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23431 McSpadon RoadPorter, TX 77365

OFFERING MEMORANDUM

DOWN HOME SQUARE

Sean Harman Kyle Fischer713.332.8213 [email protected] [email protected]

For More Information Please Contact:

15835 Park Ten Place, Suite 150 | Houston, TX 77084The information contained herein was obtained from sources believed reliable; however, Belvoir Real Estate Group, LLC. makes no guarantees, warranties orrepresentations as to the completeness or accuracy thereof. The presentation on this property is submitted subject to errors, omission, changes of price, orconditions, prior to sale or lease, or withdrawal without notice.

PROPERTY INFORMATION 3

LOCATION INFORMATION 11

FINANCIAL ANALYSIS 15

SALE COMPARABLES 17

RENT COMPARABLES 20

DEMOGRAPHICS 22

CONTENTSCONFIDENTIALITY & DISCLAIMER

TABLE OF CONTENTS

23431 McSpadon Road, Porter, TX 77365DOWN HOME SQUARE

All materials and information received or derived from Belvoir Real Estate Group, LLC itsdirectors, officers, agents, advisors, affiliates and/or any third party sources are provided withoutrepresentation or warranty as to completeness , veracity, or accuracy, condition of the property,compliance or lack of compliance with applicable governmental requirements, developability orsuitability, financial performance of the property, projected financial performance of theproperty for any party’s intended use or any and all other matters.

Neither Belvoir Real Estate Group, LLC its directors, officers, agents, advisors, or affiliates makesany representation or warranty, express or implied, as to accuracy or completeness of the anymaterials or information provided, derived, or received. Materials and information from anysource, whether written or verbal, that may be furnished for review are not a substitute for aparty’s active conduct of its own due diligence to determine these and other matters ofsignificance to such party. Belvoir Real Estate Group, LLC will not investigate or verify any suchmatters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify allinformation and to conduct their own inspections and investigations including throughappropriate third party independent professionals selected by such party. All financial datashould be verified by the party including by obtaining and reading applicable documents andreports and consulting appropriate independent professionals. Belvoir Real Estate Group, LLCmakes no warranties and/or representations regarding the veracity, completeness, or relevanceof any financial data or assumptions. Belvoir Real Estate Group, LLC does not serve as a financialadvisor to any party regarding any proposed transaction. All data and assumptions regardingfinancial performance, including that used for financial modeling purposes, may differ fromactual data or performance. Any estimates of market rents and/or projected rents that may beprovided to a party do not necessarily mean that rents can be established at or increased to thatlevel. Parties must evaluate any applicable contractual and governmental limitations as well asmarket conditions,vacancy factors and other issues in order to determine rents from or for theproperty.

Legal questions should be discussed by the party with an attorney. Tax questions should bediscussed by the party with a certified public accountant or tax attorney. Title questions shouldbe discussed by the party with a title officer or attorney. Questions regarding the condition ofthe property and whether the property complies with applicable governmental requirementsshould be discussed by the party with appropriate engineers, architects, contractors, otherconsultants and governmental agencies. All properties and services are marketed by Belvoir RealEstate Group, LLC in compliance with all applicable fair housing and equal opportunity laws.

Section 1

PROPERTYINFORMATION




Belvoir Real Estate Group is pleased to present this easy to manage, turn‐key newly constructed asset. Down Home Square Apartments provides anopportunity for an investor to take advantage of a strong rental market with low vacancy and increasing rents. The property is completely turn-keywith no deferred maintenance and is currently 100% Occupied.

PROPERTY OVERVIEW

Down Home Square is located in one of the largest growing developments in Texas! Less than 2-Miles away from a Super-Regional Hub, whichincludes national and local businesses. Area national chains include: Academy Sports & Outdoors, Cinemark Theatre, Hobby Lobby, KrogerMarketplace, and Multiple Restaurants. Multiple entertainment options, civic destinations, and a world-class amphitheater.

LOCATION OVERVIEW

PROPERTY DESCRIPTION





MASTER PLAN





COMPLEX LAYOUT





UNIT FLOOR PLANS





DEMOGRAPHICS1 MILE 5 MILES 10 MILES

Total Households 672 16,784 99,219

Total Population 2,095 48,935 296,595

Average HH Income $76,778 $77,001 $82,496

OFFERING SUMMARY

Anticipated Completion Date December 2019

Number Of Units 38

Total Size 155,945 SF

Site Acreage 3.58

Current NOI (12 Units) $154,990

Pro Forma NOI $416,425

Offering Price Negotiable

EXECUTIVE SUMMARY





SALE HIGHLIGHTS• Luxury Amenities

• New Hard Wood Floors

• Granite Counter Tops Throughout

• Includes Stove and Microwave

• Comes With Dishwasher and Refrigerator

• Washer and Dryer Connections

• Private Deck and Patio

• Two Reserved Parking Spaces

• Fenced Backyard Area

• Separately Metered Units

NEAR BY• Porter Elementary (0.21 Miles)

• White Oak Middle School (1.12 Miles)

• Porter High School (2.89 Miles)

• Lone Star College (3.03 Miles)

• Kingwood Medical Center (3.13 Miles)

COMPLETE HIGHLIGHTS





ADDITIONAL PHOTOS


Section 2

LOCATIONINFORMATION




DEMOGRAPHICS 1 MILE 5 MILES 10 MILES

Total population 2,095 48,935 296,595

Median age 31.4 32.3 33.3

Median age (Male) 31.4 31.8 32.1

Median age (Female) 31.4 32.6 34.2

Total households 672 16,784 99,219

Total persons per HH 3.1 2.9 3.0

Average HH income $76,778 $77,001 $82,496

Average house value $162,886 $148,036 $161,467

The Down Home Square Apartments are conveniently located between Kingwoodand Porter, Texas. With easy access to Interstate 69 and the growing communitiesalong Highway 99 Grand Parkway. This central location offers a reasonablecommute to Downtown Houston, as well as surrounding areas.

LOCATION OVERVIEW

LOCATION OVERVIEW





LOCATION MAP





RETAIL MAP


Section 3

FINANCIAL ANALYSIS

Number

of Units Unit Rent

Avgerage

Monthly

Yearly

Revenue

Number of

Units Unit Rent Monthly Revenue

Yearly

Revenue

12 ($1,220 - $1,265) $15,636 $187,635 32 $1,275 $40,800 $489,600

0 $0 $0 $0 6 $1,575 $9,450 $113,400

12 $15,636 $187,635 38 $50,250 $603,000

$603,000

Other Revenue $38,760

-$29,860

$611,900

$16,500

$17,275

$25,000

$15,200

$121,500

$195,475 $5,144

$416,425

$8,000,000

5.2%

$400 Per Door

2018 Tax Rate 2.8684

Tenant Pays $85 Per Month for Lawn, Trash, &

Water

Operating Costs Per Door

Net Operating Income

Total Expenses

$141,023

$49,467

Future Performance at Market Rates

Listing Price

Cap Rate

Utilities (Water, Electric & Sewer)

Taxes

Insurance

Management (Marketing, Admin, Repairs)

Maintenance (Lawn, Trash)

$24,950

$4,800

$5,500

$4,355

$9,862

Gross Scheduled Income

Adjusted Gross Income

2 Bed - 2 Bath

3 Bed - 2 Bath

Current Data

Vacancy Loss (5%)

$187,635

$12,240

-$9,385

$190,490

Current Data Future Performance

Unit

Description

2 Bed - 2 Bath

3 Bed - 2 Bath

Unit Description

Section 4

SALE COMPARABLES




SALES COMPARABLES


Section 5

RENT COMPARABLES




RENTAL INFORMATION


Section 6

DEMOGRAPHICS




POPULATION 1 MILE 5 MILES 10 MILES

Total population 2,095 48,935 296,595

Median age 31.4 32.3 33.3

Median age (Male) 31.4 31.8 32.1

Median age (Female) 31.4 32.6 34.2

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

Total households 672 16,784 99,219

# of persons per HH 3.1 2.9 3.0

Average HH income $76,778 $77,001 $82,496

Average house value $162,886 $148,036 $161,467

RACE 1 MILE 2 MILES 3 MILES

% White 81.3% 80.4% 75.3%

% Black 4.4% 7.9% 13.5%

% Asian 2.5% 2.4% 2.7%

% Hawaiian 0.0% 0.3% 0.4%

% American Indian 0.1% 0.4% 0.3%

% Other 9.9% 6.5% 5.8%

* Demographic data derived from 2010 US Census

DEMOGRAPHICS MAP & REPORT


11/2/2015Information About Brokerage Services

Texas law requires all real estate licensees to give the following information aboutbrokerage services to prospective buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS:● A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.● A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER'S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):● Put the interests of the client above all others, including the broker's own interests;● Inform the client of any material information about the property or transaction received by the broker;● Answer the client's questions and present any offer to or counter-offer from the client; and● Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner,usually in a written listing to sell or property management agreement. An owner's agent must perform the broker's minimum dutiesabove and must inform the owner of any material information about the property or transaction known by the agent, includinginformation disclosed to the agent or subagent by the buyer or buyer's agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through awritten representation agreement. A buyer's agent must perform the broker's minimum duties above and must inform the buyer of anymaterial information about the property or transaction known by the agent, including information disclosed to the agent by the seller orseller's agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the writtenagreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold orunderlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary:● Must treat all parties to the transaction impartially and fairly;● May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and

buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.● Must not, unless specifically authorized in writing to do so by the party, disclose:

○ that the owner will accept a price less than the written asking price;○ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and○ any confidential information or any other information that a party specifically instructs the broker in writing not to

disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent thebuyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:● The broker's duties and responsibilities to you, and your obligations under the representation agreement.● Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation foryou to use the broker's services. Please acknowledge receipt of this notice below and retain a copy for your records.

Licensed Broker /Broker Firm Name or License No. Email PhonePrimary Assumed Business Name

Designated Broker of Firm License No. Email Phone

Licensed Supervisor of Sales Agent/ License No. Email PhoneAssociate

Sales Agent/Associate's Name License No. Email Phone

Buyer/Tenant/Seller/Landlord Initials Date

Regulated by the Texas Real Estate Commission Information available at www.trec.texas.govIABS 1-0 Date

Phone: Fax: Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com

Belvoir Real Estate Group LLC 9001128 (713)332-8202

Matthew Goldsby 601116 [email protected] (713)332-8220

Matthew Goldsby 601116 [email protected] (713)332-8220

Sean Harman 703718 [email protected] (713)332-8213

Belvoir Real Estate Group, LLC, 15835 Park Ten Place Suite 150 Houston, TX 77084 7133328215 Sean HarmanPatrick Fischer

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