $251833 | $313217 | $208054 | $319576 | $277483 | $282394 | $237802 | $265132 | $308244 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Chilhowee** | **Claremore** | **Collinison** | **Cordero** | **Cristalino** | **Ellie** | **Emelina** | **Ethan** | **Frances** |
| **Balance at January 1, 2024** | $333585 | $246890 | $321701 | $287156 | $293548 | $299850 | $250360 | $195283 | $(3010) |
| Issuance of membership units, net of offering costs |  | (300) |  |  | (100) |  |  |  | 304290 |
| Deemed contribution from Manager |  |  |  |  |  |  |  |  |  |
| Distributions | (9451) | (6649) | (7725) | (8852) | (2462) | (7532) | (5229) | (3877) | (7791) |
| Net income (loss) | 6012 | (1808) | 2169 | 3411 | (9187) | (3902) | 1058 | (2148) | (551) |
| **Balance at June 30, 2024** | $330145 | $238132 | $316146 | $281714 | $281799 | $288416 | $246189 | $189257 | $292937 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Glenncrest** | **Gordon** | **Haikey** | **Hamblen** | **Hancock** | **Hardman** | **Haven** | **Haverhill** | **Haybridge** |
| **Balance at January 1, 2024** | $(2974) | $268739 | $257206 | $262776 | $275115 | $406226 | $179568 | $230845 | $382626 |
| Issuance of membership units, net of offering costs | 310787 |  |  | (300) | (800) |  |  |  |  |
| Deemed contribution from Manager | 5510 |  |  |  |  |  |  |  |  |
| Distributions | (1311) | (7245) | (6659) | (7693) | (6664) | (9434) | (2871) | (3464) | (8111) |
| Net income (loss) | (6149) | 2086 | 2362 | 4982 | 2394 | 2436 | 602 | 9128 | (2778) |
| **Balance at June 30, 2024** | $305863 | $263580 | $252909 | $259765 | $270044 | $399228 | $177299 | $236509 | $371738 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Hedgecrest** | **Helmerich** | **Hermanos** | **Holmes** | **Johnson** | **Keystone** | **Laurel** | **Layla** | **Liberty** |
| **Balance at January 1, 2024** | $382695 | $267521 | $316341 | $184876 | $- | $366522 | $- | $346216 | $264873 |
| Issuance of membership units, net of offering costs |  |  |  |  |  |  | 364707 |  | 658 |
| Deemed contribution from Manager |  |  |  |  |  |  | 6988 |  |  |
| Distributions | (4900) | (6811) | (2178) | (5814) |  | (8461) | (1457) | (8805) | (5367) |
| Net income (loss) | (5470) | 2981 | (4723) | 3277 | (3621) | (346) | (12076) | (4291) | (3429) |
| **Balance at June 30, 2024** | $372325 | $263691 | $309440 | $182339 | $(3621) | $357716 | $358161 | $333120 | $256735 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Lithonia** | **Lola** | **Lucas** | **Macomber** | **Mallard** | **Marcy** | **Meridian** | **Montgomery** | **Northbrook** |
| **Balance at January 1, 2024** | $288681 | $321499 | $275513 | $289132 | $221670 | $192203 | $276379 | $205383 | $302255 |
| Issuance of membership units, net of offering costs | (300) |  |  |  | 549 |  |  |  |  |
| Deemed contribution from Manager | 3192 |  |  |  |  |  |  |  |  |
| Distributions | (5471) | (8012) | (8036) | (7426) | (6880) | (5101) | (6941) | (2124) | (4802) |
| Net income (loss) | (19265) | 2275 | 1797 | (155) | 97 | (797) | (509) | (1204) | (5163) |
| **Balance at June 30, 2024** | $266837 | $315762 | $269274 | $281552 | $215436 | $186305 | $268928 | $202055 | $292290 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Northridge** | **Oakland** | **Palmore** | **Pebblestone** | **Perdita** | **Phoebe** | **Pongo** | **Portsmouth** | **Rachel** |
| **Balance at January 1, 2024** | $(2896) | $(4381) | $206903 | $355515 | $349607 | $(3721) | $353449 | $219491 | $(3470) |
| Issuance of membership units, net of offering costs | 295804 |  |  |  |  | 302613 |  | (300) | 316212 |
| Deemed contribution from Manager |  | 7656 |  |  |  | 5246 |  |  |  |
| Distributions | (4824) | (1369) | (4712) | (8447) | (7491) | (1242) | (7720) | (6950) | (4988) |
| Net income (loss) | (8121) | (11627) | (2493) | (1183) | 1716 | (13104) | 1267 | 2581 | (7292) |
| **Balance at June 30, 2024** | $279963 | $(9722) | $199698 | $345885 | $343833 | $289792 | $346996 | $214822 | $300462 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Ratliff** | **Riverwood** | **Roanoke** | **Ross** | **Sansa** | **Sedgefield** | **Sheezy** | **Sherwood** | **Summerglen** |
| **Balance at January 1, 2024** | $340241 | $301731 | $351576 | $(3646) | $191739 | $- | $243643 | $178874 | $246203 |
| Issuance of membership units, net of offering costs |  | 864 | 671 | 364451 |  |  |  |  |  |
| Deemed contribution from Manager |  |  |  |  |  |  |  |  |  |
| Distributions | (6966) | (6882) | (9758) | (9135) | (5229) |  | (7517) | (5213) | (7026) |
| Net income (loss) | (6325) | 1816 | 8358 | (373) | 2354 | (11985) | 1148 | 3192 | 3057 |
| **Balance at June 30, 2024** | $326950 | $297530 | $350847 | $351297 | $188864 | $(11985) | $237275 | $176854 | $242233 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Tansel** | **Thomas** | **Tytus** | **Vanzant** | **Watson** | **Westhaven** | **Wheeler** | **Williamson** | **Woodland** |
| **Balance at January 1, 2024** | $328603 | $225638 | $274145 | $(6552) | $184838 | $262942 | $219997 | $303669 | $169207 |
| Issuance of membership units, net of offering costs |  |  | 699 | 384745 | (300) | (300) |  | 465 |  |
| Deemed contribution from Manager |  |  |  |  |  |  |  |  |  |
| Distributions | (8425) | (6515) | (7905) | (7069) | (5616) | (7919) | (6685) | (9073) | (5136) |
| Net income (loss) | 1254 | 2922 | 3620 | (8415) | 3515 | 1188 | 3246 | 3121 | 1486 |
| **Balance at June 30, 2024** | $321433 | $222044 | $270559 | $362708 | $182438 | $255910 | $216558 | $298182 | $165557 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT) (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Woodwind** | **Wynde** | **Wyndhurst** | **Zane** | **Consolidated** |
| **Balance at January 1, 2024** | $258538 | $248596 | $(3113) | $178916 | $19969988 |
| Issuance of membership units, net of offering costs |  |  | 339809 |  | 2985323 |
| Deemed contribution from Manager |  |  |  |  | 28591 |
| Distributions | (6541) | (5160) | (7710) | (5437) | (525555) |
| Net income (loss) | (2618) | 1575 | (3326) | 2072 | (59492) |
| **Balance at June 30, 2024** | $249378 | $245011 | $325660 | $175551 | $22398855 |

---

See the accompanying notes to these consolidated and consolidating financial statements.

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Adams** | **Antares** | **Aramis** | **Arkoma** | **Arya** | **Aspen** | **Athos** | **Barclay** | **Bayne** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $(2145) | $2282 | $1876 | $919 | $2228 | $4603 | $(655) | $2588 | $(5150) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4197 | 4257 | 4123 | 3245 | 2466 | 3679 | 4578 | 4208 | 4807 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses |  | 395 | 450 | 356 | 277 | 399 | 1522 | 363 |  |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | (3436) | (46) | (193) | 589 | 46 | (73) | (1227) | 40 | (5238) |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | (1943) | (264) | 84 | (1143) | (479) | 149 | (3460) | (1057) | (1622) |
| &nbsp;&nbsp;&nbsp;Tenant deposits | 250 |  |  |  |  |  |  |  | 2745 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 3493 | 1080 | 1042 | 845 | (4200) | (374) | 1873 | 1100 | 7258 |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 416 | 7704 | 7382 | 4811 | 338 | 8384 | 2631 | 7242 | 2800 |
| **Cash flows from investing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Purchases of property improvements | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;Net cash used in investing activities | - | - | - | - | - | - | - | - | - |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party | (22441) |  |  |  |  |  |  |  | (26715) |
| &nbsp;&nbsp;&nbsp;Repayments of bridge financing, related party | (288000) |  |  |  |  |  |  |  | (328683) |
| &nbsp;&nbsp;&nbsp;Proceeds from notes payable, related party |  |  |  |  | 6000 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units | 334077 |  |  |  |  |  |  |  | 380478 |
| &nbsp;&nbsp;&nbsp;Distributions | (6568) | (7064) | (5924) | (5839) | (4091) | (4500) | (5050) | (7708) | (5878) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | 17069 | (7064) | (5924) | (5839) | 1909 | (4500) | (5050) | (7708) | 19202 |
| **Net change in cash** | 17485 | 640 | 1458 | (1028) | 2248 | 3883 | (2418) | (466) | 22002 |
| **Cash at beginning of period** | - | 12203 | 7204 | 23313 | 2277 | 3249 | 9313 | 24025 | - |
| **Cash at end of period** | $17485 | $12843 | $8663 | $22286 | $4524 | $7133 | $6895 | $23559 | $22002 |
| **Cash paid for income taxes** | $118 | $250 | $250 | $153 | $153 | $200 | $250 | $645 | $100 |
| **Cash paid for interest expenses** | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $5136 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Bean** | **Bennett** | **Benny** | **Bluebell** | **Bowling** | **Boxwood** | **Bradford** | **Brookwood** | **Bryant** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $2532 | $3394 | $479 | $2831 | $2081 | $(9908) | $2253 | $1857 | $(90) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4029 | 2910 | 3503 | 4108 | 2862 | 4420 | 4180 | 3854 | 4392 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 450 | 310 | 940 | 440 | 346 |  | 356 | 334 | 1252 |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | 26 | (391) | 37 | (48) | (104) | (6417) |  | 1 | 171 |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | (2076) | (1119) | 910 | 684 | (783) | (1591) | (818) | 366 | (3848) |
| &nbsp;&nbsp;&nbsp;Tenant deposits |  |  |  |  |  | 4390 |  |  |  |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 986 | 1495 | 956 | 1036 | 1053 | 6651 | 1237 | (165) | 1672 |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 5946 | 6599 | 6825 | 9051 | 5456 | (2456) | 7209 | 6247 | 3549 |
| **Cash flows from investing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Purchases of property improvements | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;Net cash used in investing activities | - | - | - | - | - | - | - | - | - |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party |  |  |  |  |  | (20168) |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of bridge financing, related party |  |  |  |  |  | (308000) |  |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from notes payable, related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units |  |  |  |  |  | 353436 |  |  |  |
| &nbsp;&nbsp;&nbsp;Distributions | (7230) | (6076) | (4265) | (7811) | (5454) | (5191) | (7263) | (6210) | (5728) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (7230) | (6076) | (4265) | (7811) | (5454) | 20077 | (7263) | (6210) | (5728) |
| **Net change in cash** | (1284) | 523 | 2559 | 1240 | 2 | 17621 | (54) | 37 | (2180) |
| **Cash at beginning of period** | 11429 | 7455 | 3024 | 19029 | 5720 | - | 22583 | 6608 | 8432 |
| **Cash at end of period** | $10145 | $7979 | $5584 | $20269 | $5722 | $17621 | $22529 | $6645 | $6253 |
| **Cash paid for income taxes** | $715 | $200 | $- | $- | $- | $213 | $642 | $200 | $250 |
| **Cash paid for interest expenses** | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $5775 | $- | $- | $- |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Caden** | **Camellia** | **Caterpillar** | **Chilhowee** | **Claremore** | **Collinison** | **Cordero** | **Cristalino** | **Ellie** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $(172) | $527 | $(7105) | $3600 | $942 | $98 | $2868 | $3763 | $(11666) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 3437 | 4811 | 4124 | 4471 | 3232 | 4666 | 3860 | 4225 | 3948 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 406 | 409 | 1772 | 511 | 711 | 414 | 340 | 560 | 482 |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | (2349) | 179 | 4991 | (2273) | (1075) | (3649) | (41) | 383 | 505 |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 417 | 200 | 1965 | (1991) | (123) | (2326) | (1536) | (1154) | 1338 |
| &nbsp;&nbsp;&nbsp;Tenant deposits |  |  |  |  |  |  |  |  | (2445) |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 1824 | 1232 | 1100 | 1296 | 1198 | 1349 | 1029 | 1075 | 7865 |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 3564 | 7358 | 6847 | 5615 | 4885 | 551 | 6520 | 8853 | 29 |
| **Cash flows from investing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Purchases of property improvements | - | - | - | - | - | (5140) | - | - | - |
| &nbsp;&nbsp;&nbsp;Net cash used in investing activities | - | - | - | - | - | (5140) | - | - | - |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of bridge financing, related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from notes payable, related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Distributions | (2261) | (6562) | (3467) | (7079) | (2947) | (4948) | (7394) | (5756) | (971) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (2261) | (6562) | (3467) | (7079) | (2947) | (4948) | (7394) | (5756) | (971) |
| **Net change in cash** | 1302 | 795 | 3381 | (1464) | 1938 | (9537) | (873) | 3096 | (942) |
| **Cash at beginning of period** | 1152 | 5838 | 11778 | 12661 | - | 24688 | 14543 | 6894 | 4683 |
| **Cash at end of period** | $2454 | $6634 | $15159 | $11197 | $1938 | $15151 | $13669 | $9990 | $3741 |
| **Cash paid for income taxes** | $- | $- | $- | $774 | $- | $738 | $50 | $50 | $701 |
| **Cash paid for interest expenses** | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $- |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Emelina** | **Ethan** | **Frances** | **Glenncrest** | **Gordon** | **Haikey** | **Hamblen** | **Hancock** | **Hardman** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $(2125) | $(972) | $4101 | $1114 | $1572 | $945 | $(2172) | $2091 | $2255 |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4121 | 4147 | 3837 | 3991 | 3512 | 3368 | 3527 | 4227 | 5326 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 426 | 344 | 376 | 418 | 376 | 738 | 403 | 477 | 406 |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | 2283 | (443) | 5 | 2161 | 253 | 216 | 2140 | 1940 | 284 |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 92 | (145) | (3042) | (1277) | (157) | 514 | (3060) | (642) | (3657) |
| &nbsp;&nbsp;&nbsp;Tenant deposits | (2195) |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | (935) | 472 | 983 | 2021 | 919 | 1355 | 996 | (2398) | 1269 |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 1667 | 3404 | 6261 | 8428 | 6475 | 7136 | 1833 | 5694 | 5883 |
| **Cash flows from investing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Purchases of property improvements | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;Net cash used in investing activities | - | - | - | - | - | - | - | - | - |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of bridge financing, related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from notes payable, related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Distributions | (3021) | (2686) | (9895) | (7293) | (6819) | (6311) | (6094) | (7418) | (9433) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (3021) | (2686) | (9895) | (7293) | (6819) | (6311) | (6094) | (7418) | (9433) |
| **Net change in cash** | (1354) | 718 | (3634) | 1135 | (345) | 824 | (4261) | (1724) | (3550) |
| **Cash at beginning of period** | 3176 | 3281 | 19302 | 18053 | 14335 | 10753 | 13581 | 7665 | 18728 |
| **Cash at end of period** | $1822 | $3999 | $15668 | $19188 | $13990 | $11577 | $9320 | $5940 | $15178 |
| **Cash paid for income taxes** | $- | $- | $202 | $- | $200 | $495 | $1350 | $250 | $950 |
| **Cash paid for interest expenses** | $6314 | $- | $- | $- | $- | $- | $- | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $- |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Haven** | **Haverhill** | **Haybridge** | **Hedgecrest** | **Helmerich** | **Hermanos** | **Holmes** | **Johnson** | **Keystone** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $2529 | $1227 | $(5837) | $5363 | $1511 | $597 | $(7580) | $3719 | $3878 |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 2549 | 3225 | 4931 | 5336 | 3462 | 5914 | 2419 | 4510 | 4784 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 315 | 386 | 394 | 394 | 707 | 464 | 274 |  | 539 |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | 650 | (50) | (1991) | 453 | 370 | (516) | 4068 | (159) | (2147) |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | (727) | 1500 | 1301 | (357) | (410) | (630) | (1319) | (2900) | (3525) |
| &nbsp;&nbsp;&nbsp;Tenant deposits |  |  | 3990 |  |  |  | (1395) |  |  |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | (4815) | 902 | 1006 | 1184 | 1420 | (7014) | 681 | 1248 | 1202 |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 501 | 7190 | 3794 | 12373 | 7061 | (1186) | (2851) | 6417 | 4731 |
| **Cash flows from investing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Purchases of property improvements | - | - | - | (6073) | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;Net cash used in investing activities | - | - | - | (6073) | - | - | - | - | - |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of bridge financing, related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from notes payable, related party | 5700 |  |  |  |  | 7700 |  |  |  |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Distributions | (4242) | (6402) | (4984) | (7097) | (6510) | (5408) | (3076) | (8429) | (8621) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | 1458 | (6402) | (4984) | (7097) | (6510) | 2292 | (3076) | (8429) | (8621) |
| **Net change in cash** | 1959 | 787 | (1190) | (797) | 551 | 1106 | (5928) | (2011) | (3890) |
| **Cash at beginning of period** | 2123 | 6658 | 18262 | 16561 | 15946 | 6549 | 12837 | 23239 | 16296 |
| **Cash at end of period** | $4082 | $7446 | $17072 | $15764 | $16497 | $7655 | $6909 | $21227 | $12406 |
| **Cash paid for income taxes** | $- | $200 | $402 | $948 | $- | $- | $153 | $450 | $851 |
| **Cash paid for interest expenses** | $- | $- | $- | $- | $191 | $- | $7746 | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $- |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Langley** | **Laurel** | **Layla** | **Liberty** | **Lithonia** | **Lola** | **Lucas** | **Macomber** | **Mallard** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $(3108) | $3322 | $1993 | $(1145) | $(1162) | $1734 | $(9383) | $1046 | $2725 |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4559 | 4631 | 4453 | 5545 | 4963 | 4144 | 4070 | 4286 | 2862 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses |  | 482 | 506 | 1100 | 414 | 415 | 1292 | 1370 | 355 |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | (4557) | 80 | (12) | 23 | (149) | 23 | (2002) | (67) | 1352 |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | (4316) | (2777) | (2926) | (2201) | 1056 | (2770) | (3330) | (3734) | (1057) |
| &nbsp;&nbsp;&nbsp;Tenant deposits |  |  |  |  |  |  | 2395 |  |  |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 5318 | 1167 | 1097 | 1033 | 1137 | 1040 | 899 | 1712 | 875 |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | (2103) | 6905 | 5111 | 4355 | 6259 | 4586 | (6059) | 4613 | 7112 |
| **Cash flows from investing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Purchases of property improvements | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;Net cash used in investing activities | - | - | - | - | - | - | - | - | - |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party | (20434) |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of bridge financing, related party | (318000) |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from notes payable, related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units | 362757 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Distributions | (8111) | (9804) | (9035) | (4204) | (4638) | (9401) | (1843) | (6216) | (5398) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | 16212 | (9804) | (9035) | (4204) | (4638) | (9401) | (1843) | (6216) | (5398) |
| **Net change in cash** | 14109 | (2899) | (3924) | 151 | 1621 | (4815) | (7902) | (1603) | 1714 |
| **Cash at beginning of period** | - | 24838 | 14604 | 4897 | 6926 | 20051 | 15168 | 10353 | 11162 |
| **Cash at end of period** | $14109 | $21939 | $10680 | $5048 | $8548 | $15236 | $7266 | $8750 | $12876 |
| **Cash paid for income taxes** | $- | $450 | $794 | $200 | $200 | $739 | $200 | $250 | $- |
| **Cash paid for interest expenses** | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $- |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Marcy** | **Meridian** | **Metallo** | **Misty** | **Montgomery** | **Northbrook** | **Northridge** | **Oakland** | **Palmore** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $1187 | $990 | $(16277) | $3360 | $965 | $1784 | $(1904) | $3777 | $(2757) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 2466 | 4492 | 3340 | 4723 | 4173 | 3872 | 3535 | 4222 | 3455 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 277 | 492 |  |  | 360 | 376 | 390 | 439 | (580) |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | 760 | 34 | 1617 | (2267) | (423) | 103 | (148) | (314) | 84 |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | (1054) | (832) | (4736) | 1378 | 111 | (3569) | (165) | (2774) | (1118) |
| &nbsp;&nbsp;&nbsp;Tenant deposits |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 745 | 950 | 6504 | 108 | 801 | 1000 | 1185 | 1049 | (758) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 4382 | 6126 | (9551) | 7302 | 5987 | 3566 | 2894 | 6400 | (1673) |
| **Cash flows from investing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Purchases of property improvements | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;Net cash used in investing activities | - | - | - | - | - | - | - | - | - |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| Repayments of amounts due to related party |  |  | (14673) |  |  |  |  |  |  |
| Repayments of bridge financing, related party |  |  | (284000) |  |  |  |  |  |  |
| Proceeds from notes payable, related party |  |  |  |  |  |  |  |  |  |
| Net proceeds from the issuance of membership units |  |  | 322979 | 495 |  |  |  |  |  |
| Distributions | (6705) | (5364) | - | (8938) | (3903) | (6236) | (5303) | (9186) | (1861) |
| Net cash provided by (used in) financing activities | (6705) | (5364) | 24306 | (8443) | (3903) | (6236) | (5303) | (9186) | (1861) |
| **Net change in cash** | (2324) | 762 | 14755 | (1141) | 2084 | (2670) | (2409) | (2786) | (3534) |
| **Cash at beginning of period** | 10940 | 4306 | - | 25490 | 4362 | 16387 | 19278 | 18656 | 4155 |
| **Cash at end of period** | $8616 | $5068 | $14755 | $24349 | $6446 | $13717 | $16869 | $15870 | $621 |
| **Cash paid for income taxes** | $153 | $- | $153 | $- | $- | $195 | $- | $751 | $- |
| **Cash paid for interest expenses** | $- | $7656 | $- | $- | $- | $6011 | $- | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $- |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Pebblestone** | **Perdita** | **Phoebe** | **Pongo** | **Portsmouth** | **Presidio** | **Rachel** | **Ratliff** | **Riverwood** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $1428 | $2007 | $1535 | $2559 | $3809 | $(8263) | $(790) | $2658 | $(1168) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4642 | 4560 | 3818 | 4560 | 3331 | 3288 | 3972 | 4394 | 5020 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 539 | 406 | 414 | 406 | 319 |  | 414 | 415 | 455 |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | (108) |  | (15) |  | (787) | (3336) | 800 | 597 | (72) |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | (3535) | (744) | (3329) | (860) | (1333) | (4297) | (3417) | (3057) | 579 |
| &nbsp;&nbsp;&nbsp;Tenant deposits |  |  |  |  |  | 1745 | (1098) |  |  |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 1131 | 1350 | 1002 | 1340 | 961 | 4468 | 1024 | 1094 | 1192 |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 4097 | 7579 | 3425 | 8005 | 6301 | (6395) | 905 | 6101 | 6005 |
| **Cash flows from investing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Purchases of property improvements | - | - | - | - | (5989) | - | - | - | - |
| &nbsp;&nbsp;&nbsp;Net cash used in investing activities | - | - | - | - | (5989) | - | - | - | - |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party |  |  |  |  |  | (15196) |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of bridge financing, related party |  |  |  |  |  | (229000) |  |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from notes payable, related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units |  |  |  |  |  | 265302 |  |  |  |
| &nbsp;&nbsp;&nbsp;Distributions | (8721) | (7138) | (7846) | (7720) | (3536) | (2895) | (7481) | (8548) | (6426) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (8721) | (7138) | (7846) | (7720) | (3536) | 18211 | (7481) | (8548) | (6426) |
| **Net change in cash** | (4624) | 442 | (4421) | 285 | (3224) | 11816 | (6576) | (2447) | (420) |
| **Cash at beginning of period** | 14763 | 20002 | 17909 | 22874 | 8984 | - | 17393 | 14030 | 7240 |
| **Cash at end of period** | $10139 | $20443 | $13488 | $23159 | $5760 | $11816 | $10817 | $11584 | $6820 |
| **Cash paid for income taxes** | $825 | $682 | $1387 | $682 | $- | $- | $708 | $782 | $250 |
| **Cash paid for interest expenses** | $- | $- | $- | $- | $- | $7917 | $- | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $4914 | $- | $- | $- |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Roanoke** | **Robinson** | **Ross** | **Sansa** | **Sedgefield** | **Seneca** | **Sheezy** | **Sherwood** | **Spangler** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $4238 | $3228 | $2727 | $1969 | $3737 | $2458 | $2169 | $1757 | $(14672) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4604 | 4409 | 4582 | 2466 | 4014 | 4057 | 3215 | 2398 | 5872 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | (788) |  | 527 | 277 | 418 |  | 351 | 276 |  |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | (3250) | (850) | 58 | 62 | (2059) | (844) | (69) | 811 | (2596) |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | (3343) | (1055) | (3592) | (657) | (588) | (842) | (3064) | (1267) | (12174) |
| &nbsp;&nbsp;&nbsp;Tenant deposits |  | 250 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 1314 | 4840 | 1126 | 724 | 9003 | 1740 | 996 | 719 | 10602 |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 2775 | 10823 | 5427 | 4841 | 14524 | 6568 | 3599 | 4694 | (12969) |
| **Cash flows from investing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Purchases of property improvements | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;Net cash used in investing activities | - | - | - | - | - | - | - | - | - |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party |  |  |  |  |  |  |  |  | (26324) |
| &nbsp;&nbsp;&nbsp;Repayments of bridge financing, related party |  |  |  |  |  |  |  |  | (362000) |
| &nbsp;&nbsp;&nbsp;Proceeds from notes payable, related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units |  |  |  |  |  |  |  |  | 420629 |
| &nbsp;&nbsp;&nbsp;Distributions | (9123) | (8550) | (10119) | (6238) | (7937) | (7638) | (6291) | (6349) | (1499) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (9123) | (8550) | (10119) | (6238) | (7937) | (7638) | (6291) | (6349) | 30806 |
| **Net change in cash** | (6348) | 2272 | (4692) | (1397) | 6587 | (1069) | (2693) | (1656) | 17837 |
| **Cash at beginning of period** | 22621 | 24787 | 23357 | 13296 | 23488 | 23414 | 14858 | 8977 | - |
| **Cash at end of period** | $16273 | $27059 | $18665 | $11900 | $30074 | $22344 | $12165 | $7321 | $17837 |
| **Cash paid for income taxes** | $- | $214 | $817 | $153 | $402 | $- | $572 | $153 | $- |
| **Cash paid for interest expenses** | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $5657 |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Summerglen** | **Tansel** | **Thomas** | **Tomlinson** | **Tytus** | **Vanzant** | **Watson** | **Westhaven** | **Wheeler** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $1862 | $(3434) | $(5525) | $(26588) | $3798 | $747 | $2679 | $2393 | $3550 |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 3330 | 4476 | 3015 | 3332 | 3579 | 4862 | 2419 | 3508 | 2864 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 671 | 970 | 285 |  | 349 | 357 | 274 | 344 | 346 |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | (968) | 2947 | 1973 | (3939) | (89) | 846 | 28 | (3521) | (378) |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | (86) | 252 | (553) | (1934) | (3620) | (874) | (1300) | (1881) | (944) |
| &nbsp;&nbsp;&nbsp;Tenant deposits |  | (2395) |  | 2250 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 1352 | (829) | 576 | 10015 | 1049 | 1191 | 723 | 1160 | 987 |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 6162 | 1986 | (229) | (16863) | 5065 | 7130 | 4824 | 2004 | 6425 |
| **Cash flows from investing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Purchases of property improvements | - | - | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;Net cash used in investing activities | - | - | - | - | - | - | - | - | - |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party |  |  |  | (15430) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of bridge financing, related party |  |  |  | (232000) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from notes payable, related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units |  |  |  | 271251 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Distributions | (4789) | (3039) | (4266) | (1904) | (7997) | (9980) | (5609) | (3941) | (6760) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (4789) | (3039) | (4266) | 21917 | (7997) | (9980) | (5609) | (3941) | (6760) |
| **Net change in cash** | 1373 | (1053) | (4494) | 5054 | (2932) | (2851) | (785) | (1937) | (335) |
| **Cash at beginning of period** | 6370 | 6633 | 9480 | - | 19226 | 15649 | 14142 | 6388 | 14689 |
| **Cash at end of period** | $7743 | $5580 | $4986 | $5054 | $16294 | $12798 | $13357 | $4451 | $14353 |
| **Cash paid for income taxes** | $- | $250 | $200 | $- | $- | $153 | $153 | $- | $- |
| **Cash paid for interest expenses** | $- | $- | $- | $- | $35834 | $- | $- | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Deemed contribution from Manager | $- | $- | $- | $6525 | $- | $- | $- | $- | $- |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2025**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Williamson** | **Woodland** | **Woodwind** | **Wynde** | **Wyndhurst** | **Zane** | **Consolidated** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $(6512) | $1705 | $(8596) | $2927 | $(5339) | $1676 | $(19080) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 3940 | 2927 | 3504 | 4024 | 4257 | 2241 | 379050 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | (868) | 298 | 301 | 483 | 461 | 302 | 37925 |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | 2074 | (159) | 1283 | 100 | (3006) | 78 | (30319) |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | (3131) | (755) | 850 | 318 | 215 | (787) | (135281) |
| &nbsp;&nbsp;&nbsp;Tenant deposits |  |  | (1695) |  | 1745 |  | 8538 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 1001 | 199 | 2551 | (4758) | 1240 | 693 | 133140 |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | (3497) | 4215 | (1801) | 3095 | (428) | 4202 | 373973 |
| **Cash flows from investing activities** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Purchases of property improvements | - | - | - | - | - | - | (17202) |
| &nbsp;&nbsp;&nbsp;Net cash used in investing activities | - | - | - | - | - | - | (17202) |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party |  |  |  |  |  |  | (161381) |
| &nbsp;&nbsp;&nbsp;Repayments of bridge financing, related party |  |  |  |  |  |  | (2349683) |
| &nbsp;&nbsp;&nbsp;Proceeds from notes payable, related party |  |  |  | 5800 |  |  | 25200 |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units |  |  |  |  |  |  | 2711403 |
| &nbsp;&nbsp;&nbsp;Distributions | (8300) | (4394) | (330) | (6652) | (3121) | (5537) | (569798) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (8300) | (4394) | (330) | (852) | (3121) | (5537) | (344259) |
| **Net change in cash** | (11797) | (179) | (2131) | 2243 | (3549) | (1335) | 12513 |
| **Cash at beginning of period** | 20047 | 4751 | 4408 | 4051 | 22986 | 15987 | 1129818 |
| **Cash at end of period** | $8250 | $4572 | $2277 | $6294 | $19438 | $14652 | $1142331 |
| **Cash paid for income taxes** | $- | $- | $200 | $- | $- | $- | $25771 |
| **Cash paid for interest expenses** | $- | $- | $- | $- | $- | $- | $71668 |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $28006 |

---

See the accompanying notes to these consolidated and consolidating financial statements.

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Antares** | **Aramis** | **Arkoma** | **Arya** | **Aspen** | **Athos** | **Barclay** | **Bean** | **Bennett** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $1889 | $997 | $2391 | $831 | $(7701) | $(413) | $967 | $788 | $1963 |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4257 | 4123 | 3245 | 2466 | 3679 | 4578 | 4208 | 4029 | 2910 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | (104) | (101) | (82) |  | (234) | (101) | (102) |  | (196) |
| &nbsp;&nbsp;&nbsp;Deposits | (2395) | (3790) | (1595) | (1395) | (1795) | (4190) |  | (2145) | (1695) |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | (1871) | (1720) | (1431) | (1415) | (2164) | (738) | (1925) | (80) | (1685) |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 4788 | 4738 | 4130 | 2669 | 4557 | 5796 | 4809 | 6022 | 3361 |
| &nbsp;&nbsp;&nbsp;Accounts payable |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Tenant Deposits | 2395 | 3790 | 1595 | 1395 | 1795 | 4190 |  | 2145 | 1695 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | (1653) | (7150) | (1988) | (7697) | 454 | (9124) | (2007) | (3232) | (4888) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 7307 | 887 | 6265 | (3145) | (1409) | (2) | 5949 | 7527 | 1465 |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units |  | 650 |  |  | (100) | 762 | 289 |  |  |
| &nbsp;&nbsp;&nbsp;Distributions | (7137) | (6806) | (6519) | (5080) | (4061) | (7557) | (7963) | (8287) | (6277) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (7137) | (6156) | (6519) | (5080) | (4161) | (6795) | (7674) | (8287) | (6277) |
| **Net change in cash** | 169 | (5269) | (254) | (8225) | (5569) | (6797) | (1725) | (760) | (4812) |
| **Cash at beginning of period** | 16454 | 17696 | 26399 | 19482 | 9587 | 22229 | 30661 | 17617 | 15006 |
| **Cash at end of period** | $16623 | $12427 | $26145 | $11256 | $4018 | $15432 | $28936 | $16857 | $10194 |
| **Cash paid for income taxes** | $- | $- | $- | $- | $- | $- | $- | $625 | $- |
| **Cash paid for interest expenses** | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Advance from related party for acquisition of property | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Acquisition of property | $310000 | $300000 | $237000 | $180000 | $267750 | $290000 | $307000 | $292720 | $211650 |
| Mortgage payable, net of capitalized loan costs for acquisition of property | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $- |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Benny** | **Bluebell** | **Bowling** | **Bradford** | **Brookwood** | **Bryant** | **Caden** | **Camellia** | **Caterpillar** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $546 | $3092 | $2304 | $2053 | $1949 | $1008 | $(3612) | $(485) | $(179) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 3503 | 4108 | 2862 | 4180 | 3854 | 4392 | 3437 | 4811 | 4124 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | (952) | (101) | (769) | (102) | (257) | (95) | (607) | (258) |  |
| &nbsp;&nbsp;&nbsp;Deposits | (1795) | (2345) |  | (2145) | (1795) | (2095) | (1695) | (1795) | (1795) |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | (1708) | (1968) | (2558) | (1784) | (2035) | (1883) | (1683) | (2830) | (1810) |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 4638 | 4784 | 3678 | 5576 | 4145 | 5099 | 3541 | 4350 | 4678 |
| &nbsp;&nbsp;&nbsp;Accounts payable |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Tenant Deposits | 1795 | 2345 |  | 2145 | 1795 | 2095 | 1695 | 1795 | 1795 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | (3011) | 2429 | (7608) | 5381 | (4462) | (1539) | 3992 | (7408) | (739) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 3017 | 12344 | (2092) | 15305 | 3194 | 6981 | 5068 | (1821) | 6075 |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units | (300) |  |  |  | (300) | (300) |  |  |  |
| &nbsp;&nbsp;&nbsp;Distributions | (6616) | (8202) | (5381) | (7263) | (6576) | (6886) | (5463) | (7425) | (5790) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (6916) | (8202) | (5381) | (7263) | (6876) | (7186) | (5463) | (7425) | (5790) |
| **Net change in cash** | (3900) | 4142 | (7473) | 8043 | (3682) | (204) | (395) | (9246) | 285 |
| **Cash at beginning of period** | 12309 | 22871 | 15852 | 20297 | 13170 | 11462 | 10861 | 20502 | 19632 |
| **Cash at end of period** | $8409 | $27013 | $8379 | $28340 | $9487 | $11258 | $10466 | $11257 | $19917 |
| **Cash paid for income taxes** | $421 | $- | $- | $- | $- | $- | $- | $- | $- |
| **Cash paid for interest expenses** | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Advance from related party for acquisition of property | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Acquisition of property | $255000 | $300000 | $208000 | $305000 | $280500 | $279900 | $250000 | $255000 | $300000 |
| Mortgage payable, net of capitalized loan costs for acquisition of property | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $- |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Chilhowee** | **Claremore** | **Collinison** | **Cordero** | **Cristalino** | **Ellie** | **Emelina** | **Ethan** | **Frances** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $6012 | $(1808) | $2169 | $3411 | $(9187) | $(3902) | $1058 | $(2148) | $(551) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4471 | 3232 | 4152 | 3860 | 4225 | 3948 | 4121 | 3277 | 3198 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | (673) | (79) |  | (161) | (384) |  | (261) | (138) |  |
| &nbsp;&nbsp;&nbsp;Deposits | (2495) | (3143) | (2345) | (2495) | (2995) | (2445) | (2195) | (1475) | (2245) |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | (2447) | (1068) | (2233) | (2002) | (2345) | 1027 | (1112) | (351) | (1921) |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 5508 | 3692 | 5527 | 4757 | 3993 | 5743 | 3062 | 2475 | 4660 |
| &nbsp;&nbsp;&nbsp;Accounts payable |  |  |  |  |  | 1027 |  |  |  |
| &nbsp;&nbsp;&nbsp;Tenant Deposits | 2495 | 3143 | 2345 | 2495 | 2995 | 2445 | 2195 | 1475 | 2245 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | (1026) | (2012) | 18569 | 242 | 8219 | (4900) | (3597) | 2237 | 48436 |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 11844 | 1956 | 28183 | 10108 | 4521 | 2943 | 3271 | 5351 | 53822 |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party |  |  |  |  |  |  |  |  | (329360) |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units |  | (300) |  |  | (100) |  |  |  | 304290 |
| &nbsp;&nbsp;&nbsp;Distributions | (9451) | (6649) | (7725) | (8852) | (2462) | (7532) | (5229) | (3877) | (7791) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (9451) | (6949) | (7725) | (8852) | (2562) | (7532) | (5229) | (3877) | (32862) |
| **Net change in cash** | 2393 | (4994) | 20459 | 1256 | 1959 | (4589) | (1958) | 1474 | 20960 |
| **Cash at beginning of period** | 20622 | 17900 | 2979 | 19302 | 7769 | 17548 | 5191 | 2375 | - |
| **Cash at end of period** | $23015 | $12906 | $23438 | $20558 | $9728 | $12958 | $3234 | $3849 | $20960 |
| **Cash paid for income taxes** | $907 | $396 | $121 | $50 | $100 | $230 | $- | $- | $- |
| **Cash paid for interest expenses** | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Advance from related party for acquisition of property | $- | $- | $- | $- | $- | $- | $- | $- | $277990 |
| Acquisition of property | $323840 | $234500 | $301000 | $255000 | $310000 | $286660 | $250000 | $193000 | $277990 |
| Mortgage payable, net of capitalized loan costs for acquisition of property | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $- |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Glenncrest** | **Gordon** | **Haikey** | **Hamblen** | **Hancock** | **Hardman** | **Haven** | **Haverhill** | **Haybridge** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $(6149) | $2086 | $2362 | $4982 | $2394 | $2436 | $602 | $9128 | $(2778) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 3991 | 3512 | 3368 | 3527 | 4227 | 5326 | 2549 | 3225 | 4931 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses |  | (176) |  | (635) | (93) |  | (882) | (257) |  |
| &nbsp;&nbsp;&nbsp;Deposits | (3990) | (1895) | (1795) | (2095) | (2045) | (2495) |  | (1745) | (2095) |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | (1927) | (1750) | (1762) | (2018) | (2165) | (2246) | 670 | (1917) | (2012) |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 4276 | 4963 | 4699 | 5540 | 4024 | 5722 | 889 | 3563 | 6001 |
| &nbsp;&nbsp;&nbsp;Accounts payable |  |  |  |  |  |  | 670 |  |  |
| &nbsp;&nbsp;&nbsp;Tenant Deposits | 3990 | 1895 | 1795 | 2095 | 2045 | 2495 |  | 1745 | 2095 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 36269 | 992 | (2919) | (2289) | (144) | (802) | (10392) | (2517) | (237) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 36460 | 9628 | 5747 | 9107 | 8243 | 10437 | (5894) | 11224 | 5904 |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party | (327517) |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units | 310787 |  |  | (300) | (800) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Distributions | (1311) | (7245) | (6659) | (7693) | (6664) | (9434) | (2871) | (3464) | (8111) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (18041) | (7245) | (6659) | (7993) | (7464) | (9434) | (2871) | (3464) | (8111) |
| **Net change in cash** | 18419 | 2382 | (912) | 1114 | 779 | 1003 | (8765) | 7760 | (2206) |
| **Cash at beginning of period** | - | 17148 | 18832 | 14963 | 7185 | 20323 | 8774 | 4238 | 25648 |
| **Cash at end of period** | $18419 | $19530 | $17920 | $16077 | $7963 | $21325 | $9 | $11998 | $23442 |
| **Cash paid for income taxes** | $101 | $- | $409 | $- | $- | $172 | $167 | $- | $- |
| **Cash paid for interest expenses** | $6314 | $- | $- | $- | $- | $- | $- | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Advance from related party for acquisition of property | $290000 | $- | $- | $- | $- | $- | $- | $- | $- |
| Acquisition of property | $290000 | $255000 | $244600 | $256280 | $270000 | $387500 | $185000 | $234600 | $360000 |
| Mortgage payable, net of capitalized loan costs for acquisition of property | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deemed contribution from Manager | $5510 | $- | $- | $- | $- | $- | $- | $- | $- |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Hedgecrest** | **Helmerich** | **Hermanos** | **Holmes** | **Johnson** | **Keystone** | **Laurel** | **Layla** | **Liberty** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $(5470) | $2981 | $(4723) | $3277 | $(3621) | $(346) | $(12076) | $(4291) | $(3429) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4931 | 3462 | 5914 | 2419 |  | 3987 | 3087 | 4453 | 4170 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses |  | (84) | (1320) | (110) |  |  |  |  | (86) |
| &nbsp;&nbsp;&nbsp;Deposits | (1995) | (2095) |  | (1395) |  | (2295) | (2295) | (2695) | (2395) |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | (1516) | (1788) | 500 | (1454) | 2723 | (2286) | (1769) | (2263) | 14151 |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 4948 | 5066 | 2061 | 2956 | 906 | 6336 | 4451 | 5196 | 3629 |
| &nbsp;&nbsp;&nbsp;Accounts payable |  |  | 500 |  | 2723 |  |  |  | 14151 |
| &nbsp;&nbsp;&nbsp;Tenant Deposits | 1995 | 2095 |  | 1395 |  | 2295 | 2295 | 2695 | 2395 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | (227) | 731 | (19976) | (2610) | (2729) | (725) | (217197) | (1749) | (24833) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 2666 | 10368 | (17042) | 4477 | - | 6967 | (223505) | 1346 | 7753 |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party |  |  |  |  |  |  | (115653) |  |  |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units |  |  |  |  |  |  | 364707 |  | 658 |
| &nbsp;&nbsp;&nbsp;Distributions | (4900) | (6811) | (2178) | (5814) | - | (8461) | (1457) | (8805) | (5367) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (4900) | (6811) | (2178) | (5814) | - | (8461) | 247597 | (8805) | (4709) |
| **Net change in cash** | (2234) | 3557 | (19220) | (1336) |  | (1494) | 24092 | (7459) | 3044 |
| **Cash at beginning of period** | 25648 | 18024 | 20497 | 16072 | - | 20391 | - | 25430 | 8847 |
| **Cash at end of period** | $23414 | $21581 | $1278 | $14736 | $- | $18897 | $24092 | $17971 | $11891 |
| **Cash paid for income taxes** | $- | $416 | $50 | $- | $- | $155 | $- | $163 | $- |
| **Cash paid for interest expenses** | $- | $- | $- | $- | $191 | $- | $7746 | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Advance from related party for acquisition of property | $- | $- | $- | $- | $- | $- | $335245 | $- | $- |
| Acquisition of property | $360000 | $254340 | $310000 | $176290 | $326070 | $346780 | $335245 | $323670 | $250000 |
| Mortgage payable, net of capitalized loan costs for acquisition of property | $- | $- | $- | $- | $305663 | $- | $- | $- | $- |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $6988 | $- | $- |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Lithonia** | **Lola** | **Lucas** | **Macomber** | **Mallard** | **Marcy** | **Meridian** | **Montgomery** | **Northbrook** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $(19265) | $2275 | $1797 | $(155) | $97 | $(797) | $(509) | $(1204) | $(5163) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4426 | 4144 | 3503 | 4286 | 2862 | 2466 | 4206 | 3267 | 3872 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | (260) |  | (87) | (94) | (123) |  | (181) | (129) |  |
| &nbsp;&nbsp;&nbsp;Deposits | (3990) | (2345) | (2495) | (2445) | (2195) | (2690) | (1850) | (2468) | (1895) |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | (2327) | (2041) | (1720) | (1403) | (761) | (1344) | (1733) | 1461 | (1696) |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 3553 | 4977 | 5802 | 5862 | 4373 | 4034 | 4542 | 2872 | 4636 |
| &nbsp;&nbsp;&nbsp;Accounts payable |  |  |  |  |  |  |  | 1461 |  |
| &nbsp;&nbsp;&nbsp;Tenant Deposits | 3990 | 2345 | 2495 | 2445 | 2195 | 2690 | 1850 | 2468 | 1895 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 10834 | (2068) | 5449 | (1890) | (4423) | (5207) | (6162) | (2390) | (1249) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | (3038) | 7288 | 14744 | 6606 | 2026 | (847) | 163 | 5339 | 400 |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units | (300) |  |  |  | 549 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Distributions | (5471) | (8012) | (8036) | (7426) | (6880) | (5101) | (6941) | (2124) | (4802) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (5771) | (8012) | (8036) | (7426) | (6331) | (5101) | (6941) | (2124) | (4802) |
| **Net change in cash** | (8810) | (724) | 6707 | (821) | (4305) | (5948) | (6778) | 3215 | (4401) |
| **Cash at beginning of period** | 18089 | 23293 | 14661 | 16032 | 22147 | 19502 | 14399 | 9225 | 22111 |
| **Cash at end of period** | $9279 | $22569 | $21369 | $15211 | $17842 | $13554 | $7621 | $12440 | $17710 |
| **Cash paid for income taxes** | $- | $152 | $- | $- | $- | $- | $- | $- | $261 |
| **Cash paid for interest expenses** | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Advance from related party for acquisition of property | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Acquisition of property | $283050 | $301130 | $255000 | $275000 | $208000 | $180000 | $265000 | $205000 | $281990 |
| Mortgage payable, net of capitalized loan costs for acquisition of property | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deemed contribution from Manager | $3192 | $- | $- | $- | $- | $- | $- | $- | $- |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Northridge** | **Oakland** | **Palmore** | **Pebblestone** | **Perdita** | **Phoebe** | **Pongo** | **Portsmouth** | **Rachel** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $(8121) | $(11627) | $(2493) | $(1183) | $1716 | $(13104) | $1267 | $2581 | $(7292) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 2946 | 4222 | 3455 | 3868 | 4560 | 3182 | 4560 | 2932 | 3972 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses |  |  | (1190) |  | (110) |  | (110) | (134) |  |
| &nbsp;&nbsp;&nbsp;Deposits | (2543) | (2445) | (1645) | (2795) | (1995) | (2145) | (3143) | (2693) | (3093) |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | (1363) | (1976) | 44 | (2271) | (1925) | (1944) | (2025) | (1295) | (1379) |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 5002 | 12028 | 3009 | 6560 | 5882 | 4975 | 4637 | 2888 | 5378 |
| &nbsp;&nbsp;&nbsp;Accounts payable |  |  | 44 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Tenant Deposits | 2543 | 2445 | 1645 | 2795 | 1995 | 2145 | 3143 | 2693 | 3093 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | 50696 | 1595 | (16296) | (932) | 2282 | 33427 | 3169 | (3536) | 46945 |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 49160 | 4242 | (13426) | 6042 | 12405 | 26536 | 11498 | 3436 | 47623 |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party | (313097) |  |  |  |  | (308086) |  |  | (338607) |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units | 295804 |  |  |  |  | 302613 |  | (300) | 316212 |
| &nbsp;&nbsp;&nbsp;Distributions | (4824) | (1369) | (4712) | (8447) | (7491) | (1242) | (7720) | (6950) | (4988) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (22117) | (1369) | (4712) | (8447) | (7491) | (6715) | (7720) | (7250) | (27383) |
| **Net change in cash** | 27043 | 2873 | (18138) | (2405) | 4915 | 19821 | 3778 | (3815) | 20240 |
| **Cash at beginning of period** | - | 474 | 20957 | 19914 | 20883 | - | 23895 | 15915 | - |
| **Cash at end of period** | $27043 | $3348 | $2819 | $17509 | $25798 | $19821 | $27673 | $12100 | $20240 |
| **Cash paid for income taxes** | $- | $100 | $- | $151 | $- | $100 | $- | $- | $100 |
| **Cash paid for interest expenses** | $- | $7656 | $- | $- | $- | $6011 | $- | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Advance from related party for acquisition of property | $269900 | $- | $- | $- | $- | $276105 | $- | $- | $288620 |
| Acquisition of property | $269900 | $307000 | $200000 | $336420 | $332500 | $276105 | $332500 | $213000 | $288620 |
| Mortgage payable, net of capitalized loan costs for acquisition of property | $- | $291650 | $- | $- | $- | $- | $- | $- | $- |
| Deemed contribution from Manager | $- | $7656 | $- | $- | $- | $5246 | $- | $- | $- |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Ratliff** | **Riverwood** | **Roanoke** | **Ross** | **Sansa** | **Sedgefield** | **Sheezy** | **Sherwood** | **Summerglen** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $(6325) | $1816 | $8358 | $(373) | $2354 | $(11985) | $1148 | $3192 | $3057 |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4394 | 5020 | 4604 | 4582 | 2466 | 2007 | 3215 | 2398 | 3330 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses |  | (98) | (111) |  |  |  | (181) | (64) | (149) |
| &nbsp;&nbsp;&nbsp;Deposits | (2345) | (1995) | (2495) | (2545) | (1395) | (3243) | (2045) | (1395) | (1795) |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | (1804) | (2194) | (2404) | (2424) | (1383) | (3866) | (1015) | (1383) | (749) |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 5204 | 4687 | 1497 | 5068 | 3258 | 9806 | 4252 | 3963 | 3627 |
| &nbsp;&nbsp;&nbsp;Accounts payable |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Tenant Deposits | 2345 | 1995 | 2495 | 2545 | 1395 | 3243 | 2045 | 1395 | 1795 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | (1663) | (728) | 1404 | 58496 | (5619) | 5987 | (882) | (8811) | (3578) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | (193) | 8503 | 13347 | 65348 | 1077 | 1949 | 6538 | (705) | 5538 |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party |  |  |  | (394422) |  | (1949) |  |  |  |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units |  | 864 | 671 | 364451 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Distributions | (6966) | (6882) | (9758) | (9135) | (5229) | - | (7517) | (5213) | (7026) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (6966) | (6018) | (9087) | (39106) | (5229) | (1949) | (7517) | (5213) | (7026) |
| **Net change in cash** | (7159) | 2485 | 4260 | 26242 | (4152) |  | (979) | (5917) | (1488) |
| **Cash at beginning of period** | 24017 | 10050 | 22821 | - | 19502 | - | 18930 | 16955 | 12041 |
| **Cash at end of period** | $16857 | $12535 | $27081 | $26242 | $15349 | $- | $17951 | $11038 | $10554 |
| **Cash paid for income taxes** | $172 | $- | $- | $100 | $- | $- | $687 | $- | $406 |
| **Cash paid for interest expenses** | $- | $- | $- | $- | $- | $7917 | $- | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Advance from related party for acquisition of property | $- | $- | $- | $333070 | $- | $52900 | $- | $- | $- |
| Acquisition of property | $319160 | $288000 | $335000 | $333070 | $180000 | $302900 | $233000 | $175000 | $241870 |
| Mortgage payable, net of capitalized loan costs for acquisition of property | $- | $- | $- | $- | $- | $250000 | $- | $- | $- |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $- |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Tansel** | **Thomas** | **Tytus** | **Vanzant** | **Watson** | **Westhaven** | **Wheeler** | **Williamson** | **Woodland** |
| **Cash flows from operating activities:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $1254 | $2922 | $3620 | $(8415) | $3515 | $1188 | $3246 | $3121 | $1486 |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 4476 | 3015 | 3579 | 4052 | 2419 | 3508 | 2864 | 3940 | 2927 |
| (Increase) decrease in assets |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | (110) | (203) | (89) |  | (110) | (158) | (129) | (174) | (84) |
| &nbsp;&nbsp;&nbsp;Deposits | (2395) | (1795) | (2495) | (2695) | (1395) | (3243) | (1649) | (3543) | (1295) |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | (2176) | (1892) | (1938) | (2095) | (1368) | (1919) | (1603) | 339 | (1354) |
| Increase (decrease) in liabilities |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 5328 | 4538 | 4417 | 6132 | 3841 | 3468 | 3475 | 1472 | 2414 |
| &nbsp;&nbsp;&nbsp;Accounts payable |  |  |  |  |  |  |  | 339 |  |
| &nbsp;&nbsp;&nbsp;Tenant Deposits | 2395 | 1795 | 2495 | 2695 | 1395 | 3243 | 1649 | 3543 | 1295 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | (9316) | (4666) | 821 | 52754 | (1444) | (2601) | (1984) | 1525 | 2586 |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | (544) | 3714 | 10411 | 52427 | 6854 | 3486 | 5870 | 10564 | 7975 |
| **Cash flows from financing activities** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party |  |  |  | (412276) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units |  |  | 699 | 384745 | (300) | (300) |  | 465 |  |
| &nbsp;&nbsp;&nbsp;Distributions | (8425) | (6515) | (7905) | (7069) | (5616) | (7919) | (6685) | (9073) | (5136) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (8425) | (6515) | (7206) | (34601) | (5916) | (8219) | (6685) | (8608) | (5136) |
| **Net change in cash** | (8969) | (2802) | 3205 | 17827 | 939 | (4733) | (815) | 1956 | 2839 |
| **Cash at beginning of period** | 18170 | 16283 | 19860 | - | 15170 | 18441 | 18711 | 22367 | 3099 |
| **Cash at end of period** | $9201 | $13481 | $23066 | $17827 | $16109 | $13708 | $17896 | $24323 | $5938 |
| **Cash paid for income taxes** | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| **Cash paid for interest expenses** | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |  |  |  |  |
| Advance from related party for acquisition of property | $- | $- | $- | $355000 | $- | $- | $- | $- | $- |
| Acquisition of property | $326500 | $219300 | $260000 | $355000 | $176290 | $255000 | $208000 | $285000 | $160000 |
| Mortgage payable, net of capitalized loan costs for acquisition of property | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deemed contribution from Manager | $- | $- | $- | $- | $- | $- | $- | $- | $- |

---

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**CONSOLIDATED AND CONSOLIDATING STATEMENT OF CHANGES IN CASH FLOWS (UNAUDITED)**

**FOR THE SIX MONTHS ENDED JUNE 30, 2024**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Woodwind** | **Wynde** | **Wyndhurst** | **Zane** | **Consolidated** |
| **Cash flows from operating activities:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net income (loss) | $(2618) | $1575 | $(3326) | $2072 | (59492) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation | 3504 | 4024 | 4257 | 2241 | 313879 |
| (Increase) decrease in assets |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | (234) | (86) |  | (60) | (13859) |
| &nbsp;&nbsp;&nbsp;Deposits | (1695) | (2645) | (1995) | (1275) | (181847) |
| &nbsp;&nbsp;&nbsp;Due (from) to third party property managers | (1858) | (1909) | (1851) | (1304) | (116412) |
| Increase (decrease) in liabilities |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 3929 | 3598 | 6025 | 3798 | 380812 |
| &nbsp;&nbsp;&nbsp;Accounts payable |  |  |  |  | 20915 |
| &nbsp;&nbsp;&nbsp;Tenant Deposits | 1695 | 2645 | 1995 | 1275 | 181847 |
| &nbsp;&nbsp;&nbsp;Due to (from) related parties | (5377) | (6432) | 52213 | 735 | (1772) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | (2654) | 770 | 57318 | 7481 | 524070 |
| **Cash flows from financing activities** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repayments of amounts due to related party |  |  | (364165) |  | (2905132) |
| &nbsp;&nbsp;&nbsp;Net proceeds from the issuance of membership units |  |  | 339809 |  | 2985323 |
| &nbsp;&nbsp;&nbsp;Distributions | (6541) | (5160) | (7710) | (5437) | (525555) |
| &nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (6541) | (5160) | (32066) | (5437) | (445364) |
| **Net change in cash** | (9196) | (4391) | 25252 | 2044 | 78707 |
| **Cash at beginning of period** | 14885 | 4736 | - | 18061 | 1223390 |
| **Cash at end of period** | $5690 | $346 | $25252 | $20105 | $1302096 |
| **Cash paid for income taxes** | $- | $- | $50 | $- | $6762 |
| **Cash paid for interest expenses** | $- | $- | $- | $- | $35834 |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |  |  |  |
| Advance from related party for acquisition of property | $- | $- | $311400 | $- | $2790230 |
| Acquisition of property | $255000 | $250000 | $311400 | $163000 | $22869590 |
| Mortgage payable, net of capitalized loan costs for acquisition of property | $- | $- | $- | $- | $847313 |
| Deemed contribution from Manager | $- | $- | $- | $- | $28591 |

---

See the accompanying notes to these consolidated and consolidating financial statements.

**ARRIVED HOMES 3, LLC AND ITS SERIES**

**NOTES TO THE UNAUDITED CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS**

**NOTE 1: NATURE OF OPERATIONS** 

Arrived Homes 3, LLC (the "Company") is a Delaware series limited liability company formed on January 4, 2023 under the laws of Delaware. Arrived Homes 3, LLC was formed to permit public investment in individual single family rental homes, each of which will be held by a separate property-owning subsidiary owned by a separate Series of limited liability interests, or "Series", that Arrived Fund Manager, LLC (the "Manager") established. As a Delaware series limited liability company, the debts, liabilities, obligations, and expenses incurred, contracted for or otherwise existing with respect to a particular Series are segregated and enforceable only against the assets of such Series, as provided under Delaware law.

The following list represents each Arrived Homes 3, LLC's Series and each Series' wholly-owned limited liability company ("LLC"), which was used to acquire the Series' single family rental property, along with the date the Series was formed and the date the Series' LLC acquired the single family rental property as of June 30, 2025.

**SERIES OFFERING TABLE**

<br> ---

| | | | |
|:---|:---|:---|:---|
| **Series Name** | **State LLC Name and wholly owned subsidiary of the Series** | **Date Formed** | **Acquisition Date** |
| Arrived Series Adams, a Series of Arrived Homes 3, LLC (Adams) | Arrived TN Adams, LLC | 10/28/2024 | 11/12/2024 |
| Arrived Series Antares, a Series of Arrived Homes 3, LLC (Antares) | Arrived GA Antares, LLC | 4/24/2023 | 5/5/2023 |
| Arrived Series Aramis, a Series of Arrived Homes 3, LLC (Aramis) | Arrived GA Aramis, LLC | 4/27/2023 | 5/4/2023 |
| Arrived Series Arkoma, a Series of Arrived Homes 3, LLC (Arkoma) | Arrived AR Arkoma, LLC | 4/6/2023 | 4/18/2023 |
| Arrived Series Arya, a Series of Arrived Homes 3, LLC (Arya) | Arrived AR Arya, LLC | 9/27/2023 | 10/18/2023 |
| Arrived Series Aspen, a Series of Arrived Homes 3, LLC (Aspen) | Arrived GA Aspen, LLC | 2/27/2023 | 3/16/2023 |
| Arrived Series Athos, a Series of Arrived Homes 3, LLC (Athos) | Arrived GA Athos, LLC | 4/27/2023 | 5/9/2023 |
| Arrived Series Barclay, a Series of Arrived Homes 3, LLC (Barclay) | Arrived NC Barclay, LLC | 4/17/2023 | 4/26/2023 |
| Arrived Series Bayne, a Series of Arrived Homes 3, LLC (Bayne) | Arrived TN Bayne, LLC | 10/28/2024 | 11/20/2024 |
| Arrived Series Bean, a Series of Arrived Homes 3, LLC (Bean) | Arrived TN Bean, LLC | 2/23/2023 | 9/13/2023 |
| Arrived Series Bennett, a Series of Arrived Homes 3, LLC (Bennett) | Arrived GA Bennett, LLC | 2/27/2023 | 3/16/2023 |
| Arrived Series Benny, a Series of Arrived Homes 3, LLC (Benny) | Arrived OK Benny, LLC | 2/22/2023 | 3/21/2023 |
| Arrived Series Bluebell, a Series of Arrived Homes 3, LLC (Bluebell) | Arrived KY Bluebell, LLC | 4/6/2023 | 5/4/2023 |
| Arrived Series Bowling, a Series of Arrived Homes 3, LLC (Bowling) | Arrived Series Bowling, a series of Arrived Homes 3, LLC | 12/7/2022 | 2/14/2023 |
| Arrived Series Boxwood, a Series of Arrived Homes 3, LLC (Boxwood) | Arrived MS Boxwood, LLC | 10/28/2024 | 11/20/2024 |
| Arrived Series Bradford, a Series of Arrived Homes 3, LLC (Bradford) | Arrived NC Bradford, LLC | 4/6/2023 | 4/25/2023 |
| Arrived Series Brookwood, a Series of Arrived Homes 3, LLC (Brookwood) | Arrived GA Brookwood, LLC | 2/27/2023 | 3/9/2023 |
| Arrived Series Bryant, a Series of Arrived Homes 3, LLC (Bryant) | Arrived GA Bryant, LLC | 3/21/2023 | 4/20/2023 |
| Arrived Series Caden, a Series of Arrived Homes 3, LLC (Caden) | Arrived Series Caden, a series of Arrived Homes 3, LLC | 1/23/2023 | 2/21/2023 |
| Arrived Series Camellia, a Series of Arrived Homes 3, LLC (Camellia) | Arrived Series Camellia, a series of Arrived Homes 3, LLC | 1/23/2023 | 2/14/2023 |
| Arrived Series Caterpillar, a Series of Arrived Homes 3, LLC (Caterpillar) | Arrived FL Caterpillar, LLC | 4/21/2023 | 5/2/2023 |
| Arrived Series Chilhowee, a Series of Arrived Homes 3, LLC (Chilhowee) | Arrived TN Chilhowee, LLC | 12/21/2022 | 12/28/2022 |
| Arrived Series Claremore, a Series of Arrived Homes 3, LLC (Claremore) | Arrived OK Claremore, LLC | 2/17/2023 | 4/27/2023 |
| Arrived Series Collinison, a Series of Arrived Homes 3, LLC (Collinison) | Arrived TN Collinison, LLC | 10/30/2023 | 11/15/2023 |
| Arrived Series Cordero, a Series of Arrived Homes 3, LLC (Cordero) | Arrived NM Cordero, LLC | 1/24/2023 | 4/18/2023 |
| Arrived Series Cristalino, a Series of Arrived Homes 3, LLC (Cristalino) | Arrived NM Cristalino, LLC | 12/21/2022 | 2/13/2023 |
| Arrived Series Ellie, a Series of Arrived Homes 3, LLC (Ellie) | Arrived TN Ellie, LLC | 9/11/2023 | 9/13/2023 |
| Arrived Series Emelina, a Series of Arrived Homes 3, LLC (Emelina) | Arrived Series Emelina, a series of Arrived Homes 3, LLC | 1/10/2023 | 2/8/2023 |
| Arrived Series Ethan, a Series of Arrived Homes 3, LLC (Ethan) | Arrived Series Ethan, a series of Arrived Homes 3, LLC | 3/16/2023 | 4/27/2023 |
| Arrived Series Frances, a Series of Arrived Homes 3, LLC (Frances) | Arrived MS Frances, LLC | 10/18/2023 | 12/6/2023 |
| Arrived Series Glenncrest, a Series of Arrived Homes 3, LLC (Glenncrest) | Arrived Series Glenncrest, a series of Arrived Homes 3, LLC | 11/1/2023 | 11/15/2023 |
| Arrived Series Gordon, a Series of Arrived Homes 3, LLC (Gordon) | Arrived GA Gordon, LLC | 3/21/2023 | 4/11/2023 |
| Arrived Series Haikey, a Series of Arrived Homes 3, LLC (Haikey) | Arrived OK Haikey, LLC | 2/17/2023 | 5/17/2023 |
| Arrived Series Hamblen, a Series of Arrived Homes 3, LLC (Hamblen) | Arrived TN Hamblen, LLC | 3/10/2023 | 3/30/2023 |
| Arrived Series Hancock, a Series of Arrived Homes 3, LLC (Hancock) | Arrived GA Hancock, LLC | 3/28/2023 | 4/27/2023 |
| Arrived Series Hardman, a Series of Arrived Homes 3, LLC (Hardman) | Arrived TN Hardman, LLC | 10/24/2023 | 11/2/2023 |
| Arrived Series Haven, a Series of Arrived Homes 3, LLC (Haven) | Arrived Series Haven, a series of Arrived Homes 3, LLC | 11/30/2022 | 2/21/2023 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Series Name** | **State LLC Name and wholly owned subsidiary of the Series** | **Date Formed** | **Acquisition Date** |
| Arrived Series Haverhill, a Series of Arrived Homes 3, LLC (Haverhill) | Arrived GA Haverhill, LLC | 2/27/2023 | 3/16/2023 |
| Arrived Series Haybridge, a Series of Arrived Homes 3, LLC (Haybridge) | Arrived NC Haybridge, LLC | 9/28/2023 | 10/18/2023 |
| Arrived Series Hedgecrest, a Series of Arrived Homes 3, LLC (Hedgecrest) | Arrived NC Hedgecrest, LLC | 9/28/2023 | 10/18/2023 |
| Arrived Series Helmerich, a Series of Arrived Homes 3, LLC (Helmerich) | Arrived OK Helmerich, LLC | 2/17/2023 | 4/19/2023 |
| Arrived Series Hermanos, a Series of Arrived Homes 3, LLC (Hermanos) | Arrived NM Hermanos, LLC | 12/22/2022 | 1/31/2023 |
| Arrived Series Holmes, a Series of Arrived Homes 3, LLC (Holmes) | Arrived AR Holmes, LLC | 3/7/2023 | 3/29/2023 |
| Arrived Series Johnson, a Series of Arrived Homes 3, LLC (Johnson) | Arrived TN Johnson, LLC | 6/20/2024 | 6/26/2024 |
| Arrived Series Keystone, a Series of Arrived Homes 3, LLC (Keystone) | Arrived TN Keystone, LLC | 10/31/2023 | 12/6/2023 |
| Arrived Series Langley, a Series of Arrived Homes 3, LLC (Langley) | Arrived VA Langley, LLC | 10/23/2024 | 11/6/2024 |
| Arrived Series Laurel, a Series of Arrived Homes 3, LLC (Laurel) | Arrived TN Laurel, LLC | 1/19/2024 | 1/24/2024 |
| Arrived Series Layla, a Series of Arrived Homes 3, LLC (Layla) | Arrived TN Layla, LLC | 10/23/2023 | 11/15/2023 |
| Arrived Series Liberty, a Series of Arrived Homes 3, LLC (Liberty) | Arrived GA Liberty, LLC | 3/10/2023 | 4/25/2023 |
| Arrived Series Lithonia, a Series of Arrived Homes 3, LLC (Lithonia) | Arrived GA Lithonia, LLC | 2/27/2023 | 3/16/2023 |
| Arrived Series Lola, a Series of Arrived Homes 3, LLC (Lola) | Arrived TN Lola, LLC | 10/23/2023 | 11/15/2023 |
| Arrived Series Lucas, a Series of Arrived Homes 3, LLC (Lucas) | Arrived GA Lucas, LLC | 3/21/2023 | 4/20/2023 |
| Arrived Series Macomber, a Series of Arrived Homes 3, LLC (Macomber) | Arrived GA Macomber, LLC | 3/28/2023 | 5/2/2023 |
| Arrived Series Mallard, a Series of Arrived Homes 3, LLC (Mallard) | Arrived Series Mallard, a series of Arrived Homes 3, LLC | 3/16/2023 | 4/28/2023 |
| Arrived Series Marcy, a Series of Arrived Homes 3, LLC (Marcy) | Arrived AR Marcy, LLC | 9/27/2023 | 10/18/2023 |
| Arrived Series Meridian, a Series of Arrived Homes 3, LLC (Meridian) | Arrived Series Meridian, a series of Arrived Homes 3, LLC | 3/28/2023 | 4/21/2023 |
| Arrived Series Metallo, a Series of Arrived Homes 3, LLC (Metallo) | Arrived AR Metallo, LLC | 11/18/2024 | 12/4/2024 |
| Arrived Series Misty, a Series of Arrived Homes 3, LLC (Misty) | Arrived MO Misty, LLC | 10/29/2024 | 11/13/2024 |
| Arrived Series Montgomery, a Series of Arrived Homes 3, LLC (Montgomery) | Arrived Series Montgomery, a series of Arrived Homes 3, LLC | 2/28/2023 | 3/22/2023 |
| Arrived Series Northbrook, a Series of Arrived Homes 3, LLC (Northbrook) | Arrived MS Northbrook, LLC | 10/18/2023 | 11/20/2023 |
| Arrived Series Northridge, a Series of Arrived Homes 3, LLC (Northridge) | Arrived KY Northridge, LLC | 11/21/2023 | 12/13/2023 |
| Arrived Series Oakland, a Series of Arrived Homes 3, LLC (Oakland) | Arrived TN Oakland, LLC | 10/19/2023 | 10/25/2023 |
| Arrived Series Palmore, a Series of Arrived Homes 3, LLC (Palmore) | Arrived Series Palmore, a series of Arrived Homes 3, LLC | 1/26/2023 | 2/23/2023 |
| Arrived Series Pebblestone, a Series of Arrived Homes 3, LLC (Pebblestone) | Arrived TN Pebblestone, LLC | 10/31/2023 | 12/6/2023 |
| Arrived Series Perdita, a Series of Arrived Homes 3, LLC (Perdita) | Arrived NC Perdita, LLC | 4/17/2023 | 4/27/2023 |
| Arrived Series Phoebe, a Series of Arrived Homes 3, LLC (Phoebe) | Arrived TN Phoebe, LLC | 12/13/2023 | 12/27/2023 |
| Arrived Series Pongo, a Series of Arrived Homes 3, LLC (Pongo) | Arrived NC Pongo, LLC | 4/17/2023 | 4/27/2023 |
| Arrived Series Portsmouth, a Series of Arrived Homes 3, LLC (Portsmouth) | Arrived VA Portsmouth, LLC | 3/2/2023 | 3/15/2023 |
| Arrived Series Presidio, a Series of Arrived Homes 3, LLC (Presidio) | Arrived IN Presidio, LLC | 10/28/2024 | 11/13/2024 |
| Arrived Series Rachel, a Series of Arrived Homes 3, LLC (Rachel) | Arrived TN Rachel, LLC | 11/1/2023 | 11/29/2023 |
| Arrived Series Ratliff, a Series of Arrived Homes 3, LLC (Ratliff) | Arrived TN Ratliff, LLC | 10/19/2023 | 10/25/2023 |
| Arrived Series Riverwood, a Series of Arrived Homes 3, LLC (Riverwood) | Arrived GA Riverwood, LLC | 3/21/2023 | 4/26/2023 |
| Arrived Series Roanoke, a Series of Arrived Homes 3, LLC (Roanoke) | Arrived VA Roanoke, LLC | 4/28/2023 | 5/11/2023 |
| Arrived Series Robinson, a Series of Arrived Homes 3, LLC (Robinson) | Arrived MS Robinson, LLC | 9/5/2024 | 10/9/2024 |
| Arrived Series Ross, a Series of Arrived Homes 3, LLC (Ross) | Arrived TN Ross, LLC | 11/1/2023 | 11/29/2023 |
| Arrived Series Sansa, a Series of Arrived Homes 3, LLC (Sansa) | Arrived AR Sansa, LLC | 9/27/2023 | 10/18/2023 |
| Arrived Series Sedgefield, a Series of Arrived Homes 3, LLC (Sedgefield) | Arrived NC Sedgefield, LLC | 1/22/2024 | 1/31/2024 |
| Arrived Series Seneca, a Series of Arrived Homes 3, LLC (Seneca) | Arrived KY Seneca, LLC | 8/23/2024 | 9/4/2024 |
| Arrived Series Sheezy, a Series of Arrived Homes 3, LLC (Sheezy) | Arrived TN Sheezy, LLC | 11/30/2022 | 12/21/2022 |
| Arrived Series Sherwood, a Series of Arrived Homes 3, LLC (Sherwood) | Arrived AR Sherwood, LLC | 3/28/2023 | 4/25/2023 |
| Arrived Series Spangler, a Series of Arrived Homes 3, LLC (Spangler) | Arrived KY Spangler, LLC | 10/30/2024 | 11/20/2024 |
| Arrived Series Summerglen, a Series of Arrived Homes 3, LLC (Summerglen) | Arrived OK Summerglen, LLC | 2/17/2023 | 3/29/2023 |
| Arrived Series Tansel, a Series of Arrived Homes 3, LLC (Tansel) | Arrived GA Tansel, LLC | 4/18/2023 | 4/26/2023 |
| Arrived Series Thomas, a Series of Arrived Homes 3, LLC (Thomas) | Arrived GA Thomas, LLC | 2/27/2023 | 3/16/2023 |
| Arrived Series Tomlinson, a Series of Arrived Homes 3, LLC (Tomlinson) | Arrived KY Tomlinson, LLC | 10/30/2024 | 11/13/2024 |
| Arrived Series Tytus, a Series of Arrived Homes 3, LLC (Tytus) | Arrived OH Tytus, LLC | 4/13/2023 | 4/27/2023 |
| Arrived Series Vanzant, a Series of Arrived Homes 3, LLC (Vanzant) | Arrived AR Vanzant, LLC | 11/29/2023 | 12/6/2023 |
| Arrived Series Watson, a Series of Arrived Homes 3, LLC (Watson) | Arrived AR Watson, LLC | 3/7/2023 | 3/29/2023 |
| Arrived Series Westhaven, a Series of Arrived Homes 3, LLC (Westhaven) | Arrived VA Westhaven, LLC | 3/2/2023 | 3/31/2023 |
| Arrived Series Wheeler, a Series of Arrived Homes 3, LLC (Wheeler) | Arrived Series Wheeler, a series of Arrived Homes 3, LLC | 3/6/2023 | 3/31/2023 |
| Arrived Series Williamson, a Series of Arrived Homes 3, LLC (Williamson) | Arrived VA Williamson, LLC | 3/2/2023 | 5/8/2023 |
| Arrived Series Woodland, a Series of Arrived Homes 3, LLC (Woodland) | Arrived Series Woodland, a series of Arrived Homes 3, LLC | 3/21/2023 | 4/19/2023 |
| Arrived Series Woodwind, a Series of Arrived Homes 3, LLC (Woodwind) | Arrived GA Woodwind, LLC | 2/27/2023 | 3/9/2023 |
| Arrived Series Wynde, a Series of Arrived Homes 3, LLC (Wynde) | Arrived Series Wynde, a series of Arrived Homes 3, LLC | 3/28/2023 | 4/26/2023 |
| Arrived Series Wyndhurst, a Series of Arrived Homes 3, LLC (Wyndhurst) | Arrived Series Wyndhurst, a series of Arrived Homes 3, LLC | 11/17/2023 | 11/29/2023 |
| Arrived Series Zane, a Series of Arrived Homes 3, LLC (Zane) | Arrived Series Zane, a series of Arrived Homes 3, LLC | 4/13/2023 | 5/5/2023 |

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**NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

***Basis of Presentation***

The accounting and reporting policies of the Series conform to accounting principles generally accepted in the United States of America (GAAP). The Series has adopted a calendar year as its fiscal year.

The Company is an emerging growth company as the term is used in The Jumpstart Our Business Startups Act, enacted on April 5, 2012, and has elected to comply with certain reduced public company reporting requirements, however, the Company may adopt accounting standards based on the effective dates for public entities.

The accompanying unaudited condensed financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission for interim financial reporting. In the opinion of management, all adjustments necessary for a fair presentation of the interim financial statements have been included and are of a normal recurring nature.

These interim financial statements do not include all of the information and footnotes required by GAAP for complete annual financial statements and should be read in conjunction with the Company's audited financial statements and related notes as of and for the year ended December 31, 2024, included in the Company's Annual Report on Form 1-K filed with the SEC. The December 31, 2024 balance sheet presented herein has been derived from those audited financial statements.

***Principles of Consolidation***

These consolidated and consolidating financial statements include the accounts of Arrived Homes 3, LLC and its Series listed in Note 1. All inter-company transactions and balances have been eliminated upon consolidation.

***Use of Estimates***

The preparation of the consolidated and consolidating financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the consolidated and consolidating financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates.

***Deferred Offering Costs***

 ****

The Company and each Series complies with the requirements of Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 340-10-S99-1 with regards to offering costs. Prior to the completion of an offering, offering costs are capitalized. The deferred offering costs are charged to members' equity upon the completion of an offering or to expense if the offering is not completed. Offering costs include offering expense reimbursements and sourcing fees as noted below.

Per the operating agreement, the Manager is eligible to receive up to a maximum of 2% of the gross offering proceeds per the Series offering, as reimbursement for offering expenses including legal, accounting, escrow, underwriting, filing and compliance costs, as applicable, related to a specific offering.

Upon completion of an offering, the Series may also be required to pay the Manager sourcing fees as defined in the offering documents. The Manager is responsible for sourcing and analyzing the Series' property.

***Fair Value of Financial Instruments***

FASB guidance specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows:

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 primarily consists of financial instruments whose value is based on quoted market prices such as exchange-traded instruments and listed equities.

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (e.g., quoted prices of similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active).

Level 3 - Unobservable inputs for the asset or liability. Financial instruments are considered Level 3 when their fair values are determined using pricing models, discounted cash flows or similar techniques and at least one significant model assumption or input is unobservable.

The carrying amounts of the Company's consolidated and consolidating financial instruments, such as cash and accrued expenses approximate fair value due to the short-term nature of these instruments. The carrying value of the bridge financing, related party payables approximate their fair values based on interest rates and terms currently available for similar instruments

 ****

***Management Fee***

The Manager will receive from a series an annual asset management fee equal to six tenths of a percent (0.6%) of the purchase price of the series property for that series, paid out of the series' net operating rental income on a quarterly basis. Additionally, pursuant to the operating agreement, the Manager will receive reimbursements for out-of-pocket expenses in connection with the Company's organization and offerings (up to a maximum of 2% of the gross offering proceeds per series offering) and in connection with the Company's operations and the acquisition of properties and in connection with third parties providing services to the Company. The Manager may also receive a portion of the property management fee, which will be equal to the difference between eight percent (8%) and the amount actually charged by the property manager when the series property is occupied, and the property disposition fee as described below. With respect to the operating accounts for each series that the manager maintains with a third-party bank, the manager will be entitled to receive any interest earned on the cash balances in such accounts. The Manager reserves the right to waive any fees or reimbursements it is due in its sole discretion.

 ****

***Property Management Fee***

The company will appoint an affiliate of the manager or a third-party property management company to serve as property manager to manage the property of each series pursuant to a property management agreement. The fee arrangements for each property management company are set forth below:

**Marketplace Homes**

As compensation for the services provided by the property manager, each series will be charged a property management fee of $70 on a monthly basis and paid to the property manager pursuant to the property management agreement.

**Mynd Property Management**

As compensation for the services provided by the property manager, each series will be charged a property management fee equal to six percent (6%) of all rents and fees as remitted to the series or a minimum property management fee of $84 on a monthly basis and paid to the property manager pursuant to the property management agreement.

The property manager for each Series is specified in the latest Offering Circular under "The Series Properties Being Offered."

***Property Disposition Fee***

Upon the disposition and sale of the Series' property, the Manager will charge the Series a market rate property disposition fee that will cover property sale expenses such as brokerage commissions, and title, escrow and closing costs. It is expected that the disposition fee charged to the Series will range from six to seven percent of the property sale price. To the extent that the actual property disposition fees are less than the amount charged to the Series, the Manager will receive the difference.

***Prepaid and Accrued Expenses***

Prepaid expenses consist of prepaid insurance. Accrued expenses includes accrued property taxes, dividends, audit and tax fees, and interest payable on the Series' operational notes, related party.

***Due From (To) Third-party Property Managers***

 ****

Due from (to) third-party property managers are uncollateralized obligations due under normal trade terms generally requiring payment within 30 days from the approved prior month financial statements. Due from (to) property managers are presented net of receipts and expenses for the reported month. The Company uses a loss-rate approach based on historical loss information, adjusted for management's expectations about current and future economic conditions, as the basis to determine expected cash receipts and distributions. Management exercises significant judgment in determining expected credit losses. Key inputs include macroeconomic factors, industry trends, and the creditworthiness of counterparties. Management believes that the composition of receivables at year-end is consistent with historical conditions as credit terms and practices and the property managers have not changed significantly. The Company and Series determined it was not necessary to record an allowance for credit losses as of June 30, 2025 and December 31, 2024.

***Property and Equipment***

 ****

Property and equipment are stated at cost less accumulated depreciation. The Serie's property and equipment includes the cost of the purchased property, including the building and related land. The Company allocates certain capitalized title fees and relevant acquisition expenses to the capitalized costs of the building. All capitalized property costs, except for the value attributable to the land, are depreciated using the straight-line method over the estimated useful life of 27.5 years. Additions and property improvements in excess of $5,000 are capitalized and depreciated using the straight-line method over the estimated useful lives of 5-7 years, while routine repairs and maintenance are charged to expense as incurred. At the time of retirement or other disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the statement of comprehensive income.

***Impairment of Long-Lived Assets***

 ****

The Company and Series continually monitor events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Series assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Series recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. The Company and Series did not record any impairment losses on long-lived assets for the six-month period ended June 30, 2025.

 **

***Tenant Deposits***

 **

Tenant deposit liabilities represent security deposits received by tenant customers. This encompasses deposits administered by property management entities and liabilities associated with tenant deposits.

 **

***Operating Expenses***

 **

The Series is responsible for the costs and expenses attributable to the activities of the Series. The Manager will bear its own expenses of an ordinary nature. If the operating expenses exceed the amount of revenues generated from a Series property and cannot be covered by any operating expense reserves on the balance sheet of the Series, the Manager may (a) pay such operating expenses and not seek reimbursement, in which case the expenses would be recognized by the Series with a credit to contributed capital, (b) loan the amount of the operating expenses to the Series, on which the Manager and its affiliates may impose a reasonable rate of interest and be entitled to reimbursement of such amount from future revenues generated by Series' property, and/or (c) cause additional interests to be issued in the Series in order to cover such additional amounts.

***Revenue Recognition***

The Company and Series adopted ASU 2014-09*, Revenue from Contracts with Customers*, and its related amendments (collectively known as "ASC 606"), effective at inception using the modified retrospective transition approach applied to all contracts. There were no cumulative impacts that were made. The Company and Series determines revenue recognition through the following steps:

● Identification of a contract with a customer;

● Identification of the performance obligations in the contract;

● Determination of the transaction price;

● Allocation of the transaction price to the performance obligations in the contract; and

● Recognition of revenue when or as the performance obligations are satisfied.

Revenue is recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Series expects to be entitled to in exchange for those goods or services. As a practical expedient, the Series does not adjust the transaction price for the effects of a significant financing component if, at contract inception, the period between customer payment and the transfer of goods or services is expected to be one year or less.

The Company's Series operate rental properties and recognizes rental revenue on a monthly basis as it is earned. Revenue from leasing arrangements falls outside the scope of FASB ASC 606 and is accounted for under the provisions of FASB ASC 842.

 ****

***Comprehensive Income (Loss)***

The Company and Series follows FASB ASC 220 in reporting comprehensive income. Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income. Since the Company has no items of other comprehensive income (loss), comprehensive income (loss) is equal to net income (loss).

***Organizational Costs***

In accordance with FASB ASC 720, *Organizational Costs*, including accounting fees, legal fees, and costs of incorporation, are expensed as incurred.

***Income Taxes***

The Company is organized as an LLC for legal purposes and has elected to be treated as a C corporation for tax purposes, pursuant to subchapter C of the Internal Revenue Code.

Furthermore, each Series complies with the requirements to be a Real Estate Investment Trust ("REIT"), a special type of C corporation that files tax form 1120-REIT. A REIT may not be required to pay income tax at the corporate level because this form of corporation is permitted to deduct dividends paid to members as an expense. Therefore, if a REIT paid out all profit and capital gains to its members it could potentially report no taxable income. Tax losses of REITs are not allocated directly to members but, under current law, losses may be accumulated and carried forward indefinitely and be used to offset up to 80% of taxable income in any future year, thereby reducing the reported taxable income of the REIT.

Most states give REIT's a deduction for dividends paid. Since the Series generally pay dividends in excess of the taxable income generated, there would be no state tax liability in these states. In states that do not give a deduction for dividends paid, there may be a state income tax due that is assessed based on the tax table for that particular state. There is no state tax liability for members based on the locations of properties held in the REIT's. The rules for state tax loss carryforwards vary by state as some conform to the Federal rules while others have restrictions on timeframes and/or the percentage of loss that can be carried forward.

***Recently issued and not yet adopted and adopted accounting pronouncements***

In February 2016, FASB issued ASU 2016-02, Leases (Topic 842). This ASU requires a lessee to recognize a right-of-use asset and a lease liability under most operating leases in its balance sheet. The ASU is effective for annual and interim periods beginning after December 15, 2021. Early adoption is permitted. The Company adopted this standard upon inception and it did not have a material impact on their consolidated and consolidating financial statements.

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, as modified by FASB ASU No. 2019-10 and other subsequently issued related ASUs. The amendments in this Update affect loans, debt securities, trade receivables, and any other financial assets that have the contractual right to receive cash. The ASU requires an entity to recognize expected credit losses rather than incurred losses for financial assets. The amendments in this Update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company adopted this new guidance upon inception utilizing the modified retrospective transition method. The adoption of this standard did not have a material impact on the Company's consolidated and consolidating financial statements, but did change how the allowance for credit losses is determined.

Management does not believe that any other recently issued, but not yet effective, accounting standards could have a material effect on the accompanying consolidated and consolidating financial statements. As new accounting pronouncements are issued, the Company will adopt those that are applicable under the circumstances.

**NOTE 3: GOING CONCERN**

The accompanying consolidated and consolidating financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has a lack of liquidity, nominal cash, and has limited operations since inception. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time. The Company's ability to continue as a going concern in the next twelve months from the filing of this Semi-Annual Report is dependent upon their ability to continue to generate cash flow from their rental properties and/or obtain financing from the Manager. However, there are assurances that the Company can continue to generate cash flow from their rental properties or that the Manager will always be in the position to provide funding when needed. The consolidated and consolidating financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

**NOTE 4: PROPERTY AND EQUIPMENT**

Property and equipment, net consists of the following:

**June 30, 2025**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Series** | **Building** | **Land** | **Property<br> Improvements** | **Total** | **Less:<br> Accumulated<br> Depreciation** | **Property and<br> equipment, net** |
| Adams | $230829 | $76000 | $- | $306829 | $(4197) | $302632 |
| Antares | 234124 | 78041 |  | 312165 | (17027) | 295138 |
| Aramis | 226769 | 75590 |  | 302358 | (16492) | 285866 |
| Arkoma | 178459 | 59486 |  | 237946 | (13520) | 224426 |
| Arya | 135657 | 45219 |  | 180876 | (7811) | 173065 |
| Aspen | 202343 | 67448 |  | 269791 | (15942) | 253848 |
| Athos | 219648 | 73216 | 5840 | 298704 | (17921) | 280783 |
| Barclay | 231439 | 77146 |  | 308585 | (17533) | 291051 |
| Bayne | 264381 | 86906 |  | 351287 | (4807) | 346480 |
| Bean | 221579 | 73860 |  | 295438 | (13429) | 282009 |
| Bennett | 160052 | 53351 |  | 213402 | (12610) | 200792 |
| Benny | 192665 | 64222 |  | 256887 | (15180) | 241707 |
| Bluebell | 225920 | 75307 |  | 301226 | (16430) | 284796 |
| Bowling | 157406 | 52469 |  | 209875 | (12879) | 196996 |
| Boxwood | 243102 | 81248 |  | 324350 | (4420) | 319930 |
| Bradford | 229997 | 76666 |  | 306663 | (17418) | 289244 |
| Brookwood | 211955 | 70652 |  | 282607 | (16700) | 265908 |
| Bryant | 211467 | 70489 | 5470 | 287426 | (18208) | 269218 |
| Caden | 189056 | 63019 |  | 252075 | (15468) | 236607 |
| Camellia | 192475 | 64158 | 13114 | 269747 | (20848) | 248899 |
| Caterpillar | 226811 | 75604 |  | 302414 | (16495) | 285919 |
| Chilhowee | 245882 | 80960 |  | 326842 | (21608) | 305234 |
| Claremore | 177773 | 59258 |  | 237030 | (13468) | 223563 |
| Collinison | 228338 | 75250 | 5140 | 308728 | (12969) | 295759 |
| Cordero | 190960 | 63653 | 21346 | 275959 | (16149) | 259810 |
| Cristalino | 232382 | 77461 |  | 309843 | (19013) | 290830 |
| Ellie | 217159 | 72386 |  | 289546 | (13161) | 276385 |
| Emelina | 188311 | 62770 | 6975 | 258056 | (18430) | 239626 |
| Ethan | 146204 | 48735 | 14886 | 209824 | (15042) | 194782 |
| Frances | 211050 | 69498 |  | 280547 | (10872) | 269675 |
| Glenncrest | 219509 | 72500 |  | 292009 | (11973) | 280036 |
| Gordon | 193167 | 64389 |  | 257556 | (14634) | 242922 |
| Haikey | 185216 | 61739 |  | 246955 | (13470) | 233485 |
| Hamblen | 193966 | 64655 |  | 258621 | (15282) | 243339 |
| Hancock | 204015 | 68005 | 5175 | 277195 | (17526) | 259669 |
| Hardman | 292918 | 97639 |  | 390558 | (15977) | 374580 |
| Haven | 140196 | 46732 |  | 186928 | (11471) | 175457 |
| Haverhill | 177351 | 59117 |  | 236468 | (13973) | 222495 |
| Haybridge | 271195 | 90398 |  | 361593 | (15614) | 345979 |
| Hedgecrest | 271195 | 90398 | 6073 | 367666 | (16019) | 351647 |
| Helmerich | 190433 | 63478 |  | 253910 | (14427) | 239483 |
| Hermanos | 232856 | 77619 | 16803 | 327278 | (26864) | 300414 |
| Holmes | 133058 | 44353 |  | 177411 | (10483) | 166927 |
| Johnson | 248064 | 81518 |  | 329582 | (8269) | 321313 |
| Keystone | 263140 | 86695 |  | 349835 | (13556) | 336279 |
| Langley | 250762 | 83750 |  | 334512 | (4559) | 329953 |
| Laurel | 254681 | 83811 |  | 338492 | (12348) | 326144 |
| Layla | 244911 | 81637 |  | 326548 | (13359) | 313189 |
| Liberty | 189606 | 63202 | 20979 | 273787 | (20126) | 253661 |
| Lithonia | 213879 | 71293 | 10745 | 295917 | (19537) | 276380 |
| Lola | 227929 | 75976 |  | 303905 | (12432) | 291473 |
| Lucas | 192650 | 64217 | 5675 | 262542 | (16297) | 246245 |
| Macomber | 207833 | 69278 | 5068 | 282178 | (17058) | 265120 |
| Mallard | 157399 | 52466 |  | 209866 | (11924) | 197941 |
| Marcy | 135657 | 45219 |  | 180876 | (7811) | 173065 |
| Meridian | 199873 | 66624 | 8575 | 275072 | (17428) | 257644 |
| Metallo | 220432 | 74750 |  | 295182 | (3340) | 291842 |
| Misty | 259742 | 86250 |  | 345992 | (4723) | 341269 |
| Montgomery | 154790 | 51597 | 13590 | 219977 | (15367) | 204611 |
| Northbrook | 212953 | 70984 |  | 283937 | (11616) | 272321 |
| Northridge | 194437 | 67475 |  | 261912 | (10016) | 251896 |
| Oakland | 232207 | 77402 |  | 309609 | (13370) | 296240 |
| Palmore | 151605 | 50535 | 6990 | 209131 | (14734) | 194397 |
| Pebblestone | 255302 | 84106 |  | 339409 | (13152) | 326257 |
| Perdita | 250821 | 83607 |  | 334428 | (19002) | 315427 |
| Phoebe | 210002 | 69026 |  | 279028 | (10818) | 268210 |
| Pongo | 250821 | 83607 |  | 334428 | (19002) | 315427 |
| Portsmouth | 161270 | 53757 | 5989 | 221015 | (13105) | 207909 |
| Presidio | 180825 | 60500 |  | 241325 | (3288) | 238037 |
| Rachel | 218441 | 72814 |  | 291255 | (11915) | 279340 |
| Ratliff | 241684 | 80561 |  | 322245 | (13915) | 308330 |
| Riverwood | 217223 | 72408 | 10721 | 300352 | (20382) | 279970 |
| Roanoke | 253193 | 84398 |  | 337591 | (18414) | 319177 |
| Robinson | 242512 | 80998 |  | 323510 | (5144) | 318365 |
| Ross | 252016 | 84005 |  | 336021 | (13746) | 322274 |
| Sansa | 135657 | 45219 |  | 180876 | (7811) | 173065 |
| Sedgefield | 220746 | 75725 |  | 296471 | (10034) | 286437 |
| Seneca | 223146 | 73725 |  | 296871 | (5410) | 291461 |
| Sheezy | 176837 | 58250 |  | 235087 | (15540) | 219547 |
| Sherwood | 131898 | 43966 |  | 175864 | (9992) | 165872 |
| Spangler | 288280 | 95500 | 6308 | 390088 | (5872) | 384216 |
| Summerglen | 183172 | 61057 |  | 244229 | (14432) | 229797 |
| Tansel | 246162 | 82054 |  | 328216 | (18649) | 309567 |
| Thomas | 165820 | 55273 |  | 221093 | (13064) | 208028 |
| Tomlinson | 183250 | 61250 |  | 244500 | (3332) | 241168 |
| Tytus | 196851 | 65617 |  | 262468 | (14913) | 247555 |
| Vanzant | 267416 | 88750 |  | 356166 | (13776) | 342390 |
| Watson | 133058 | 44353 |  | 177411 | (10483) | 166927 |
| Westhaven | 192956 | 64319 |  | 257274 | (15202) | 242072 |
| Wheeler | 157535 | 52512 |  | 210047 | (12412) | 197635 |
| Williamson | 216704 | 72235 |  | 288939 | (15760) | 273179 |
| Woodland | 121075 | 40358 | 7252 | 168685 | (12073) | 156612 |
| Woodwind | 192730 | 64243 |  | 256974 | (15185) | 241789 |
| Wynde | 188783 | 62928 | 5914 | 257624 | (16372) | 241252 |
| Wyndhurst | 234133 | 78044 |  | 312177 | (12771) | 299406 |
| Zane | 123239 | 41080 | - | 164319 | (8963) | 155356 |
|  | $**19855368** | $**6612008** | $**208628** | $**26676003** | $**(1295558)** | $**25380445** |

---

**December 31, 2024**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Series** | **Building** | **Land** | **Property<br> Improvements** | **Total** | **Less:<br> Accumulated<br> Depreciation** | **Property and<br> equipment, net** |
| Adams | $230829 | $76000 | $- | $306829 | $- | $306829 |
| Antares | 234124 | 78041 |  | 312165 | (12770) | 299395 |
| Aramis | 226769 | 75590 |  | 302358 | (12369) | 289989 |
| Arkoma | 178459 | 59486 |  | 237946 | (10275) | 227671 |
| Arya | 135657 | 45219 |  | 180876 | (5344) | 175531 |
| Aspen | 202343 | 67448 |  | 269791 | (12263) | 257527 |
| Athos | 219648 | 73216 | 5840 | 298704 | (13343) | 285361 |
| Barclay | 231439 | 77146 |  | 308585 | (13325) | 295259 |
| Bayne | 264381 | 86906 |  | 351287 |  | 351287 |
| Bean | 221579 | 73860 |  | 295438 | (9400) | 286038 |
| Bennett | 160052 | 53351 |  | 213402 | (9700) | 203702 |
| Benny | 192665 | 64222 |  | 256887 | (11677) | 245210 |
| Bluebell | 225920 | 75307 |  | 301226 | (12323) | 288903 |
| Bowling | 157406 | 52469 |  | 209875 | (10017) | 199858 |
| Boxwood | 243102 | 81248 |  | 324350 |  | 324350 |
| Bradford | 229997 | 76666 |  | 306663 | (13238) | 293425 |
| Brookwood | 211955 | 70652 |  | 282607 | (12846) | 269761 |
| Bryant | 211467 | 70489 | 5470 | 287426 | (13816) | 273609 |
| Caden | 189056 | 63019 |  | 252075 | (12031) | 240044 |
| Camellia | 192475 | 64158 | 13114 | 269747 | (16037) | 253710 |
| Caterpillar | 226811 | 75604 |  | 302414 | (12371) | 290043 |
| Chilhowee | 245882 | 80960 |  | 326842 | (17137) | 309705 |
| Claremore | 177773 | 59258 |  | 237030 | (10235) | 226795 |
| Collinison | 228338 | 75250 |  | 303588 | (8303) | 295285 |
| Cordero | 190960 | 63653 | 21346 | 275959 | (12288) | 263670 |
| Cristalino | 232382 | 77461 |  | 309843 | (14788) | 295055 |
| Ellie | 217159 | 72386 |  | 289546 | (9213) | 280333 |
| Emelina | 188311 | 62770 | 6975 | 258056 | (14308) | 243748 |
| Ethan | 146204 | 48735 | 14886 | 209824 | (10895) | 198929 |
| Frances | 211050 | 69498 |  | 280547 | (7035) | 273512 |
| Glenncrest | 219509 | 72500 |  | 292009 | (7982) | 284027 |
| Gordon | 193167 | 64389 |  | 257556 | (11122) | 246434 |
| Haikey | 185216 | 61739 |  | 246955 | (10103) | 236852 |
| Hamblen | 193966 | 64655 |  | 258621 | (11755) | 246865 |
| Hancock | 204015 | 68005 | 5175 | 277195 | (13299) | 263896 |
| Hardman | 292918 | 97639 |  | 390558 | (10652) | 379906 |
| Haven | 140196 | 46732 |  | 186928 | (8922) | 178006 |
| Haverhill | 177351 | 59117 |  | 236468 | (10749) | 225720 |
| Haybridge | 271195 | 90398 |  | 361593 | (10683) | 350910 |
| Hedgecrest | 271195 | 90398 |  | 361593 | (10683) | 350910 |
| Helmerich | 190433 | 63478 |  | 253910 | (10964) | 242946 |
| Hermanos | 232856 | 77619 | 16803 | 327278 | (20950) | 306328 |
| Holmes | 133058 | 44353 |  | 177411 | (8064) | 169346 |
| Johnson | 248064 | 81518 |  | 329582 | (3759) | 325823 |
| Keystone | 263140 | 86695 |  | 349835 | (8771) | 341063 |
| Langley | 250762 | 83750 |  | 334512 |  | 334512 |
| Laurel | 254681 | 83811 |  | 338492 | (7718) | 330775 |
| Layla | 244911 | 81637 |  | 326548 | (8906) | 317642 |
| Liberty | 189606 | 63202 | 20979 | 273787 | (14581) | 259206 |
| Lithonia | 213879 | 71293 | 10745 | 295917 | (14574) | 281343 |
| Lola | 227929 | 75976 |  | 303905 | (8288) | 295617 |
| Lucas | 192650 | 64217 | 5675 | 262542 | (12227) | 250315 |
| Macomber | 207833 | 69278 | 5068 | 282178 | (12772) | 269405 |
| Mallard | 157399 | 52466 |  | 209866 | (9062) | 200803 |
| Marcy | 135657 | 45219 |  | 180876 | (5344) | 175531 |
| Meridian | 199873 | 66624 | 8575 | 275072 | (12937) | 262135 |
| Metallo | 220432 | 74750 |  | 295182 |  | 295182 |
| Misty | 259742 | 86250 |  | 345992 |  | 345992 |
| Montgomery | 154790 | 51597 | 13590 | 219977 | (11193) | 208784 |
| Northbrook | 212953 | 70984 |  | 283937 | (7744) | 276193 |
| Northridge | 194437 | 67475 |  | 261912 | (6481) | 255431 |
| Oakland | 232207 | 77402 |  | 309609 | (9148) | 300462 |
| Palmore | 151605 | 50535 | 6990 | 209131 | (11279) | 197852 |
| Pebblestone | 255302 | 84106 |  | 339409 | (8510) | 330898 |
| Perdita | 250821 | 83607 |  | 334428 | (14441) | 319987 |
| Phoebe | 210002 | 69026 |  | 279028 | (7000) | 272028 |
| Pongo | 250821 | 83607 |  | 334428 | (14441) | 319987 |
| Portsmouth | 161270 | 53757 |  | 215026 | (9774) | 205252 |
| Presidio | 180825 | 60500 |  | 241325 |  | 241325 |
| Rachel | 218441 | 72814 |  | 291255 | (7943) | 283311 |
| Ratliff | 241684 | 80561 |  | 322245 | (9521) | 312724 |
| Riverwood | 217223 | 72408 | 10721 | 300352 | (15361) | 284990 |
| Roanoke | 253193 | 84398 |  | 337591 | (13811) | 323781 |
| Robinson | 242512 | 80998 |  | 323510 | (735) | 322775 |
| Ross | 252016 | 84005 |  | 336021 | (9164) | 326857 |
| Sansa | 135657 | 45219 |  | 180876 | (5344) | 175531 |
| Sedgefield | 220746 | 75725 |  | 296471 | (6020) | 290451 |
| Seneca | 223146 | 73725 |  | 296871 | (1352) | 295518 |
| Sheezy | 176837 | 58250 |  | 235087 | (12325) | 222762 |
| Sherwood | 131898 | 43966 |  | 175864 | (7594) | 168270 |
| Spangler | 288280 | 95500 | 6308 | 390088 |  | 390088 |
| Summerglen | 183172 | 61057 |  | 244229 | (11101) | 233128 |
| Tansel | 246162 | 82054 |  | 328216 | (14173) | 314043 |
| Thomas | 165820 | 55273 |  | 221093 | (10050) | 211043 |
| Tomlinson | 183250 | 61250 |  | 244500 |  | 244500 |
| Tytus | 196851 | 65617 |  | 262468 | (11334) | 251134 |
| Vanzant | 267416 | 88750 |  | 356166 | (8914) | 347252 |
| Watson | 133058 | 44353 |  | 177411 | (8064) | 169346 |
| Westhaven | 192956 | 64319 |  | 257274 | (11694) | 245580 |
| Wheeler | 157535 | 52512 |  | 210047 | (9548) | 200499 |
| Williamson | 216704 | 72235 |  | 288939 | (11820) | 277119 |
| Woodland | 121075 | 40358 | 7252 | 168685 | (9147) | 159538 |
| Woodwind | 192730 | 64243 |  | 256974 | (11681) | 245293 |
| Wynde | 188783 | 62928 | 5914 | 257624 | (12348) | 245276 |
| Wyndhurst | 234133 | 78044 |  | 312177 | (8514) | 303663 |
| Zane | 123239 | 41080 | - | 164319 | (6722) | 157597 |
|  | $**19855368** | $**6612008** | $**191426** | $**26658802** | $**(916508)** | $**25742294** |

---

Depreciation expense was $379,050 and $313,879, respectively, for the six months ended June 30, 2025 and 2024.

**NOTE 5: BRIDGE FINANCING, RELATED PARTY**

For the six months ended June 30, 2025, several Series repaid bridge financing from a related party, Arrived Short Term Notes, LLC, in an aggregate amount of $2,349,683. The repayments were funded through proceeds raised from the issuance of membership units. The principal and all accrued interest were repaid in full.

Interest expense related to this financing for the six months ended June 30, 2025 and 2024 was $17,421 and $35,834, respectively.

**NOTE 6: OPERATIONAL NOTES, RELATED PARTY**

For the six months ended June 30, 2025, several Series obtained operational notes from a related party, Arrived Short Term Notes, LLC, in an aggregate amount of $103,500. These notes have a term of 18 months and bear interest at a rate of 6.5% to 7.5% per annum. The operational notes do not have any prepayment penalties. The proceeds were used for property improvements and other operating needs. Interest expense associated with these notes for the six months ended June 30, 2025 and 2024 was $3,712 and $0, respectively.

**NOTE 7: MEMBERS' EQUITY**

Each Series is managed by Arrived Fund Manager, LLC, a Delaware limited liability company and managing member of the Company. Pursuant to the terms of the operating agreement, the Manager will provide certain management and advisory services, as well as management team and appropriate support personnel to the Company.

The Manager will be responsible for directing the management of Series' business and affairs, managing the day-to-day affairs, and implementing the Series' investment strategy.

The Manager has a unilateral ability to amend the operating agreement and the allocation policy in certain circumstances without the consent of the investors. The investors only have limited voting rights with respect to the Series. The Manager has sole discretion in determining what distributions, if any, are made to interest holders except as otherwise limited by law or the operating agreement. The Series expects the Manager to make distributions on a monthly basis. However, the Manager may change the timing of distributions or determine that no distributions shall be made, in its sole discretion.

*Membership Interests*

 

As of June 30, 2025 and 2024, the Series closed on its public offerings for net proceeds of $2,711,403 and $2,985,323, respectively. The following is a summary of the public offerings by each Series.

**June 30, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Series** | **# of Units Issued** | **Net proceeds<br> from the<br> issuance of<br> membership<br> units** | **Brokerage fee<br> (1%)** | **Offering expense<br> (2%)** |
| Adams | 36087 | $334077 | $3609 | $7224 |
| Antares |  |  |  |  |
| Aramis |  |  |  |  |
| Arkoma |  |  |  |  |
| Arya |  |  |  |  |
| Aspen |  |  |  |  |
| Athos |  |  |  |  |
| Barclay |  |  |  |  |
| Bayne | 41105 | 380478 | 4111 | 8222 |
| Bean |  |  |  |  |
| Bennett |  |  |  |  |
| Benny |  |  |  |  |
| Bluebell |  |  |  |  |
| Bowling |  |  |  |  |
| Boxwood | 38181 | 353436 | 3818 | 7636 |
| Bradford |  |  |  |  |
| Brookwood |  |  |  |  |
| Bryant |  |  |  |  |
| Caden |  |  |  |  |
| Camellia |  |  |  |  |
| Caterpillar |  |  |  |  |
| Chilhowee |  |  |  |  |
| Claremore |  |  |  |  |
| Collinison |  |  |  |  |
| Cordero |  |  |  |  |
| Cristalino |  |  |  |  |
| Ellie |  |  |  |  |
| Emelina |  |  |  |  |
| Ethan |  |  |  |  |
| Frances |  |  |  |  |
| Glenncrest |  |  |  |  |
| Gordon |  |  |  |  |
| Haikey |  |  |  |  |
| Hamblen |  |  |  |  |
| Hancock |  |  |  |  |
| Hardman |  |  |  |  |
| Haven |  |  |  |  |
| Haverhill |  |  |  |  |
| Haybridge |  |  |  |  |
| Hedgecrest |  |  |  |  |
| Helmerich |  |  |  |  |
| Hermanos |  |  |  |  |
| Holmes |  |  |  |  |
| Johnson |  |  |  |  |
| Keystone |  |  |  |  |
| Langley | 39184 | 362757 | 3918 | 7845 |
| Laurel |  |  |  |  |
| Layla |  |  |  |  |
| Liberty |  |  |  |  |
| Lithonia |  |  |  |  |
| Lola |  |  |  |  |
| Lucas |  |  |  |  |
| Macomber |  |  |  |  |
| Mallard |  |  |  |  |
| Marcy |  |  |  |  |
| Meridian |  |  |  |  |
| Metallo | 34888 | 322979 | 3489 | 6982 |
| Misty | 50 | 495 | 5 |  |
| Montgomery |  |  |  |  |
| Northbrook |  |  |  |  |
| Northridge |  |  |  |  |
| Oakland |  |  |  |  |
| Palmore |  |  |  |  |
| Pebblestone |  |  |  |  |
| Perdita |  |  |  |  |
| Phoebe |  |  |  |  |
| Pongo |  |  |  |  |
| Portsmouth |  |  |  |  |
| Presidio | 28661 | 265302 | 2867 | 5741 |
| Rachel |  |  |  |  |
| Ratliff |  |  |  |  |
| Riverwood |  |  |  |  |
| Roanoke |  |  |  |  |
| Robinson |  |  |  |  |
| Ross |  |  |  |  |
| Sansa |  |  |  |  |
| Sedgefield |  |  |  |  |
| Seneca |  |  |  |  |
| Sheezy |  |  |  |  |
| Sherwood |  |  |  |  |
| Spangler | 45431 | 420629 | 4543 | 9088 |
| Summerglen |  |  |  |  |
| Tansel |  |  |  |  |
| Thomas |  |  |  |  |
| Tomlinson | 29289 | 271251 | 2929 | 5860 |
| Tytus |  |  |  |  |
| Vanzant |  |  |  |  |
| Watson |  |  |  |  |
| Westhaven |  |  |  |  |
| Wheeler |  |  |  |  |
| Williamson |  |  |  |  |
| Woodland |  |  |  |  |
| Woodwind |  |  |  |  |
| Wynde |  |  |  |  |
| Wyndhurst |  |  |  |  |
| Zane | - | - | - | - |
|  | **292876** | $**2711403** | $**29289** | $**58598** |

---

**June 30, 2024**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Series** | **# of Units<br> Issued** | **Net proceeds<br> from <br> the issuance<br> of membership<br> units** | **Brokerage fee<br> (1%)** | **Offering expense<br> (2%)** |
| Antares |  | $- | $- | $- |
| Aramis | 65 | 650 |  | (10) |
| Arkoma |  |  |  |  |
| Arya |  |  |  |  |
| Aspen | (10) | (100) |  |  |
| Athos | 76 | 762 |  | (12) |
| Barclay | 29 | 289 |  | 11 |
| Bean |  |  |  |  |
| Bennett |  |  |  |  |
| Benny | (30) | (300) |  |  |
| Bluebell |  |  |  |  |
| Bowling |  |  |  |  |
| Bradford |  |  |  |  |
| Brookwood | (30) | (300) |  |  |
| Bryant | (30) | (300) |  |  |
| Caden |  |  |  |  |
| Camellia |  |  |  |  |
| Caterpillar |  |  |  |  |
| Chilhowee |  |  |  |  |
| Claremore | (30) | (300) |  |  |
| Collinison |  |  |  |  |
| Cordero |  |  |  |  |
| Cristalino | (10) | (100) |  |  |
| Ellie |  |  |  |  |
| Emelina |  |  |  |  |
| Ethan |  |  |  |  |
| Frances | 30429 | 304290 | 3277 | 6583 |
| Glenncrest | 31079 | 310787 | 3361 | 6722 |
| Gordon |  |  |  |  |
| Haikey |  |  |  |  |
| Hamblen | (30) | (300) |  |  |
| Hancock | (80) | (800) |  |  |
| Hardman |  |  |  |  |
| Haven |  |  |  |  |
| Haverhill |  |  |  |  |
| Haybridge |  |  |  |  |
| Hedgecrest |  |  |  |  |
| Helmerich |  |  |  |  |
| Hermanos |  |  |  |  |
| Holmes |  |  |  |  |
| Johnson |  |  |  |  |
| Keystone |  |  |  |  |
| Laurel | 36471 | 364707 | 3941 | 7882 |
| Layla |  |  |  |  |
| Liberty | 66 | 658 |  | (8) |
| Lithonia | (30) | (300) |  |  |
| Lola |  |  |  |  |
| Lucas |  |  |  |  |
| Macomber |  |  |  |  |
| Mallard | 55 | 549 |  | 1 |
| Marcy |  |  |  |  |
| Meridian |  |  |  |  |
| Montgomery |  |  |  |  |
| Northbrook |  |  |  |  |
| Northridge | 29580 | 295804 | 3196 | 6391 |
| Oakland |  |  |  |  |
| Palmore |  |  |  |  |
| Pebblestone |  |  |  |  |
| Perdita |  |  |  |  |
| Phoebe | 30261 | 302613 | 3269 | 6538 |
| Pongo |  |  |  |  |
| Portsmouth | (30) | (300) |  |  |
| Rachel | 31621 | 316212 | 3416 | 6842 |
| Ratliff |  |  |  |  |
| Riverwood | 86 | 864 |  | (14) |
| Roanoke | 67 | 671 |  | (11) |
| Ross | 36445 | 364451 | 3937 | 7882 |
| Sansa |  |  |  |  |
| Sedgefield |  |  |  |  |
| Sheezy |  |  |  |  |
| Sherwood |  |  |  |  |
| Summerglen |  |  |  |  |
| Tansel |  |  |  |  |
| Thomas |  |  |  |  |
| Tytus | 70 | 699 |  | (9) |
| Vanzant | 38474 | 384745 | 4159 | 8317 |
| Watson | (30) | (300) |  |  |
| Westhaven | (30) | (300) |  |  |
| Wheeler |  |  |  |  |
| Williamson | 47 | 465 |  | (5) |
| Woodland |  |  |  |  |
| Woodwind |  |  |  |  |
| Wynde |  |  |  |  |
| Wyndhurst | 33981 | 339809 | 3672 | 7349 |
| Zane | - | - | - | - |
|  | **298532** | $**2985323** | $**32227** | $**64449** |

---

During the six months ended June 30, 2025 and 2024, the Series had redemptions of membership interests of $0 and $3,700, respectively.

In connection with the public offering, each Series incurred brokerage fees of 1% of gross proceeds, which is paid directly to the broker as a deduction from gross proceeds. Additionally, pursuant to the operating agreement, the manager will receive reimbursements for out-of-pocket expenses in connection with the offering of up to a maximum of 2% of the gross proceeds from the issuance of membership interests, which amounted to the net cumulative amount of $624,097 and $520,385, respectively, during the six months ended June 30, 2025 and 2024.

*Distributions*

 

During the six months ended June 30, 2025 and 2024, 96 and 83 Series, respectively, recorded distributions to the investors of the respective Series totaling $569,798 and $525,555, respectively, which were recorded as a reduction to members' capital.

The following table reflects total distributions by Series during the six months ended June 30, 2025 and 2024.

---

| | | |
|:---|:---|:---|
| **Series** | **June 30,<br> 2025** | **June 30,<br> 2024** |
| Adams | $6568 | $- |
| Antares | 7064 | 7137 |
| Aramis | 5924 | 6806 |
| Arkoma | 5839 | 6519 |
| Arya | 4091 | 5080 |
| Aspen | 4500 | 4061 |
| Athos | 5050 | 7557 |
| Barclay | 7708 | 7963 |
| Bayne | 5878 |  |
| Bean | 7230 | 8287 |
| Bennett | 6076 | 6277 |
| Benny | 4265 | 6616 |
| Bluebell | 7811 | 8202 |
| Bowling | 5454 | 5381 |
| Boxwood | 5191 |  |
| Bradford | 7263 | 7263 |
| Brookwood | 6210 | 6576 |
| Bryant | 5728 | 6886 |
| Caden | 2261 | 5463 |
| Camellia | 6562 | 7425 |
| Caterpillar | 3467 | 5790 |
| Chilhowee | 7079 | 9451 |
| Claremore | 2947 | 6649 |
| Collinison | 4948 | 7725 |
| Cordero | 7394 | 8852 |
| Cristalino | 5756 | 2462 |
| Ellie | 971 | 7532 |
| Emelina | 3021 | 5229 |
| Ethan | 2686 | 3877 |
| Frances | 9895 | 7791 |
| Glenncrest | 7293 | 1311 |
| Gordon | 6819 | 7245 |
| Haikey | 6311 | 6659 |
| Hamblen | 6094 | 7693 |
| Hancock | 7418 | 6664 |
| Hardman | 9433 | 9434 |
| Haven | 4242 | 2871 |
| Haverhill | 6402 | 3464 |
| Haybridge | 4984 | 8111 |
| Hedgecrest | 7097 | 4900 |
| Helmerich | 6510 | 6811 |
| Hermanos | 5408 | 2178 |
| Holmes | 3076 | 5814 |
| Johnson | 8429 |  |
| Keystone | 8621 | 8461 |
| Langley | 8111 |  |
| Laurel | 9804 | 1457 |
| Layla | 9035 | 8805 |
| Liberty | 4204 | 5367 |
| Lithonia | 4638 | 5471 |
| Lola | 9401 | 8012 |
| Lucas | 1843 | 8036 |
| Macomber | 6216 | 7426 |
| Mallard | 5398 | 6880 |
| Marcy | 6705 | 5101 |
| Meridian | 5364 | 6941 |
| Metallo |  |  |
| Misty | 8938 |  |
| Montgomery | 3903 | 2124 |
| Northbrook | 6236 | 4802 |
| Northridge | 5303 | 4824 |
| Oakland | 9186 | 1369 |
| Palmore | 1861 | 4712 |
| Pebblestone | 8721 | 8447 |
| Perdita | 7138 | 7491 |
| Phoebe | 7846 | 1242 |
| Pongo | 7720 | 7720 |
| Portsmouth | 3536 | 6950 |
| Presidio | 2895 |  |
| Rachel | 7481 | 4988 |
| Ratliff | 8548 | 6966 |
| Riverwood | 6426 | 6882 |
| Roanoke | 9123 | 9758 |
| Robinson | 8550 |  |
| Ross | 10119 | 9135 |
| Sansa | 6238 | 5229 |
| Sedgefield | 7937 |  |
| Seneca | 7638 |  |
| Sheezy | 6291 | 7517 |
| Sherwood | 6349 | 5213 |
| Spangler | 1499 |  |
| Summerglen | 4789 | 7026 |
| Tansel | 3039 | 8425 |
| Thomas | 4266 | 6515 |
| Tomlinson | 1904 |  |
| Tytus | 7997 | 7905 |
| Vanzant | 9980 | 7069 |
| Watson | 5609 | 5616 |
| Westhaven | 3941 | 7919 |
| Wheeler | 6760 | 6685 |
| Williamson | 8300 | 9073 |
| Woodland | 4394 | 5136 |
| Woodwind | 330 | 6541 |
| Wynde | 6652 | 5160 |
| Wyndhurst | 3121 | 7710 |
| Zane | 5537 | 5437 |
|  | $**569798** | $**525555** |

---

**NOTE 8: RELATED PARTY TRANSACTIONS**

The Series' Manager, Arrived Fund Manager, LLC, is the managing member with common management of the Series.

*Mortgage Payable*

None of the Series had mortgages with the Manager in connection with the purchases of the respective properties.

*Due from (to) Related Party*

The Series enters into various transactions with the Manager and affiliates of the Manager in the normal course of operating and financing activities. As of June 30, 2025, certain Series owed an aggregate of $307,645 and including the initial funding for the certain properties' purchases. As of June 30, 2025, certain Series were owed an aggregate of $2,646 from the Manager. These advances are interest-free and do not have defined repayment terms.

 

*Deemed Contributions*

During the six months ended June 30, 2025 and 2024, certain Series received deemed contributions from the Manager, amounting to $28,006 and $28,591, respectively, in exchange for forgiveness of previously due amounts.

*Management Compensation* 

During the six months ended June 30, 2025 and 2024, total management fees charged by the Manager, including asset management fees and property management fees, were an aggregate of $123,252 and $96,853, respectively.

The following table reflects the total management compensations paid by Series during the six months ended June 30, 2025 and 2024.

**June 30, 2025**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Series** | **Sourcing fees** | **Financing and holding<br> expenses** | **Offering expense** | **Asset management<br> fee** | **Reimbursement<br> of acquisition expenses** | **Property management fee,<br> related party** |
| Adams | $10640 | $5320 | $7224 | $912 | $2500 | $606 |
| Antares |  |  |  | 930 |  | 514 |
| Aramis |  |  |  | 900 |  | 562 |
| Arkoma |  |  |  | 711 |  | 302 |
| Arya |  |  |  | 540 |  | 250 |
| Aspen |  |  |  | 803 |  | 847 |
| Athos |  |  |  | 870 |  | 586 |
| Barclay |  |  |  | 921 |  | 532 |
| Bayne | 12160 | 6080 | 8222 | 869 | 2500 | 588 |
| Bean |  |  |  | 878 |  | 610 |
| Bennett |  |  |  | 635 |  | 237 |
| Benny |  |  |  | 765 |  | 442 |
| Bluebell |  |  |  | 900 |  | 598 |
| Bowling |  |  |  | 624 |  | 225 |
| Boxwood | 11280 | 5640 | 7636 | 808 | 2500 | 422 |
| Bradford |  |  |  | 915 |  | 502 |
| Brookwood |  |  |  | 842 |  | 262 |
| Bryant |  |  |  | 840 |  | 586 |
| Caden |  |  |  | 750 |  | 416 |
| Camellia |  |  |  | 765 |  | 266 |
| Caterpillar |  |  |  | 900 |  | 215 |
| Chilhowee |  |  |  | 972 |  | 730 |
| Claremore |  |  |  | 704 |  | 310 |
| Collinison |  |  |  | 903 |  | 586 |
| Cordero |  |  |  | 765 |  | 562 |
| Cristalino |  |  |  | 930 |  | 802 |
| Ellie |  |  |  | 860 |  | 341 |
| Emelina |  |  |  | 750 |  | 302 |
| Ethan |  |  |  | 579 |  | 288 |
| Frances |  |  |  | 834 |  | 554 |
| Glenncrest |  |  |  | 870 |  | 448 |
| Gordon |  |  |  | 765 |  | 490 |
| Haikey |  |  |  | 734 |  | 437 |
| Hamblen |  |  |  | 769 |  | 400 |
| Hancock |  |  |  | 810 |  | 615 |
| Hardman |  |  |  | 1163 |  | 778 |
| Haven |  |  |  | 555 |  | 298 |
| Haverhill |  |  |  | 704 |  | 176 |
| Haybridge |  |  |  | 1080 |  | 269 |
| Hedgecrest |  |  |  | 1080 |  | 496 |
| Helmerich |  |  |  | 763 |  | 384 |
| Hermanos |  |  |  | 930 |  | 623 |
| Holmes |  |  |  | 529 |  | 236 |
| Johnson |  |  |  | 978 |  | 742 |
| Keystone |  |  |  | 1040 |  | 800 |
| Langley | 11550 | 5770 | 7845 | 995 | 2500 | 802 |
| Laurel |  |  |  | 1006 |  | 682 |
| Layla |  |  |  | 971 |  | 650 |
| Liberty |  |  |  | 750 |  | 514 |
| Lithonia |  |  |  | 849 |  | 279 |
| Lola |  |  |  | 903 |  | 598 |
| Lucas |  |  |  | 765 |  | 257 |
| Macomber |  |  |  | 825 |  | 646 |
| Mallard |  |  |  | 624 |  | 348 |
| Marcy |  |  |  | 540 |  | 232 |
| Meridian |  |  |  | 795 |  | 464 |
| Metallo | 10290 | 5140 | 6982 | 887 | 2500 | 72 |
| Misty |  |  |  | 1035 |  | 815 |
| Montgomery |  |  |  | 615 |  | 370 |
| Northbrook |  |  |  | 846 |  | 490 |
| Northridge |  |  |  | 810 |  | 402 |
| Oakland |  |  |  | 921 |  | 646 |
| Palmore |  |  |  | 600 |  | 224 |
| Pebblestone |  |  |  | 1009 |  | 682 |
| Perdita |  |  |  | 998 |  | 538 |
| Phoebe |  |  |  | 828 |  | 523 |
| Pongo |  |  |  | 998 |  | 586 |
| Portsmouth |  |  |  | 639 |  | 618 |
| Presidio | 8470 | 4230 | 5741 | 605 | 2500 | 278 |
| Rachel |  |  |  | 866 |  | 387 |
| Ratliff |  |  |  | 957 |  | 598 |
| Riverwood |  |  |  | 864 |  | 586 |
| Roanoke |  |  |  | 1005 |  | 778 |
| Robinson |  |  |  | 967 |  | 714 |
| Ross |  |  |  | 999 |  | 700 |
| Sansa |  |  |  | 540 |  | 239 |
| Sedgefield |  |  |  | 909 |  | 701 |
| Seneca |  |  |  | 885 |  | 658 |
| Sheezy |  |  |  | 699 |  | 476 |
| Sherwood |  |  |  | 525 |  | 250 |
| Spangler | 13370 | 6680 | 9088 | 955 | 2500 | 353 |
| Summerglen |  |  |  | 726 |  | 512 |
| Tansel |  |  |  | 980 |  | 594 |
| Thomas |  |  |  | 658 |  | 144 |
| Tomlinson | 8570 | 4280 | 5860 | 490 | 2500 | 222 |
| Tytus |  |  |  | 780 |  | 562 |
| Vanzant |  |  |  | 1065 |  | 658 |
| Watson |  |  |  | 529 |  | 250 |
| Westhaven |  |  |  | 765 |  | 502 |
| Wheeler |  |  |  | 624 |  | 403 |
| Williamson |  |  |  | 855 |  | 527 |
| Woodland |  |  |  | 480 |  | 202 |
| Woodwind |  |  |  | 765 |  | 357 |
| Wynde |  |  |  | 750 |  | 526 |
| Wyndhurst |  |  |  | 934 |  | 209 |
| Zane | - | - | - | 489 | - | 192 |
|  | $**86330** | $**43140** | $**58598** | $**78016** | $**20000** | $**45236** |

---

**June 30, 2024**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Series** | **Sourcing fees** | **Financing and holding<br> expenses** | **Offering expense** | **Asset management<br> fee** | **Reimbursement<br> of acquisition expenses** | **Property management fee,<br> related party** |
| Antares | $- | $- | $- | $1085 | $- | $514 |
| Aramis |  | (640) | (10) | 1050 | 180 | 513 |
| Arkoma |  |  |  | 830 |  | 288 |
| Arya |  |  |  | 630 |  | 228 |
| Aspen |  |  |  | 803 |  | 140 |
| Athos |  | (750) | (12) | 1015 | 190 | 579 |
| Barclay |  | (300) | 11 | 1075 | 820 | 476 |
| Bean |  |  |  | 1025 |  | 547 |
| Bennett |  |  |  | 635 |  | 170 |
| Benny |  |  |  | 765 |  | 423 |
| Bluebell |  |  |  | 1050 |  | 598 |
| Bowling |  |  |  | 624 |  |  |
| Bradford |  |  |  | 1068 |  | 502 |
| Brookwood |  |  |  | 842 |  | 187 |
| Bryant |  |  |  | 840 |  | 564 |
| Caden |  |  |  | 750 |  | 207 |
| Camellia |  |  |  | 765 |  |  |
| Caterpillar |  |  |  | 1050 |  | 180 |
| Chilhowee |  |  |  | 972 |  | 793 |
| Claremore |  |  |  | 704 |  | 356 |
| Collinison |  |  |  | 903 |  | 552 |
| Cordero |  |  |  | 765 |  | 597 |
| Cristalino |  |  |  | 930 |  | 530 |
| Ellie |  |  |  | 1003 |  | 599 |
| Emelina |  |  |  | 750 |  | 388 |
| Ethan |  |  |  | 579 |  | 251 |
| Frances | 9720 | 4860 | 6583 | 417 | 2500 | 421 |
| Glenncrest | 10150 | 5070 | 6722 | (290) | 2500 | 508 |
| Gordon |  |  |  | 893 |  | 404 |
| Haikey |  |  |  | 734 |  | 399 |
| Hamblen |  |  |  | 769 |  | 544 |
| Hancock |  |  |  | 810 |  | 508 |
| Hardman |  |  |  | 1163 |  | 774 |
| Haven |  |  |  | 555 |  | 256 |
| Haverhill |  |  |  | 704 |  | 315 |
| Haybridge |  |  |  | 1080 |  | 390 |
| Hedgecrest |  |  |  | 1080 |  | 269 |
| Helmerich |  |  |  | 763 |  | 408 |
| Hermanos |  |  |  | 930 |  | 471 |
| Holmes |  |  |  | 529 |  | 209 |
| Johnson |  |  |  |  |  |  |
| Keystone |  |  |  | 1040 |  | 526 |
| Laurel | 11730 | 5860 | 7882 | 168 | 2500 | 525 |
| Layla |  |  |  | 1133 |  | 397 |
| Liberty |  | (650) | (8) | 875 | 250 | 499 |
| Lithonia |  |  |  | 849 |  | 74 |
| Lola |  |  |  | 1054 |  | 534 |
| Lucas |  |  |  | 893 |  | 542 |
| Macomber |  |  |  | 963 |  | 595 |
| Mallard |  | (550) | 1 | 728 | 610 | 418 |
| Marcy |  |  |  | 630 |  | 134 |
| Meridian |  |  |  | 928 |  | 312 |
| Montgomery |  |  |  | 275 |  | 228 |
| Northbrook |  |  |  | 846 |  | 245 |
| Northridge | 9440 | 4720 | 6391 | 810 | 2500 | 131 |
| Oakland |  |  |  | (461) |  | 340 |
| Palmore |  |  |  | 600 |  | 191 |
| Pebblestone |  |  |  | 1009 |  | 470 |
| Perdita |  |  |  | 1164 |  | 538 |
| Phoebe | 9660 | 4830 | 6538 | (276) | 2500 | 251 |
| Pongo |  |  |  | 1164 |  | 586 |
| Portsmouth |  |  |  | 639 |  | 386 |
| Rachel | 10100 | 5050 | 6842 | 433 | 2500 | 264 |
| Ratliff |  |  |  | 1117 |  | 343 |
| Riverwood |  | (850) | (14) | 1008 | (294) | 163 |
| Roanoke |  | (660) | (11) | 1173 | 130 | 896 |
| Ross | 11650 | 5820 | 7882 | 500 | 2500 | 613 |
| Sansa |  |  |  | 630 |  | 244 |
| Sedgefield |  |  |  |  |  | 275 |
| Sheezy |  |  |  | 699 |  | 446 |
| Sherwood |  |  |  | 613 |  | 223 |
| Summerglen |  |  |  | 687 |  | 478 |
| Tansel |  |  |  | 1143 |  | 569 |
| Thomas |  |  |  | 658 |  | 189 |
| Tytus |  | (690) | (9) | 910 | 240 | 523 |
| Vanzant | 12420 | 6210 | 8317 | 533 | 2500 | 489 |
| Watson |  |  |  | 529 |  | 250 |
| Westhaven |  |  |  | 765 |  | 620 |
| Wheeler |  |  |  | 624 |  | 372 |
| Williamson |  | (460) | (5) | 998 | 190 | 538 |
| Woodland |  |  |  | 560 |  | 202 |
| Woodwind |  |  |  | 765 |  | 169 |
| Wynde |  |  |  | 750 |  | 494 |
| Wyndhurst | 10890 | 5440 | 7349 | 467 | 2500 | 528 |
| Zane | - | - | - | 571 | - | 192 |
|  | $**95760** | $**42310** | $**64449** | $**63799** | $**24816** | $**33054** |

---

**NOTE 9: INCOME TAXES**

The Company is taxed as a C corporation for U.S. federal income tax purposes. In connection with its real estate activities, the Company is treated as a real estate investment trust ("REIT") under the Internal Revenue Code.

As a REIT, the Company generally is not subject to U.S. federal income tax on taxable income that is distributed to stockholders, provided it meets all REIT qualification requirements, including distributing at least 90% of its taxable income and satisfying certain asset and income tests. For the year ended December 31, 2025, the Company anticipates that it will qualify as a REIT. As a result, the Company does not expect to incur a current federal tax liability for the year and thus, no tax provision is reflected for Series with net income for the six months ended June 30, 2025 and 2024. For Series with net losses for the six months ended June 30, 2025 and 2024, no income tax benefit is recognized as the Company has established a full valuation allowance on the net operating loss tax benefit.

In accordance with ASC 740, Income Taxes, the Company evaluates temporary differences between the financial reporting basis and the tax basis of its assets and liabilities. As of June 30, 2025 and December 31, 2024, the Company did not have any temporary differences, other than net operating losses which were fully reserved, and thus no net deferred tax assets or liabilities were recorded

Although the Company expects to qualify and be taxed as a REIT for U.S. federal income tax purposes, it may be subject to state and local income or franchise taxes in various jurisdictions. These taxes are generally imposed either due to the Company's legal entity status or as a result of owning or operating real estate assets within those jurisdictions. The Company evaluates its exposure to such taxes on a jurisdictional basis. For the six months ended June 30, 2025 and 2024, state income and franchise tax obligations, if any, were not material to the consolidated and consolidating financial statements.

The Company's policy is to record interest and penalties related to unrecognized tax benefits, if any, as a component of income tax expense in the consolidated statement of operations. As of December 31, 2024, the Company had no unrecognized tax benefits and did not incur any interest or penalties related to uncertain tax positions during the six months ended June 30, 2025. Accordingly, no accrual for uncertain tax positions was recorded as of June 30, 2025 and December 31, 2024.

The Company is not currently subject to any income tax audits in any taxing jurisdiction. However, the Company's 2024 and 2023 tax years remain open and subject to examination by the relevant taxing authorities.

**NOTE 10: SUBSEQUENT EVENTS**

During the period from July 1, 2025 through August 31, 2025, the Company has declared and paid aggregate dividends totaling $214,453.

**ITEM 4. EXHIBITS**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 2.1\* | [Certificate of Formation of Arrived Homes 3, LLC](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000005/ex2-1_arrived3.htm) |
| 2.2\* | [Amended and Restated Limited Liability Company Agreement of Arrived Homes 3, LLC](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000048/ex2-2_arrived3.htm) |
| 3.1\* | [Form of Series Designation of Arrived Series \[\*\], a series of Arrived Homes 3, LLC](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000005/ex3-1_arrived3.htm) |
| 4.1\* | [Form of Subscription Agreement of Arrived Series \[\*\], a Series of Arrived Homes 3, LLC](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000006/ex4-1_arrived3.htm) |
| 6.1\* | [Broker Dealer Agreement, dated January 4, 2023 between Arrived Homes 3, LLC and Dalmore Group, LLC](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000005/ex6-1_arrived3.htm) |
| 6.2\* | [Transfer Registrar Services Agreement, dated January 13, 2023, between Arrived Homes 3, LLC and Colonial Stock Transfer Company](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000005/ex6-2_arrived3.htm) |
| 6.3\* | [Form of Promissory Note](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000005/ex6-3_arrived3.htm) |
| 6.4\* | [Software and Services License Agreement, dated \[\*\], 202\[\*\], by and between North Capital Investment Technology, Inc. and Arrived Holdings, Inc.](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000005/ex6-4_arrived3.htm) |
| 6.5\* | [Form of Property Management Agreement dated \[\*\], 202\[\*\], between Marketplace Homes and Arrived Series \[\*\], a series of Arrived Homes 3, LLC](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000005/ex6-5_arrived3.htm) |
| 6.6\* | [Purchase and Sale Agreement dated December 20, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Chilhowee property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000005/chilhowee_psa.htm) |
| 6.6.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Chilhowee dated December 21, 2022 for Arrived Series Chilhowee property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000005/chilhowee_assignment.htm) |
| 6.7\* | [Purchase and Sale Agreement dated November 29, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Sheezy property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000005/sheezy_psa.htm) |
| 6.7.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Sheezy dated November 30, 2022 for Arrived Series Sheezy property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000005/sheezy_assignment.htm) |
| 6.8\* | [Purchase and Sale Agreement dated December 12, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Bowling Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000017/bowling_psa.htm) |
| 6.8.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Bowling dated December 16, 2022 for Arrived Series Bowling Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000017/bowling_assignment.htm) |
| 6.9\* | [Purchase and Sale Agreement dated January 23, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Caden Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000017/caden_psa.htm) |
| 6.9.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Caden dated January 22, 2023 for Arrived Series Caden Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000017/caden_assignment.htm) |
| 6.10\* | [Purchase and Sale Agreement dated January 23, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Cristalino Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000017/cristalino_psa.htm) |
| 6.10.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Cristalino dated December 21, 2022 for Arrived Series Cristalino Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000017/cristalino_assignment.htm) |
| 6.10.2\* | [Counteroffer to Offer dated December 19, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Cristalino Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000017/cristalino_counteroffer.htm) |
| 6.10.3\* | [Addendum to Purchase and Sale Agreement dated December 16, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Cristalino Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000017/cristalino_addendum.htm) |
| 6.11\* | [Purchase and Sale Agreement dated January 5, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Emelina Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000017/emelina_psa.htm) |
| 6.11.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Emelina dated January 10, 2023 for Arrived Series Emelina Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000017/emelina_assignment.htm) |
| 6.12\* | [Purchase and Sale Agreement dated December 20, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Haven Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000017/haven_psa.htm) |
| 6.12.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Haven dated December 21, 2022 for Arrived Series Haven Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000017/haven_assignment.htm) |

---

---

| | |
|:---|:---|
| 6.12.2\* | [Addendum to Purchase and Sale Agreement dated January 3, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Haven Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000017/haven_addendum.htm) |
| 6.13\* | [Purchase and Sale Agreement dated December 19, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Hermanos Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000017/hermanos_psa.htm) |
| 6.13.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Hermanos dated January 10, 2023 for Arrived Series Hermanos Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000017/hermanos_assignment.htm) |
| 6.13.2\* | [Counteroffer to Offer dated January 5, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Hermanos Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000017/hermanos_counteroffer.htm) |
| 6.14\* | [Form of Property Management Agreement dated \[\*\], 202\[\*\], between Great Jones and Arrived Series \[\*\], a series of Arrived Homes 3, LLC](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000017/ex6_14.htm) |
| 6.15\* | [Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Aspen Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/aspen_psa.htm) |
| 6.15.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Aspen dated February 28, 2023 for Arrived Series Aspen Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/aspen_assignment.htm) |
| 6.16\* | [Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Bennett Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/bennett_psa.htm) |
| 6.16.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Bennett dated February 28, 2023 for Arrived Series Bennett Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/benett_assignment.htm) |
| 6.17\* | [Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Brookwood Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/brookwood_psa.htm) |
| 6.17.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Brookwood dated February 28, 2023 for Arrived Series Brookwood Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/brookwood_assignment.htm) |
| 6.18\* | [Purchase and Sale Agreement dated January 13, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Camellia Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/camellia_psa.htm) |
| 6.18.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Camellia dated January 23, 2023 for Arrived Series Camellia Property.](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/camellia_assignment.htm) |
| 6.19\* | [Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Haverhill Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/haverhill_psa.htm) |
| 6.19.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Haverhill dated February 28, 2023 for Arrived Series Haverhill Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/haverhill_assignment.htm) |
| 6.20\* | [Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Lithonia Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/lithonia_psa.htm) |
| 6.20.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Lithonia dated February 28, 2023 for Arrived Series Lithonia Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/lithonia_assignment.htm) |
| 6.21\* | [Purchase and Sale Agreement dated January 24, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Palmore Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/palmore_psa.htm) |
| 6.21.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Palmore dated January 28, 2023 for Arrived Series Palmore Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/palmore_assignment.htm) |
| 6.22\* | [Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Thomas Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/thomas_psa.htm) |
| 6.22.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Thomas dated January 28, 2023 for Arrived Series Thomas Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/thomas_assignment.htm) |
| 6.23\* | [Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Woodwind Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/woodwind_psa.htm) |
| 6.23.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Woodwind dated February 28, 2023 for Arrived Series Woodwind Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/woodwind_assignment.htm) |
| 6.24\* | [Form of Property Management Agreement dated \[\*\], 202\[\*\], between Mynd and Arrived Series \[\*\], a series of Arrived Homes 3, LLC](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000021/exhibit6_24.htm) |
| 6.25\* | [Purchase and Sale Agreement dated February 19, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Benny Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000025/benny_psa.htm) |

---

---

| | |
|:---|:---|
| 6.25.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Benny dated February 22, 2023 for Arrived Series Benny Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000025/benny_assignment.htm) |
| 6.26\* | [Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Montgomery Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000025/montgomery_psa.htm) |
| 6.26.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Montgomery dated February 24, 2023 for Arrived Series Montgomery Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000025/montgomery_assignment.htm) |
| 6.26.2\* | [Addendum to Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Montgomery Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000025/montgomery_addendum.htm) |
| 6.27\* | [Purchase and Sale Agreement dated February 13, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Portsmouth Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000025/portsmouth_psa.htm) |
| 6.27.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Portsmouth dated March 6, 2023 for Arrived Series Portsmouth Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000025/portsmouth_assignment.htm) |
| 6.28\* | [Purchase and Sale Agreement dated March 8, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Summerglen Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000025/summerglen_psa.htm) |
| 6.28.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Summerglen dated March 8, 2023 for Arrived Series Summerglen Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000025/summerglen_assignment.htm) |
| 6.28.2\* | [Addendum to Purchase and Sale Agreement dated February 8, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Summerglen Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000025/summerglen_addendum.htm) |
| 6.29\* | [Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Westhaven Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000025/westhaven_psa.htm) |
| 6.29.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Westhaven dated February 24, 2023 for Arrived Series Westhaven Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000025/westhaven_assignment.htm) |
| 6.30\* | [Form of Property Management Agreement dated \[\*\], 202\[\*\], between Darwin Homes and Arrived Series \[\*\], a series of Arrived Homes 3, LLC](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000025/ex6_30.htm) |
| 6.31\* | [Purchase and Sale Agreement dated March 6, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Cordero Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000030/cordero_psa.htm) |
| 6.31.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Cordero dated March 7, 2023 for Arrived Series Cordero Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000030/cordero_assignment.htm) |
| 6.32\* | [Purchase and Sale Agreement dated March 13, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Ethan Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000030/ethan_psa.htm) |
| 6.32.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Ethan dated March 16, 2023 for Arrived Series Ethan Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000030/ethan_assignment.htm) |
| 6.33\* | [Purchase and Sale Agreement dated March 13, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Hamblen Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000030/hamblen_psa.htm) |
| 6.33.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Hamblen dated March 10, 2023 for Arrived Series Hamblen Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000030/hamblen_assignment.htm) |
| 6.34\* | [Purchase and Sale Agreement dated February 25, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Holmes Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000030/holmes_psa.htm) |
| 6.34.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Holmes dated March 7, 2023 for Arrived Series Holmes Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000030/holmes_assignment.htm) |
| 6.35\* | [Purchase and Sale Agreement dated February 25, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Watson Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000030/watson_psa.htm) |
| 6.35.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Watson dated March 7, 2023 for Arrived Series Watson Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000030/watson_assignment.htm) |
| 6.36\* | [Purchase and Sale Agreement dated March 3, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Wheeler Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000030/wheeler_psa.htm) |
| 6.36.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Wheeler dated March 6, 2023 for Arrived Series Wheeler Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000030/wheeler_assignment.htm) |
| 6.37\* | [Purchase and Sale Agreement dated March 16, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Bryant Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000032/bryant_psa.htm) |

---

---

| | |
|:---|:---|
| 6.37.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Bryant dated March 22, 2023 for Arrived Series Bryant Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000032/bryant_assignment.htm) |
| 6.37.2\* | [Addendum to Purchase and Sale Agreement dated March 24, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Bryant Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000032/bryant_addendum.htm) |
| 6.38\* | [Purchase and Sale Agreement dated March 8, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Claremore Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000032/claremore_psa.htm) |
| 6.38.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Claremore dated March 1, 2023 for Arrived Series Claremore Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000032/claremore_assignment.htm) |
| 6.38.2\* | [Addendum to Purchase and Sale Agreement dated March 14, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Claremore Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000032/claremore_addendum.htm) |
| 6.39\* | [Purchase and Sale Agreement dated February 6, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Haikey Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000032/haikey_psa.htm) |
| 6.39.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Haikey dated March 1, 2023 for Arrived Series Haikey Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000032/haikey_assignment.htm) |
| 6.40\* | [Purchase and Sale Agreement dated March 24, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Hancock Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000032/hancock_psa.htm) |
| 6.40.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Hancock dated March 28, 2023 for Arrived Series Hancock Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000032/hancock_assignment.htm) |
| 6.41\* | [Purchase and Sale Agreement dated February 8, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Helmerich Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000032/helmerich_psa.htm) |
| 6.41.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Helmerich dated March 1, 2023 for Arrived Series Helmerich Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000032/helmerich_assignment.htm) |
| 6.41.2\* | [Addendum to Purchase and Sale Agreement dated March 15, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Helmerich Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000032/helmerich_addendum.htm) |
| 6.42\* | [Purchase and Sale Agreement dated March 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Wynde Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000032/wynde_psa.htm) |
| 6.42.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Wynde dated April 5, 2023 for Arrived Series Wynde Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000032/wynde_assignment.htm) |
| 6.43\* | [Purchase and Sale Agreement dated April 18, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Arkoma Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000039/arkoma_psa.htm) |
| 6.43.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Arkoma dated March 1, 2023 for Arrived Series Arkoma Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000039/arkoma_assignment.htm) |
| 6.43.2\* | [Addendum to Purchase and Sale Agreement dated March 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Arkoma Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000039/arkoma_addendum.htm) |
| 6.44\* | [Purchase and Sale Agreement dated March 17, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Gordon Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000039/gordon_psa.htm) |
| 6.44.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Gordon dated March 30, 2023 for Arrived Series Gordon Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000039/gordon_assignment.htm) |
| 6.45\* | [Purchase and Sale Agreement dated March 30, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Lucas Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000039/lucas_psa.htm) |
| 6.45\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Lucas dated April 4, 2023 for Arrived Series Lucas Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000039/lucas_assignment.htm) |
| 6.46\* | [Purchase and Sale Agreement dated April 18, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Macomber Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000039/macomber_psa.htm) |
| 6.46.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Macomber dated March 1, 2023 for Arrived Series Macomber Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000039/macomber_assignment.htm) |
| 6.47\* | [Purchase and Sale Agreement dated March 22, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Meridian Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000039/meridian_psa.htm) |
| 6.47.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Meridian dated March 28, 2023 for Arrived Series Meridian Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000039/meridian_assignment.htm) |

---

---

| | |
|:---|:---|
| 6.47.2\* | [Counteroffer to Offer dated March 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Meridian Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000039/meridian_counteroffer.htm) |
| 6.48\* | [Purchase and Sale Agreement dated March 27, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Perdita Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000039/perdita_psa.htm) |
| 6.48.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Perdita dated April 18, 2023 for Arrived Series Perdita Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000039/perdita_assignment.htm) |
| 6.49\* | [Purchase and Sale Agreement dated March 27, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Pongo Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000039/pongo_psa.htm) |
| 6.49.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Pongo dated April 19, 2023 for Arrived Series Pongo Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000039/pongo_assignment.htm) |
| 6.50\* | [Purchase and Sale Agreement dated March 22, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Woodland Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000039/woodland_psa.htm) |
| 6.50.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Woodland dated March 17, 2023 for Arrived Series Woodland Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000039/woodland_assignment.htm) |
| 6.51\* | [Purchase and Sale Agreement dated April 10, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Antares Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/antares_psa.htm) |
| 6.51.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Antares dated April 24, 2023 for Arrived Series Antares Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/antares_assignment.htm) |
| 6.51.2\* | [Counteroffer to Offer dated April 10, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Antares Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/antares_counteroffer.htm) |
| 6.52\* | [Purchase and Sale Agreement dated April 13, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Aramis Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/aramis_psa.htm) |
| 6.52.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Aramis dated April 14, 2023 for Arrived Series Aramis Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/aramis_assignment.htm) |
| 6.53\* | [Purchase and Sale Agreement dated April 11, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Athos Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/athos_psa.htm) |
| 6.53.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Athos dated April 13, 2023 for Arrived Series Athos Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/athos_assignment.htm) |
| 6.53.2\* | [Counteroffer to Offer dated April 11, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Athos Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/athos_assignment.htm) |
| 6.54\* | [Purchase and Sale Agreement dated April 11, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Barclay Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/barclay_psa.htm) |
| 6.54.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Barclay dated April 17, 2023 for Arrived Series Barclay Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/barclay_assignment.htm) |
| 6.55\* | [Purchase and Sale Agreement dated September 29, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Bean Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/bean_psa.htm) |
| 6.55.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Bean dated September 2, 2023 for Arrived Series Bean Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/bean_assignment.htm) |
| 6.56\* | [Purchase and Sale Agreement dated April 6, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Bluebell Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/bluebell_psa.htm) |
| 6.56.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Bluebell dated April 17, 2023 for Arrived Series Bluebell Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/bluebell_assignment.htm) |
| 6.57\* | [Purchase and Sale Agreement dated April 6, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Bradford Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/bradford_psa.htm) |
| 6.57.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Bradford dated April 6, 2023 for Arrived Series Bradford Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/bradford_assignment.htm) |
| 6.58\* | [Purchase and Sale Agreement dated April 8, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Caterpillar Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/caterpillar_psa.htm) |
| 6.58.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Caterpillar dated April 21, 2023 for Arrived Series Caterpillar Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/caterpillar_assignment.htm) |

---

---

| | |
|:---|:---|
| 6.58.2\* | [Addendum to Purchase and Sale Agreement dated April 10, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Caterpillar Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/caterpillar_addendum.htm) |
| 6.59\* | [Purchase and Sale Agreement dated August 2, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Ellie Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/ellie_psa.htm) |
| 6.59.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Ellie dated September 11, 2023 for Arrived Series Ellie Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/ellie_assignment.htm) |
| 6.60\* | [Purchase and Sale Agreement dated March 8, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Liberty Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/liberty_psa.htm) |
| 6.60.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Liberty dated March 10, 2023 for Arrived Series Liberty Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/liberty_assignment.htm) |
| 6.61\* | [Purchase and Sale Agreement dated March 9, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Mallard Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/mallard_psa.htm) |
| 6.61.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Mallard dated March 16, 2023 for Arrived Series Mallard Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/mallard_assignment.htm) |
| 6.61.2\* | [Addendum to Purchase and Sale Agreement dated March 9, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Mallard Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/mallard_addendum.htm) |
| 6.62\* | [Purchase and Sale Agreement dated March 17, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Riverwood Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/riverwood_psa.htm) |
| 6.62.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Riverwood dated April 21, 2023 for Arrived Series Riverwood Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/riverwood_assignment.htm) |
| 6.63\* | [Purchase and Sale Agreement dated April 12, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Roanoke Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/roanoke_psa.htm) |
| 6.63.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Roanoke dated April 13, 2023 for Arrived Series Roanoke Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/roanoke_assignment.htm) |
| 6.63.2\* | [Addendum to Purchase and Sale Agreement dated April 13, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Roanoke Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/roanoke_addendum.htm) |
| 6.64\* | [Purchase and Sale Agreement dated March 24, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Sherwood Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/sherwood_psa.htm) |
| 6.64.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Sherwood dated March 28, 2023 for Arrived Series Sherwood Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/sherwood_assignment.htm) |
| 6.65\* | [Purchase and Sale Agreement dated April 5, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Tansel Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/tansel_psa.htm) |
| 6.65.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Tansel dated April 18, 2023 for Arrived Series Tansel Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/tansel_assignment.htm) |
| 6.66\* | [Purchase and Sale Agreement dated March 30, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Tytus Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/tytus_psa.htm) |
| 6.66.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Tansel dated April 5, 2023 for Arrived Series Tytus Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/tytus_assignment.htm) |
| 6.67\* | [Purchase and Sale Agreement dated February 17, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Williamson Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/williamson_psa.htm) |
| 6.67.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Williamson dated March 6, 2023 for Arrived Series Williamson Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/williamson_assignment.htm) |
| 6.68\* | [Purchase and Sale Agreement dated April 8, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Zane Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/zane_psa.htm) |
| 6.68.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Zane dated April 13, 2023 for Arrived Series Zane Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000071/zane_assignment.htm) |
| 6.69\* | [Purchase and Sale Agreement dated September 1, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Arya Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000076/arya_psa.htm) |
| 6.69.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Arya dated October 4, 2023 for Arrived Series Arya Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000076/arya_assignment.htm) |

---

---

| | |
|:---|:---|
| 6.70\* | [Purchase and Sale Agreement dated July 28, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Marcy Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000076/marcy_psa.htm) |
| 6.70.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Marcy dated October 4, 2023 for Arrived Series Marcy Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000076/marcy_assignment.htm) |
| 6.71\* | [Purchase and Sale Agreement dated September 1, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Sansa Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000076/sansa_psa.htm) |
| 6.71.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Sansa dated October 4, 2023 for Arrived Series Sansa Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000076/sansa_assignment.htm) |
| 6.72\* | [Purchase and Sale Agreement dated September 19, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Haybridge Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000094/haybridge_psa.htm) |
| 6.72.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Haybridge dated September 28, 2023 for Arrived Series Haybridge Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000094/haybridge_assignment.htm) |
| 6.72.2\* | [Addendum to Purchase and Sale Agreement dated September 9, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Haybridge Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000094/haybridge_addendum.htm) |
| 6.73\* | [Purchase and Sale Agreement dated September 19, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Hedgecrest Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000094/hedgecrest_psa.htm) |
| 6.73.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Hedgecrest dated September 28, 2023 for Arrived Series Hedgecrest Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000094/hedgecrest_assignment.htm) |
| 6.74\* | [Purchase and Sale Agreement dated September 19, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Layla Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000094/layla_psa.htm) |
| 6.74.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Layla dated October 23, 2023 for Arrived Series Layla Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000094/layla_assignment.htm) |
| 6.75\* | [Purchase and Sale Agreement dated September 19, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Lola Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000094/lola_psa.htm) |
| 6.75.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Lola dated October 23, 2023 for Arrived Series Lola Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000094/lola_assignment.htm) |
| 6.76\* | [Purchase and Sale Agreement dated October 10, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Ratliff Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000094/ratliff_psa.htm) |
| 6.76.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Ratliff dated October 19, 2023 for Arrived Series Ratliff Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000094/ratliff_assignment.htm) |
| 6.77\* | [Purchase and Sale Agreement dated October 12, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Collinison Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000097/collinison_psa.htm) |
| 6.77.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Collinison dated October 30, 2023 for Arrived Series Collinison Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000097/collinison_assignment.htm) |
| 6.78\* | [Purchase and Sale Agreement dated October 8, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Hardman Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000097/hardman_psa.htm) |
| 6.78.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Hardman dated October 24, 2023 for Arrived Series Hardman Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000097/hardman_assignment.htm) |
| 6.79\* | [Purchase and Sale Agreement dated September 28, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Keystone Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000097/keystone_psa.htm) |
| 6.79.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Keystone dated October 31, 2023 for Arrived Series Keystone Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000097/keystone_assignment.htm) |
| 6.80\* | [Purchase and Sale Agreement dated October 9, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Northbrook Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000097/northbrook_psa.htm) |
| 6.80.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Northbrook dated October 19, 2023 for Arrived Series Northbrook Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000097/northbrook_assignment.htm) |
| 6.81\* | [Purchase and Sale Agreement dated September 28, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Pebblestone Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000097/pebblestone_psa.htm) |
| 6.81.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Pebblestone dated October 31, 2023 for Arrived Series Pebblestone Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000097/pebblestone_assignment.htm) |

---

---

| | |
|:---|:---|
| 6.82\* | [Purchase and Sale Agreement dated October 10, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Frances Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000100/frances_psa.htm) |
| 6.82.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Frances dated October 19, 2023 for Arrived Series Frances Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000100/frances_assignment.htm) |
| 6.83\* | [Purchase and Sale Agreement dated November 7, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Northridge Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000100/northridge_psa.htm) |
| 6.83.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Northridge dated November 21, 2023 for Arrived Series Northridge Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000100/northridge_assignment.htm) |
| 6.84\* | [Purchase and Sale Agreement dated October 31, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Rachel Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000100/rachel_psa.htm) |
| 6.84.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Rachel dated November 1, 2023 for Arrived Series Rachel Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000100/rachel_assignment.htm) |
| 6.85\* | [Purchase and Sale Agreement dated October 31, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Ross Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000100/ross_psa.htm) |
| 6.85.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Ross dated November 1, 2023 for Arrived Series Ross Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000100/ross_assignment.htm) |
| 6.86\* | [Purchase and Sale Agreement dated November 3, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Vanzant Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000100/vanzant_psa.htm) |
| 6.86.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Vanzant dated November 21, 2023 for Arrived Series Vanzant Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000100/vanzant_assignment.htm) |
| 6.87\* | [Purchase and Sale Agreement dated November 1, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Wyndhurst Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000100/wyndhurst_psa.htm) |
| 6.87.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Wyndhurst dated November 17, 2023 for Arrived Series Wyndhurst Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272323000100/wyndhurst_assignment.htm) |
| 6.88\* | [Purchase and Sale Agreement dated October 25, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Glenncrest Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000006/glenncrest_psa.htm) |
| 6.88.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Glenncrest dated November 1, 2023 for Arrived Series Glenncrest Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000006/glenncrest_assignment.htm) |
| 6.89\* | [Purchase and Sale Agreement dated December 20, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Laurel Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000006/laurel_psa.htm) |
| 6.89.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Laurel dated January 19, 2024 for Arrived Series Laurel Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000006/laurel_assignment.htm) |
| 6.90\* | [Purchase and Sale Agreement dated October 3, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Oakland Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000006/oakland_psa.htm) |
| 6.90.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Oakland dated October 19, 2023 for Arrived Series Oakland Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000006/oakland_assignment.htm) |
| 6.91\* | [Purchase and Sale Agreement dated December 11, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Phoebe Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000006/phoebe_psa.htm) |
| 6.91.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Phoebe dated December 13, 2023 for Arrived Series Phoebe Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000006/phoebe_assignment.htm) |
| 6.92\* | [Purchase and Sale Agreement dated June 14, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Johnson Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000028/johnson_psa.htm) |
| 6.92.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Johnson dated June 20, 2024 for Arrived Series Johnson Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000028/johnson_assignment.htm) |
| 6.93\* | [Purchase and Sale Agreement dated January 8, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Sedgefield Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000028/sedgefield_psa.htm) |
| 6.93.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Sedgefield dated January 22, 2024 for Arrived Series Sedgefield Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000028/sedgefield_assignment.htm) |
| 6.94\* | [Purchase and Sale Agreement dated August 28, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Robinson Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000038/robinson_psa.htm) |

---

---

| | |
|:---|:---|
| 6.94.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Robinson dated September 5, 2024 for Arrived Series Robinson Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000038/robinson_assignment.htm) |
| 6.95\* | [Purchase and Sale Agreement dated August 13, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Seneca Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000038/seneca_psa.htm) |
| 6.95.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Seneca dated August 23, 2024 for Arrived Series Seneca Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000038/seneca_assignment.htm) |
| 6.96\* | [Purchase and Sale Agreement dated October 10, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Adams Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/adams_psa.htm) |
| 6.96.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Adams dated October 28, 2024 for Arrived Series Adams Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/adams_assignment.htm) |
| 6.97\* | [Purchase and Sale Agreement dated October 18, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Bayne Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/bayne_psa.htm) |
| 6.97.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Bayne dated October 28, 2024 for Arrived Series Bayne Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/bayne_assignment.htm) |
| 6.98\* | [Purchase and Sale Agreement dated October 8, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Boxwood Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/boxwood_psa.htm) |
| 6.98.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Boxwood dated October 28, 2024 for Arrived Series Boxwood Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/boxwood_assignment.htm) |
| 6.99\* | [Purchase and Sale Agreement dated October 4, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Langley Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/langley_psa.htm) |
| 6.99.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Langley dated October 23, 2024 for Arrived Series Langley Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/langley_assignment.htm) |
| 6.100\* | [Purchase and Sale Agreement dated October 30, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Metallo Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/metallo_psa.htm) |
| 6.100.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Metallo dated November 18, 2024 for Arrived Series Metallo Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/metallo_assignment.htm) |
| 6.101\* | [Purchase and Sale Agreement dated October 15, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Misty Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/misty_psa.htm) |
| 6.101.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Misty dated October 29, 2024 for Arrived Series Misty Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/misty_assignment.htm) |
| 6.101.2\* | [Counteroffer to Offer dated October 16, 2024 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Misty Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/misty_counter.htm) |
| 6.102\* | [Purchase and Sale Agreement dated October 14, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Presidio Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/presidio_psa.htm) |
| 6.102.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Presidio dated October 28, 2024 for Arrived Series Presidio Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/presidio_assignment.htm) |
| 6.103\* | [Purchase and Sale Agreement dated October 10, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Spangler Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/spangler_psa.htm) |
| 6.103.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Spangler dated October 30, 2024 for Arrived Series Spangler Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/spangler_assignment.htm) |
| 6.104\* | [Purchase and Sale Agreement dated October 11, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Tomlinson Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/tomlinson_psa.htm) |
| 6.104.1\* | [Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Tomlinson dated October 30, 2024 for Arrived Series Tomlinson Property](https://www.sec.gov/Archives/edgar/data/1962723/000196272324000051/tomlinson_assignment.htm) |

---

\* Previously Filed

**SIGNATURES**

Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
| **ARRIVED HOMES 3, LLC** | **ARRIVED HOMES 3, LLC** | **ARRIVED HOMES 3, LLC** |
| By: | Arrived Fund Manager, LLC, its managing member | Arrived Fund Manager, LLC, its managing member |
| By: | /s/ Ryan Frazier | /s/ Ryan Frazier |
|  | Name: | Ryan Frazier |
|  | Title: Date: | Chief Executive Officer <br> September 25, 2025 |

---

Pursuant to the requirements of Regulation A, this report has been signed by the following persons on behalf of the issuer and in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **SIGNATURE** | **TITLE** | **DATE** |
| /s/ Ryan Frazier | Chief Executive Officer of Arrived Holdings, Inc. | September 25, 2025 |
| Ryan Frazier | (principal executive officer) <br> Chief Executive Officer and Director of Arrived Homes 3, LLC |  |
| /s/ Sue Korn | Principal Financial and | September 25, 2025 |
| Sue Korn | Accounting Officer of Arrived Holdings, Inc.<br> Principal Financial and Accounting Officer of Arrived Homes 3, LLC |  |
| Arrived Fund Manager, LLC | Managing Member | September 25, 2025 |

---

---

| | |
|:---|:---|
| By: | /s/ Ryan Frazier |
| Name: | Ryan Frazier |
| Title: | Chief Executive Officer |

---