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 incorporation or organization)	(I.R.S. Employer 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	1
ITEM 2. OTHER INFORMATION	7
ITEM 3. FINANCIAL STATEMENTS	F-1
ITEM 4. EXHIBITS	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 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, 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.

1

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.

2

Operating Results

Revenues

Revenues are generated at the series level and are derived from leases on the series property. All revenues generated during the six months ended June 30, 2025 and 2024 are listed in the table below:

Rental Income
Series Name	June 30, 2025		June 30, 2024
Adams	$	12,820	$	-
Antares		11,670		11,670
Aramis		12,270		12,270
Arkoma		9,022		9,570
Arya		8,370		8,370
Aspen		13,640		7,006
Athos		12,570		12,570
Barclay		12,030		11,970
Bayne		12,600		-
Bean		12,870		12,870
Bennett		10,170		10,170
Benny		10,770		10,770
Bluebell		12,720		12,720
Bowling		9,360		9,175
Boxwood		9,278		-
Bradford		11,520		11,520
Brookwood		11,220		11,220
Bryant		12,570		12,570
Caden		9,570		10,170
Camellia		11,034		10,770
Caterpillar		8,975		10,770
Chilhowee		14,370		15,517
Claremore		9,120		8,628
Collinison		12,570		12,720
Cordero		12,270		12,439
Cristalino		15,270		10,944
Ellie		7,758		8,362
Emelina		8,227		10,470
Ethan		8,850		8,850
Frances		12,180		11,043
Glenncrest		9,975		11,771
Gordon		11,370		11,370
Haikey		10,710		10,770
Hamblen		9,381		12,570
Hancock		12,940		12,270
Hardman		14,970		15,163
Haven		8,970		6,696
Haverhill		10,081		17,845
Haybridge		6,532		8,380
Hedgecrest		11,449		6,584
Helmerich		10,052		10,770
Hermanos		13,170		9,283
Holmes		6,405		8,370
Johnson		14,520		-
Keystone		15,253		11,552
Langley		15,270		-
Laurel		13,770		10,940
Layla		13,370		11,375
Liberty		11,670		11,782
Lithonia		11,970		5,719
Lola		12,720		12,720
Lucas		6,354		12,270
Macomber		13,320		12,685
Mallard		8,725		10,470
Marcy		8,155		7,622
Meridian		11,055		11,100
Metallo		1,888		-
Misty		15,570		-
Montgomery		9,870		6,754
Northbrook		11,370		5,685
Northridge		6,780		3,899
Oakland		13,320		6,809
Palmore		8,022		8,520
Pebblestone		13,770		10,474
Perdita		11,970		11,970
Phoebe		11,790		6,720
Pongo		12,570		12,570
Portsmouth		12,978		10,770
Presidio		7,352		-
Rachel		9,985		6,795
Ratliff		12,720		8,480
Riverwood		10,573		12,240
Roanoke		14,970		17,269
Robinson		14,170		-
Ross		14,000		13,611
Sansa		8,370		8,370
Sedgefield		14,140		6,666
Seneca		13,470		-
Sheezy		11,200		10,920
Sherwood		8,370		8,370
Spangler		7,041		-
Summerglen		10,770		10,770
Tansel		10,927		14,370
Thomas		7,180		10,968
Tomlinson		5,880		-
Tytus		12,270		12,270
Vanzant		13,470		10,552
Watson		8,370		8,370
Westhaven		11,520		14,140
Wheeler		10,291		9,894
Williamson		11,135		11,100
Woodland		7,770		7,770
Woodwind		4,466		10,157
Wynde		11,820		11,745
Wyndhurst		5,798		11,970
Zane		7,650		7,650
	$	1,043,396	$	883,815

3

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:

Operating Expenses
	June 30, 2025						June 30, 2024
Series Name	Operating Expenses		Depreciation		Total Expenses		Operating Expenses		Depreciation		Total Expenses
Adams	$	10,228	$	4,197	$	14,425	$	-	$	-	$	-
Antares		5,131		4,257		9,388		5,524		4,257		9,781
Aramis		6,271		4,123		10,394		7,150		4,123		11,273
Arkoma		4,859		3,245		8,103		3,935		3,245		7,179
Arya		3,512		2,466		5,979		5,073		2,466		7,539
Aspen		5,358		3,679		9,037		11,028		3,679		14,707
Athos		8,647		4,578		13,225		8,405		4,578		12,983
Barclay		5,234		4,208		9,442		6,795		4,208		11,003
Bayne		10,683		4,807		15,490		-		-		-
Bean		6,310		4,029		10,338		8,053		4,029		12,082
Bennett		3,866		2,910		6,776		5,297		2,910		8,207
Benny		6,788		3,503		10,291		6,721		3,503		10,224
Bluebell		5,782		4,108		9,889		5,521		4,108		9,628
Bowling		4,417		2,862		7,279		4,009		2,862		6,871
Boxwood		11,686		4,420		16,106		-		-		-
Bradford		5,086		4,180		9,267		5,286		4,180		9,467
Brookwood		5,510		3,854		9,363		5,418		3,854		9,271
Bryant		8,268		4,392		12,660		7,170		4,392		11,562
Caden		6,098		3,437		9,536		10,344		3,437		13,782
Camellia		5,696		4,811		10,507		6,445		4,811		11,255
Caterpillar		11,956		4,124		16,080		6,825		4,124		10,949
Chilhowee		6,299		4,471		10,770		5,035		4,471		9,505
Claremore		4,946		3,232		8,178		7,204		3,232		10,437
Collinison		7,807		4,666		12,472		6,399		4,152		10,551
Cordero		5,542		3,860		9,402		5,168		3,860		9,028
Cristalino		6,652		4,225		10,877		15,905		4,225		20,130
Ellie		15,475		3,948		19,423		8,316		3,948		12,264
Emelina		6,231		4,121		10,352		5,291		4,121		9,412
Ethan		5,187		4,147		9,334		7,721		3,277		10,998
Frances		4,241		3,837		8,079		8,396		3,198		11,594
Glenncrest		4,870		3,991		8,861		7,615		3,991		11,606
Gordon		6,286		3,512		9,798		5,771		3,512		9,284
Haikey		6,398		3,368		9,765		5,041		3,368		8,408
Hamblen		8,027		3,527		11,553		4,061		3,527		7,588
Hancock		6,623		4,227		10,849		5,649		4,227		9,876
Hardman		7,389		5,326		12,715		7,401		5,326		12,727
Haven		3,711		2,549		6,260		3,545		2,549		6,094
Haverhill		5,629		3,225		8,853		5,493		3,225		8,718
Haybridge		7,438		4,931		12,369		6,227		4,931		11,158
Hedgecrest		751		5,336		6,086		7,123		4,931		12,054
Helmerich		5,078		3,462		8,541		4,327		3,462		7,789
Hermanos		6,413		5,914		12,327		8,092		5,914		14,006
Holmes		11,565		2,419		13,985		2,674		2,419		5,093
Johnson		6,291		4,510		10,801		3,430		-		3,430
Keystone		6,590		4,784		11,375		7,910		3,987		11,897
Langley		13,156		4,559		17,715		-		-		-
Laurel		5,818		4,631		10,448		12,183		3,087		15,270
Layla		6,924		4,453		11,377		11,213		4,453		15,666
Liberty		6,970		5,545		12,515		11,041		4,170		15,211
Lithonia		7,257		4,963		12,221		20,558		4,426		24,984
Lola		6,842		4,144		10,987		6,301		4,144		10,445
Lucas		11,667		4,070		15,737		6,970		3,503		10,473
Macomber		7,989		4,286		12,274		8,554		4,286		12,840
Mallard		3,138		2,862		6,000		7,511		2,862		10,373
Marcy		4,502		2,466		6,968		5,952		2,466		8,418
Meridian		5,574		4,492		10,065		7,403		4,206		11,609
Metallo		13,168		3,340		16,508		-		-		-
Misty		7,487		4,723		12,210		-		-		-
Montgomery		4,331		4,173		8,504		11,688		3,267		14,956
Northbrook		5,714		3,872		9,586		6,976		3,872		10,848
Northridge		5,149		3,535		8,684		9,073		2,946		12,019
Oakland		5,321		4,222		9,543		6,558		4,222		10,780
Palmore		7,323		3,455		10,779		7,558		3,455		11,013
Pebblestone		7,700		4,642		12,342		7,789		3,868		11,657
Perdita		5,403		4,560		9,963		5,694		4,560		10,254
Phoebe		6,437		3,818		10,255		10,631		3,182		13,813
Pongo		5,451		4,560		10,011		6,743		4,560		11,303
Portsmouth		5,837		3,331		9,169		5,257		2,932		8,189
Presidio		9,751		3,288		13,039		-		-		-
Rachel		6,804		3,972		10,775		10,116		3,972		14,087
Ratliff		5,668		4,394		10,062		10,411		4,394		14,805
Riverwood		6,721		5,020		11,741		5,403		5,020		10,424
Roanoke		6,128		4,604		10,732		4,307		4,604		8,911
Robinson		6,532		4,409		10,942		-		-		-
Ross		6,691		4,582		11,273		9,402		4,582		13,984
Sansa		3,934		2,466		6,401		3,550		2,466		6,016
Sedgefield		6,390		4,014		10,403		8,727		2,007		10,734
Seneca		6,955		4,057		11,012		-		-		-
Sheezy		5,815		3,215		9,031		6,556		3,215		9,772
Sherwood		4,215		2,398		6,613		2,779		2,398		5,178
Spangler		13,352		5,872		19,224		-		-		-
Summerglen		5,577		3,330		8,908		4,383		3,330		7,713
Tansel		9,885		4,476		14,361		8,640		4,476		13,116
Thomas		9,690		3,015		12,705		5,032		3,015		8,046
Tomlinson		24,980		3,332		28,312		-		-		-
Tytus		4,893		3,579		8,472		5,071		3,579		8,650
Vanzant		7,861		4,862		12,723		14,915		4,052		18,967
Watson		3,271		2,419		5,691		2,435		2,419		4,855
Westhaven		5,619		3,508		9,127		9,444		3,508		12,952
Wheeler		3,877		2,864		6,742		3,783		2,864		6,648
Williamson		29,099		3,940		33,039		4,039		3,940		7,979
Woodland		3,138		2,927		6,065		3,357		2,927		6,284
Woodwind		9,557		3,504		13,062		9,271		3,504		12,775
Wynde		4,684		4,024		8,708		6,146		4,024		10,170
Wyndhurst		6,881		4,257		11,138		11,039		4,257		15,296
Zane		3,734		2,241		5,974		3,338		2,241		5,578
	$	677,684	$	379,050	$	1,056,734	$	600,592	$	313,879	$	914,471

4

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
Series Name	June 30, 2025			June 30, 2024
Adams	$	540		$	-
Antares		-			-
Aramis		-			-
Arkoma		-			-
Arya		164			-
Aspen		-			-
Athos		-			-
Barclay		-			-
Bayne		2,260			-
Bean		-			-
Bennett		-			-
Benny		-			-
Bluebell		-			-
Bowling		-			-
Boxwood		3,080			-
Bradford		-			-
Brookwood		-			-
Bryant		-			-
Caden		206			-
Camellia		-			-
Caterpillar		-			-
Chilhowee		-			-
Claremore		-			-
Collinison		-			-
Cordero		-			-
Cristalino		630			-
Ellie		-			-
Emelina		-			-
Ethan		488			-
Frances		-			-
Glenncrest		-			6,314
Gordon		-			-
Haikey		-			-
Hamblen		-			-
Hancock		-			-
Hardman		-			-
Haven		182			-
Haverhill		-			-
Haybridge		-			-
Hedgecrest		-			-
Helmerich		-			-
Hermanos		245			-
Holmes		-			-
Johnson		-			191
Keystone		-			-
Langley		663			-
Laurel		-			7,746
Layla		-			-
Liberty		300			-
Lithonia		911			-
Lola		-			-
Lucas		-			-
Macomber		-			-
Mallard		-			-
Marcy		-			-
Meridian		-			-
Metallo		1,657			-
Misty		-			-
Montgomery		401			(6,998	)
Northbrook		-			-
Northridge		-			-
Oakland		-			7,656
Palmore		-			-
Pebblestone		-			-
Perdita		-			-
Phoebe		-			6,011
Pongo		-			-
Portsmouth		-			-
Presidio		2,576			-
Rachel		-			-
Ratliff		-			-
Riverwood		-			-
Roanoke		-			-
Robinson		-			-
Ross		-			-
Sansa		-			-
Sedgefield		-			7,917
Seneca		-			-
Sheezy		-			-
Sherwood		-			-
Spangler		2,489			-
Summerglen		-			-
Tansel		-			-
Thomas		-			-
Tomlinson		4,156			-
Tytus		-			-
Vanzant		-			-
Watson		-			-
Westhaven		-			-
Wheeler		-			-
Williamson		(15,391	)		-
Woodland		-			-
Woodwind		-			-
Wynde		185			-
Wyndhurst		-			-
Zane		-			-
	$	5,742		$	28,836

5

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
Series Name	June 30, 2025		June 30, 2024
Adams	$	17,485	$	-
Antares		12,843		16,623
Aramis		8,663		12,427
Arkoma		22,286		26,145
Arya		4,524		11,256
Aspen		7,133		4,018
Athos		6,895		15,432
Barclay		23,559		28,936
Bayne		22,002		-
Bean		10,145		16,857
Bennett		7,979		10,194
Benny		5,584		8,409
Bluebell		20,269		27,013
Bowling		5,722		8,379
Boxwood		17,621		-
Bradford		22,529		28,340
Brookwood		6,645		9,487
Bryant		6,253		11,258
Caden		2,454		10,466
Camellia		6,634		11,257
Caterpillar		15,159		19,917
Chilhowee		11,197		23,015
Claremore		1,938		12,906
Collinison		15,151		23,438
Cordero		13,669		20,558
Cristalino		9,990		9,728
Ellie		3,741		12,958
Emelina		1,822		3,234
Ethan		3,999		3,849
Frances		15,668		20,960
Glenncrest		19,188		18,419
Gordon		13,990		19,530
Haikey		11,577		17,920
Hamblen		9,320		16,077
Hancock		5,940		7,963
Hardman		15,178		21,325
Haven		4,082		9
Haverhill		7,446		11,998
Haybridge		17,072		23,442
Hedgecrest		15,764		23,414
Helmerich		16,497		21,581
Hermanos		7,655		1,278
Holmes		6,909		14,736
Johnson		21,227		-
Keystone		12,406		18,897
Langley		14,109		-
Laurel		21,939		24,092
Layla		10,680		17,971
Liberty		5,048		11,891
Lithonia		8,548		9,279
Lola		15,236		22,569
Lucas		7,266		21,369
Macomber		8,750		15,211
Mallard		12,876		17,842
Marcy		8,616		13,554
Meridian		5,068		7,621
Metallo		14,755		-
Misty		24,349		-
Montgomery		6,446		12,440
Northbrook		13,717		17,710
Northridge		16,869		27,043
Oakland		15,870		3,348
Palmore		621		2,819
Pebblestone		10,139		17,509
Perdita		20,443		25,798
Phoebe		13,488		19,821
Pongo		23,159		27,673
Portsmouth		5,760		12,100
Presidio		11,816		-
Rachel		10,817		20,240
Ratliff		11,584		16,857
Riverwood		6,820		12,535
Roanoke		16,273		27,081
Robinson		27,059		-
Ross		18,665		26,242
Sansa		11,900		15,349
Sedgefield		30,074		-
Seneca		22,344		-
Sheezy		12,165		17,951
Sherwood		7,321		11,038
Spangler		17,837		-
Summerglen		7,743		10,554
Tansel		5,580		9,201
Thomas		4,986		13,481
Tomlinson		5,054		-
Tytus		16,294		23,066
Vanzant		12,798		17,827
Watson		13,357		16,109
Westhaven		4,451		13,708
Wheeler		14,353		17,896
Williamson		8,250		24,323
Woodland		4,572		5,938
Woodwind		2,277		5,690
Wynde		6,294		346
Wyndhurst		19,438		25,252
Zane		14,652		20,105
	$	1,142,331	$	1,302,096

6

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.

7

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-2
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2024 (DERIVED FROM AUDITED FINANCIAL STATEMENTS)	F-13
CONSOLIDATED AND CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) FOR THE SIX MONTHS ENDED JUNE 30, 2025 (UNAUDITED)	F-24
CONSOLIDATED AND CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) FOR THE SIX MONTHS ENDED JUNE 30, 2024 (UNAUDITED)	F-35
CONSOLIDATED AND CONSOLIDATING STATEMENTS OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) FOR THE SIX MONTHS ENDED JUNE 30, 2025 (UNAUDITED)	F-45
CONSOLIDATED AND CONSOLIDATING STATEMENTS OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) FOR THE SIX MONTHS ENDED JUNE 30, 2024 (UNAUDITED)	F-56
CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2025 (UNAUDITED)	F-66
CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2024 (UNAUDITED)	F-77
NOTES TO CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS	F-87

F-1

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:
Cash	$	17,485		$	12,843		$	8,663		$	22,286	$	4,524		$	7,133		$	6,895		$	23,559	$	22,002
Prepaid expenses		-			104			101			82		-			234			101			102		-
Due from related party		-			-			-			-		-			-			-			-		-
Due from third party property manager		3,984			4,426			5,646			2,181		2,720			3,851			4,400			1,885		5,238
Total current assets		21,469			17,373			14,409			24,549		7,244			11,217			11,396			25,546		27,240
Property and equipment, net		302,632			295,138			285,866			224,426		173,065			253,848			280,783			291,051		346,480
Total assets	$	324,101		$	312,510		$	300,275		$	248,975	$	180,309		$	265,065		$	292,179		$	316,597	$	373,720
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses	$	2,929		$	2,828		$	3,047		$	2,654	$	1,897		$	2,549		$	4,614		$	2,461	$	3,209
Due to (from) related parties		1,315			3,421			3,479			2,738		2,077			4,235			3,378			3,554		1,302
Due to third party property manager		-			-			-			-		-			-			-			-		-
Total current liabilities		4,243			6,250			6,527			5,392		3,974			6,784			7,992			6,015		4,511
Tenant deposits		2,595			2,395			3,790			1,595		1,395			1,795			4,190			-		2,745
Operational notes, related party		-			-			-			-		6,000			-			-			-		-
Total liabilities		6,838			8,645			10,317			6,987		11,369			8,579			12,182			6,015		7,256
Members’ equity:
Members’ capital		330,509			314,798			306,212			237,796		190,950			271,762			299,417			303,691		379,736
Retained earnings (accumulated deficit)		(13,247	)		(10,932	)		(16,254	)		4,192		(22,010	)		(15,276	)		(19,420	)		6,892		(13,272	)
Total members’ equity		317,263			303,866			289,958			241,988		168,940			256,486			279,997			310,583		366,464
Total liabilities and members’ equity	$	324,101		$	312,510		$	300,275		$	248,975	$	180,309		$	265,065		$	292,179		$	316,597	$	373,720

F-2

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:
Cash	$	10,145		$	7,979	$	5,584		$	20,269	$	5,722	$	17,621		$	22,529		$	6,645		$	6,253
Prepaid expenses		-			196		952			101		769		-			102			257			95
Due from related party		-			-		-			-		-		2,646			-			-			-
Due from third party property manager		4,179			3,583		3,549			4,305		2,119		6,417			3,929			3,847			4,129
Total current assets		14,325			11,757		10,084			24,675		8,610		26,685			26,560			10,749			10,476
Property and equipment, net		282,009			200,792		241,707			284,796		196,996		319,930			289,244			265,908			269,218
Total assets	$	296,334		$	212,549	$	251,792		$	309,471	$	205,606	$	346,615		$	315,804		$	276,657		$	279,694
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses	$	3,024		$	1,931	$	3,342		$	3,622	$	2,026	$	3,570		$	2,470		$	3,034		$	4,409
Due to (from) related parties		3,411			3,161		3,752			3,485		3,212		-			3,522			4,097			3,972
Due to third party property manager		-			-		-			-		-		-			-			-			-
Total current liabilities		6,435			5,092		7,094			7,107		5,237		3,570			5,992			7,131			8,381
Tenant deposits		2,145			1,695		1,795			2,345		-		4,390			2,145			1,795			2,095
Operational notes, related party		-			-		-			-		-		-			-			-			-
Total liabilities		8,580			6,787		8,889			9,452		5,237		7,960			8,137			8,926			10,476
Members’ equity:
Members’ capital		291,287			202,832		255,151			297,838		197,764		354,020			309,519			272,415			276,594
Retained earnings (accumulated deficit)		(3,533	)		2,931		(12,248	)		2,181		2,604		(15,366	)		(1,852	)		(4,685	)		(7,376	)
Total members’ equity		287,754			205,763		242,903			300,018		200,369		338,655			307,667			267,730			269,218
Total liabilities and members’ equity	$	296,334		$	212,549	$	251,792		$	309,471	$	205,606	$	346,615		$	315,804		$	276,657		$	279,694

F-3

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:
Cash	$	2,454		$	6,634		$	15,159		$	11,197		$	1,938		$	15,151		$	13,669		$	9,990		$	3,741
Prepaid expenses		607			258			-			673			79			-			161			384			-
Due from related party		-			-			-			-			-			-			-			-			-
Due from third party property manager		3,719			4,079			-			4,628			3,172			4,207			4,431			5,170			1,587
Total current assets		6,780			10,971			15,159			16,498			5,189			19,358			18,262			15,544			5,327
Property and equipment, net		236,607			248,899			285,919			305,234			223,563			295,759			259,810			290,830			276,385
Total assets	$	243,387		$	259,870		$	301,078		$	321,732		$	228,752		$	315,117		$	278,072		$	306,374		$	281,712
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses	$	1,950		$	2,920		$	4,217		$	1,830		$	2,657		$	2,215		$	2,832		$	3,830		$	3,339
Due to (from) related parties		3,793			3,757			3,422			4,891			3,336			3,042			3,644			4,554			10,332
Due to third party property manager		-			-			1,368			-			-			-			-			-			-
Total current liabilities		5,743			6,677			9,006			6,722			5,993			5,258			6,477			8,385			13,671
Tenant deposits		2,393			1,795			1,795			2,395			1,745			2,095			2,495			2,995			-
Operational notes, related party		5,500			-			-			-			-			-			-			16,800			-
Total liabilities		13,636			8,472			10,801			9,117			7,738			7,353			8,972			28,180			13,671
Members’ equity:
Members’ capital		254,519			252,712			318,935			312,686			240,109			310,694			273,754			320,502			301,697
Retained earnings (accumulated deficit)		(24,768	)		(1,313	)		(28,659	)		(70	)		(19,095	)		(2,930	)		(4,654	)		(42,308	)		(33,655	)
Total members’ equity		229,751			251,399			290,276			312,616			221,014			307,764			269,100			278,194			268,041
Total liabilities and members’ equity	$	243,387		$	259,870		$	301,078		$	321,732		$	228,752		$	315,117		$	278,072		$	306,374		$	281,712

F-4

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:
Cash	$	1,822		$	3,999		$	15,668	$	19,188		$	13,990		$	11,577		$	9,320		$	5,940		$	15,178
Prepaid expenses		261			138			-		-			176			-			635			93			-
Due from related party		-			-			-		-			-			-			-			-			-
Due from third party property manager		1,595			2,822			4,149		3,620			3,562			3,295			2,045			2,897			4,724
Total current assets		3,678			6,959			19,818		22,807			17,729			14,872			12,000			8,930			19,902
Property and equipment, net		239,626			194,782			269,675		280,036			242,922			233,485			243,339			259,669			374,580
Total assets	$	243,304		$	201,741		$	289,492	$	302,843		$	260,651		$	248,357		$	255,338		$	268,599		$	394,483
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses	$	2,598		$	2,318		$	1,859	$	2,160		$	2,792		$	3,161		$	2,278		$	2,922		$	3,055
Due to (from) related parties		3,809			2,793			2,834		2,121			2,995			3,484			3,577			3,974			3,853
Due to third party property manager		-			-			-		-			-			-			-			-			-
Total current liabilities		6,407			5,111			4,693		4,281			5,786			6,646			5,855			6,897			6,908
Tenant deposits		-			1,475			2,245		3,990			1,895			1,795			2,095			2,045			2,495
Operational notes, related party		-			13,000			-		-			-			-			-			-			-
Total liabilities		6,407			19,586			6,938		8,271			7,681			8,441			7,950			8,942			9,403
Members’ equity:
Members’ capital		246,886			201,830			276,307		298,148			257,678			240,492			249,004			267,654			383,904
Retained earnings (accumulated deficit)		(9,990	)		(19,676	)		6,247		(3,576	)		(4,708	)		(576	)		(1,616	)		(7,996	)		1,175
Total members’ equity		236,897			182,155			282,554		294,572			252,970			239,916			247,388			259,658			385,080
Total liabilities and members’ equity	$	243,304		$	201,741		$	289,492	$	302,843		$	260,651		$	248,357		$	255,338		$	268,599		$	394,483

F-5

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:
Cash	$	4,082		$	7,446		$	17,072		$	15,764		$	16,497	$	7,655		$	6,909		$	21,227		$	12,406
Prepaid expenses		882			257			-			-			84		1,320			110			-			-
Due from related party		-			-			-			-			-		-			-			-			-
Due from third party property manager		2,260			1,935			5,805			3,467			3,134		5,325			-			5,023			5,060
Total current assets		7,224			9,637			22,877			19,231			19,714		14,299			7,019			26,250			17,466
Property and equipment, net		175,457			222,495			345,979			351,647			239,483		300,414			166,927			321,313			336,279
Total assets	$	182,681		$	232,132		$	368,856		$	370,878		$	259,197	$	314,713		$	173,946		$	347,563		$	353,745
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses	$	1,661		$	3,018		$	2,581		$	2,571		$	2,759	$	3,954		$	1,783		$	2,708		$	2,871
Due to (from) related parties		2,875			3,403			3,565			3,524			3,558		4,671			2,528			2,218			3,510
Due to third party property manager		-			-			-			-			-		-			1,324			-			-
Total current liabilities		4,536			6,421			6,146			6,094			6,317		8,624			5,635			4,927			6,381
Tenant deposits		1,495			1,745			3,990			1,995			2,095		3,293			-			2,645			2,295
Operational notes, related party		5,700			-			-			-			-		7,700			-			-			-
Total liabilities		11,731			8,166			10,136			8,089			8,412		19,617			5,635			7,572			8,676
Members’ equity:
Members’ capital		183,315			234,216			372,108			371,094			249,455		315,790			173,140			344,323			344,409
Retained earnings (accumulated deficit)		(12,365	)		(10,250	)		(13,389	)		(8,305	)		1,330		(20,693	)		(4,829	)		(4,332	)		659
Total members’ equity		170,950			223,966			358,719			362,789			250,785		295,096			168,312			339,991			345,069
Total liabilities and members’ equity	$	182,681		$	232,132		$	368,856		$	370,878		$	259,197	$	314,713		$	173,946		$	347,563		$	353,745

F-6

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:
Cash	$	14,109		$	21,939		$	10,680		$	5,048		$	8,548		$	15,236	$	7,266		$	8,750		$	12,876
Prepaid expenses		-			-			-			86			260			-		87			94			123
Due from related party		-			-			-			-			-			-		-			-			-
Due from third party property manager		5,425			4,628			4,867			4,296			6,335			4,364		3,664			4,574			2,569
Total current assets		19,534			26,567			15,547			9,430			15,142			19,600		11,017			13,418			15,567
Property and equipment, net		329,953			326,144			313,189			253,661			276,380			291,473		246,245			265,120			197,941
Total assets	$	349,486		$	352,711		$	328,737		$	263,091		$	291,522		$	311,073	$	257,262		$	278,537		$	213,508
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses	$	1,208		$	3,077		$	2,356		$	3,910		$	3,435		$	2,175	$	4,217		$	4,420		$	2,043
Due to (from) related parties		3,550			2,594			3,582			2,946			4,137			3,347		2,999			3,231			2,420
Due to third party property manager		-			-			-			-			-			-		-			-			-
Total current liabilities		4,758			5,671			5,938			6,857			7,572			5,522		7,216			7,651			4,463
Tenant deposits		2,995			2,295			2,695			2,395			3,990			2,345		2,395			2,445			2,195
Operational notes, related party		-			-			-			8,000			24,300			-		-			-			-
Total liabilities		7,753			7,966			8,633			17,252			35,862			7,867		9,611			10,096			6,658
Members’ equity:
Members’ capital		358,289			348,795			325,403			259,028			294,095			302,168		264,335			279,299			205,479
Retained earnings (accumulated deficit)		(16,556	)		(4,049	)		(5,299	)		(13,188	)		(38,435	)		1,038		(16,684	)		(10,857	)		1,371
Total members’ equity		341,734			344,745			320,104			245,840			255,660			303,206		247,651			268,442			206,851
Total liabilities and members’ equity	$	349,486		$	352,711		$	328,737		$	263,091		$	291,522		$	311,073	$	257,262		$	278,537		$	213,508

F-7

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:
Cash	$	8,616		$	5,068		$	14,755		$	24,349		$	6,446		$	13,717		$	16,869		$	15,870		$	621
Prepaid expenses		-			181			-			-			129			-			-			-			2,101
Due from related party		-			-			-			-			-			-			-			-			-
Due from third party property manager		3,396			3,568			-			7,760			3,980			3,901			2,150			4,586			1,461
Total current assets		12,012			8,817			14,755			32,109			10,555			17,618			19,019			20,456			4,182
Property and equipment, net		173,065			257,644			291,842			341,269			204,611			272,321			251,896			296,240			194,397
Total assets	$	185,077		$	266,461		$	306,597		$	373,378		$	215,166		$	289,940		$	270,915		$	316,696		$	198,579
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses	$	2,113		$	2,295		$	3,040		$	3,262		$	2,374		$	3,375		$	2,763		$	2,073		$	1,535
Due to (from) related parties		2,080			3,096			1,260			1,646			3,065			2,855			2,665			2,185			2,985
Due to third party property manager		-			-			1,617			-			-			-			-			-			-
Total current liabilities		4,193			5,391			5,918			4,908			5,439			6,231			5,428			4,258			4,521
Tenant deposits		2,690			1,850			-			5,190			2,468			1,895			2,543			2,445			1,645
Operational notes, related party		-			-			-			-			10,700			-			-			-			-
Total liabilities		6,883			7,241			5,918			10,098			18,606			8,126			7,970			6,703			6,166
Members’ equity:
Members’ capital		185,148			269,493			324,636			370,084			215,895			289,663			277,914			320,092			203,876
Retained earnings (accumulated deficit)		(6,954	)		(10,274	)		(23,956	)		(6,803	)		(19,335	)		(7,850	)		(14,970	)		(10,100	)		(11,463	)
Total members’ equity		178,194			259,219			300,680			363,280			196,559			281,814			262,945			309,993			192,413
Total liabilities and members’ equity	$	185,077		$	266,461		$	306,597		$	373,378		$	215,166		$	289,940		$	270,915		$	316,696		$	198,579

F-8

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:
Cash	$	10,139		$	20,443		$	13,488		$	23,159	$	5,760		$	11,816		$	10,817		$	11,584		$	6,820
Prepaid expenses		-			110			-			110		134			-			-			-			98
Due from related party		-			-			-			-		-			-			-			-			-
Due from third party property manager		5,034			3,920			4,023			5,168		5,174			3,336			3,862			3,732			4,326
Total current assets		15,173			24,473			17,511			28,436		11,068			15,152			14,679			15,315			11,243
Property and equipment, net		326,257			315,427			268,210			315,427		207,909			238,037			279,340			308,330			279,970
Total assets	$	341,430		$	339,900		$	285,721		$	343,863	$	218,977		$	253,190		$	294,019		$	323,645		$	291,214
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses	$	2,889		$	2,578		$	2,187		$	2,578	$	2,355		$	2,439		$	1,360		$	1,693		$	3,467
Due to (from) related parties		3,377			3,817			2,121			3,825		3,345			6,068			2,923			3,527			3,434
Due to third party property manager		-			-			-			-		-			-			-			-			-
Total current liabilities		6,266			6,394			4,308			6,402		5,700			8,506			4,283			5,220			6,901
Tenant deposits		2,795			1,995			2,145			3,143		2,693			1,745			1,995			2,345			1,995
Operational notes, related party		-			-			-			-		-			-			-			-			-
Total liabilities		9,061			8,389			6,453			9,545		8,393			10,251			6,278			7,565			8,896
Members’ equity:
Members’ capital		333,470			335,353			289,323			333,557		211,719			267,321			294,748			322,877			303,050
Retained earnings (accumulated deficit)		(1,102	)		(3,842	)		(10,055	)		761		(1,134	)		(24,383	)		(7,007	)		(6,797	)		(20,732	)
Total members’ equity		332,369			331,511			279,268			334,318		210,585			242,939			287,741			316,080			282,318
Total liabilities and members’ equity	$	341,430		$	339,900		$	285,721		$	343,863	$	218,977		$	253,190		$	294,019		$	323,645		$	291,214

F-9

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:
Cash	$	16,273	$	27,059		$	18,665	$	11,900		$	30,074		$	22,344		$	12,165	$	7,321		$	17,837
Prepaid expenses		1,425		-			-		-			-			-			181		64			-
Due from related party		-		-			-		-			-			-			-		-			-
Due from third party property manager		5,038		4,863			4,770		2,701			5,182			4,536			3,759		1,931			2,596
Total current assets		22,735		31,922			23,435		14,601			35,256			26,880			16,105		9,316			20,433
Property and equipment, net		319,177		318,365			322,274		173,065			286,437			291,461			219,547		165,872			384,216
Total assets	$	341,912	$	350,287		$	345,710	$	187,666		$	321,693		$	318,341		$	235,652	$	175,188		$	404,649
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses	$	-	$	3,039		$	2,102	$	2,244		$	2,654		$	2,928		$	2,452	$	1,767		$	3,457
Due to (from) related parties		3,883		1,712			3,355		2,067			2,048			1,738			3,579		2,115			1,390
Due to third party property manager		-		-			-		-			-			-			-		-			-
Total current liabilities		3,883		4,751			5,458		4,311			4,702			4,666			6,031		3,881			4,846
Tenant deposits		2,495		2,595			2,545		1,395			3,243			2,695			2,045		1,395			-
Operational notes, related party		-		-			-		-			-			-			-		-			-
Total liabilities		6,378		7,346			8,003		5,706			7,945			7,361			8,076		5,276			4,846
Members’ equity:
Members’ capital		332,555		347,939			333,921		182,833			324,963			316,878			220,316		179,890			424,786
Retained earnings (accumulated deficit)		2,979		(4,998	)		3,786		(873	)		(11,215	)		(5,897	)		7,260		(9,979	)		(24,984	)
Total members’ equity		335,535		342,942			337,707		181,960			313,748			310,980			227,576		169,911			399,803
Total liabilities and members’ equity	$	341,912	$	350,287		$	345,710	$	187,666		$	321,693		$	318,341		$	235,652	$	175,188		$	404,649

F-10

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:
Cash	$	7,743		$	5,580		$	4,986		$	5,054		$	16,294	$	12,798		$	13,357	$	4,451		$	14,353
Prepaid expenses		149			110			203			-			89		-			110		158			129
Due from related party		-			-			-			-			-		-			-		-			-
Due from third party property manager		4,179			1,729			1,815			3,939			4,370		4,001			2,710		4,086			3,610
Total current assets		12,071			7,419			7,004			8,993			20,753		16,799			16,178		8,695			18,093
Property and equipment, net		229,797			309,567			208,028			241,168			247,555		342,390			166,927		242,072			197,635
Total assets	$	241,868		$	316,987		$	215,032		$	250,161		$	268,307	$	359,189		$	183,105	$	250,766		$	215,727
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses	$	2,752		$	3,193		$	2,232		$	2,589		$	3,189	$	4,902		$	1,783	$	3,189		$	2,026
Due to (from) related parties		3,575			3,778			3,575			865			3,059		3,540			2,569		3,762			3,033
Due to third party property manager		-			-			-			-			-		-			-		-			-
Total current liabilities		6,326			6,971			5,807			3,455			6,249		8,442			4,352		6,951			5,059
Tenant deposits		1,795			-			1,795			2,250			2,495		2,695			1,395		2,145			1,649
Operational notes, related party		-			-			-			-			-		-			-		-			-
Total liabilities		8,121			6,971			7,602			5,705			8,744		11,137			5,747		9,096			6,708
Members’ equity:
Members’ capital		235,765			336,079			210,273			275,872			256,998		357,090			173,953		253,341			200,633
Retained earnings (accumulated deficit)		(2,018	)		(26,063	)		(2,842	)		(31,415	)		2,566		(9,039	)		3,406		(11,671	)		8,386
Total members’ equity		233,747			310,016			207,430			244,456			259,564		348,052			177,358		241,670			209,019
Total liabilities and members’ equity	$	241,868		$	316,987		$	215,032		$	250,161		$	268,307	$	359,189		$	183,105	$	250,766		$	215,727

F-11

ARRIVED HOMES 3, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

																		Total
	Williamson			Woodland			Woodwind			Wynde			Wyndhurst			Zane		Consolidated
ASSETS
Current assets:
Cash	$	8,250		$	4,572		$	2,277		$	6,294		$	19,438		$	14,652	$	1,142,331
Prepaid expenses		1,410			84			234			86			-			60		17,320
Due from related party		-			-			-			-			-			-		2,646
Due from third party property manager		3,716			2,322			1,889			4,739			3,350			2,384		356,410
Total current assets		13,377			6,977			4,400			11,119			22,788			17,096		1,518,708
Property and equipment, net		273,179			156,612			241,789			241,252			299,406			155,356		25,380,445
Total assets	$	286,556		$	163,589		$	246,189		$	252,371		$	322,194		$	172,452	$	26,899,153
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses	$	-		$	1,896		$	2,368		$	2,940		$	1,964		$	1,955	$	255,288
Due to (from) related parties		3,228			1,949			6,988			3,573			3,108			1,898		307,645
Due to third party property manager		-			-			-			-			-			-		4,309
Total current liabilities		3,228			3,845			9,356			6,513			5,072			3,853		567,243
Tenant deposits		3,543			1,295			-			2,645			1,745			1,275		204,654
Operational notes, related party		-			-			-			5,800			-			-		103,500
Total liabilities		6,771			5,140			9,356			14,958			6,817			5,128		875,397
Members’ equity:
Members’ capital		281,412			165,075			254,523			251,199			324,911			165,800		26,879,764
Retained earnings (accumulated deficit)		(1,627	)		(6,626	)		(17,691	)		(13,786	)		(9,534	)		1,524		(856,008	)
Total members’ equity		279,785			158,449			236,833			237,413			315,377			167,325		26,023,756
Total liabilities and members’ equity	$	286,556		$	163,589		$	246,189		$	252,371		$	322,194		$	172,452	$	26,899,153

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

F-12

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:
Cash	$	-		$	12,203		$	7,204		$	23,313	$	2,277		$	3,249		$	9,313		$	24,025	$	-
Prepaid expenses		-			499			551			438		277			633			1,623			465		-
Due from related parties		-			-			-			-		-			-			-			-		-
Due from (to) third party property manager		548			4,379			5,453			2,770		2,766			3,778			3,173			1,925		-
Total current assets		548			17,082			13,209			26,522		5,320			7,660			14,110			26,415		-
Property and equipment, net		306,829			299,395			289,989			227,671		175,531			257,527			285,361			295,259		351,287
Total assets	$	307,377		$	316,476		$	303,197		$	254,193	$	180,851		$	265,187		$	299,471		$	321,674	$	351,287
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses		4,871			3,092			2,964			3,796		2,375			2,399			8,074			3,518		4,831
Tenant deposits		2,345			2,395			3,790			1,595		1,395			1,795			4,190			-		-
Bridge financing, related party		288,000			-			-			-		-			-			-			-		328,683
Due to (from) related parties		20,263			2,341			2,437			1,893		6,278			4,610			1,505			2,453		25,894
Total current liabilities		315,479			7,828			9,191			7,284		10,048			8,804			13,770			5,971		359,409
Operational notes, related party		-			-			-			-		-			-			-			-		-
Total liabilities		315,479			7,828			9,191			7,284		10,048			8,804			13,770			5,971		359,409
Members’ equity
Members’ capital		3,000			321,862			312,136			243,635		195,041			276,262			304,467			311,399		-
Retained earnings (accumulated deficit)		(11,102	)		(13,214	)		(18,129	)		3,274		(24,237	)		(19,879	)		(18,766	)		4,304		(8,122	)
Total members’ equity		(8,102	)		308,648			294,006			246,908		170,803			256,383			285,701			315,703		(8,122	)
Total liabilities and members’ equity	$	307,377		$	316,476		$	303,197		$	254,193	$	180,851		$	265,187		$	299,471		$	321,674	$	351,287

F-13

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:
Cash	$	11,429		$	7,455		$	3,024		$	19,029		$	5,720	$	-		$	22,583		$	6,608		$	8,432
Prepaid expenses		450			507			1,892			541			1,116		-			458			591			1,347
Due from related parties		-			-			-			-			-		-			-			-			-
Due from (to) third party property manager		4,206			3,192			3,586			4,258			2,016		-			3,929			3,849			4,300
Total current assets		16,085			11,154			8,503			23,828			8,851		-			26,970			11,047			14,079
Property and equipment, net		286,038			203,702			245,210			288,903			199,858		324,350			293,425			269,761			273,609
Total assets	$	302,123		$	214,856		$	253,713		$	312,731		$	208,709	$	324,350		$	320,395		$	280,808		$	287,689
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses		5,100			3,050			2,432			2,938			2,808		5,161			3,288			2,668			8,257
Tenant deposits		2,145			1,695			1,795			2,345			-		-			2,145			1,795			2,095
Bridge financing, related party		-			-			-			-			-		308,000			-			-			-
Due to (from) related parties		2,425			1,666			2,796			2,449			2,159		16,646			2,285			4,262			2,300
Total current liabilities		9,670			6,410			7,023			7,732			4,967		329,807			7,718			8,725			12,652
Operational notes, related party		-			-			-			-			-		-			-			-			-
Total liabilities		9,670			6,410			7,023			7,732			4,967		329,807			7,718			8,725			12,652
Members’ equity
Members’ capital		298,518			208,908			259,416			305,649			203,219		-			316,782			278,625			282,322
Retained earnings (accumulated deficit)		(6,065	)		(463	)		(12,727	)		(650	)		524		(5,457	)		(4,105	)		(6,542	)		(7,286	)
Total members’ equity		292,453			208,445			246,690			304,999			203,742		(5,457	)		312,677			272,083			275,037
Total liabilities and members’ equity	$	302,123		$	214,856		$	253,713		$	312,731		$	208,709	$	324,350		$	320,395		$	280,808		$	287,689

F-14

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:
Cash	$	1,152		$	5,838		$	11,778		$	12,661		$	-		$	24,688		$	14,543		$	6,894		$	4,683
Prepaid expenses		1,013			667			1,772			1,185			790			414			501			944			482
Due from related parties		-			-			-			-			-			-			-			-			-
Due from (to) third party property manager		1,370			4,258			3,624			2,355			2,097			558			4,390			5,553			2,092
Total current assets		3,535			10,764			17,174			16,200			2,887			25,660			19,434			13,391			7,257
Property and equipment, net		240,044			253,710			290,043			309,705			226,795			295,285			263,670			295,055			280,333
Total assets	$	243,580		$	264,474		$	307,216		$	325,905		$	229,682		$	320,945		$	283,104		$	308,446		$	287,590
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses		1,533			2,720			2,251			3,821			2,780			4,542			4,368			4,984			2,001
Tenant deposits		2,393			1,795			1,795			2,395			1,745			2,095			2,495			2,995			2,445
Bridge financing, related party		-			-			-			-			-			-			-			-			-
Due to (from) related parties		1,969			2,525			2,322			3,595			2,138			1,694			2,616			3,480			2,467
Total current liabilities		5,895			7,039			6,368			9,811			6,663			8,330			9,479			11,459			6,913
Operational notes, related party		5,500			-			-			-			-			-			-			16,800			-
Total liabilities		11,395			7,039			6,368			9,811			6,663			8,330			9,479			28,259			6,913
Members’ equity
Members’ capital		256,781			259,274			322,402			319,764			243,056			315,642			281,147			326,259			302,667
Retained earnings (accumulated deficit)		(24,596	)		(1,840	)		(21,554	)		(3,670	)		(20,037	)		(3,027	)		(7,522	)		(46,071	)		(21,990	)
Total members’ equity		232,185			257,434			300,848			316,094			223,019			312,615			273,626			280,188			280,678
Total liabilities and members’ equity	$	243,580		$	264,474		$	307,216		$	325,905		$	229,682		$	320,945		$	283,104		$	308,446		$	287,590

F-15

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:
Cash	$	3,176		$	3,281		$	19,302	$	18,053		$	14,335		$	10,753		$	13,581	$	7,665		$	18,728
Prepaid expenses		687			483			376		418			552			738			1,038		570			406
Due from related parties		-			-			-		-			-			-			-		-			-
Due from (to) third party property manager		3,878			2,378			4,154		5,781			3,815			3,511			4,184		4,837			5,009
Total current assets		7,741			6,142			23,833		24,252			18,702			15,002			18,803		13,071			24,143
Property and equipment, net		243,748			198,929			273,512		284,027			246,434			236,852			246,865		263,896			379,906
Total assets	$	251,488		$	205,071		$	297,345	$	308,279		$	265,137		$	251,854		$	265,668	$	276,967		$	404,049
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses		2,506			2,463			4,901		3,437			2,949			2,647			5,338		3,565			6,713
Tenant deposits		2,195			1,475			2,245		3,990			1,895			1,795			2,095		2,045			2,495
Bridge financing, related party		-			-			-		-			-			-			-		-			-
Due to (from) related parties		4,744			2,320			1,851		100			2,076			2,129			2,581		6,373			2,584
Total current liabilities		9,445			6,259			8,997		7,527			6,920			6,572			10,014		11,982			11,792
Operational notes, related party		-			13,000			-		-			-			-			-		-			-
Total liabilities		9,445			19,259			8,997		7,527			6,920			6,572			10,014		11,982			11,792
Members’ equity
Members’ capital		249,907			204,516			286,202		305,441			264,497			246,803			255,098		275,072			393,337
Retained earnings (accumulated deficit)		(7,864	)		(18,704	)		2,146		(4,690	)		(6,280	)		(1,521	)		556		(10,087	)		(1,080	)
Total members’ equity		242,043			185,812			288,348		300,751			258,217			245,282			255,655		264,985			392,257
Total liabilities and members’ equity	$	251,488		$	205,071		$	297,345	$	308,279		$	265,137		$	251,854		$	265,668	$	276,967		$	404,049

F-16

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:
Cash	$	2,123		$	6,658		$	18,262		$	16,561		$	15,946		$	6,549		$	12,837	$	23,239		$	16,296
Prepaid expenses		1,197			642			394			394			791			1,784			385		-			539
Due from related parties		-			-			-			-			-			-			-		-			-
Due from (to) third party property manager		2,910			1,885			3,814			3,920			3,503			4,808			2,743		4,864			2,913
Total current assets		6,230			9,185			22,471			20,875			20,240			13,141			15,965		28,103			19,748
Property and equipment, net		178,006			225,720			350,910			350,910			242,946			306,328			169,346		325,823			341,063
Total assets	$	184,236		$	234,905		$	373,380		$	371,785		$	263,186		$	319,468		$	185,311	$	353,926		$	360,811
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses		2,388			1,518			1,280			2,928			3,168			4,584			3,102		5,609			6,396
Tenant deposits		1,495			1,745			-			1,995			2,095			3,293			1,395		2,645			2,295
Bridge financing, related party		-			-			-			-			-			-			-		-			-
Due to (from) related parties		7,690			2,501			2,559			2,339			2,138			11,685			1,846		971			2,308
Total current liabilities		11,573			5,764			3,840			7,262			7,402			19,561			6,343		9,224			10,999
Operational notes, related party		-			-			-			-			-			-			-		-			-
Total liabilities		11,573			5,764			3,840			7,262			7,402			19,561			6,343		9,224			10,999
Members’ equity
Members’ capital		187,557			240,619			377,092			378,190			255,965			321,198			176,217		352,751			353,031
Retained earnings (accumulated deficit)		(14,893	)		(11,477	)		(7,552	)		(13,668	)		(181	)		(21,291	)		2,751		(8,050	)		(3,219	)
Total members’ equity		172,663			229,141			369,541			364,523			255,784			299,907			178,968		344,701			349,812
Total liabilities and members’ equity	$	184,236		$	234,905		$	373,380		$	371,785		$	263,186		$	319,468		$	185,311	$	353,926		$	360,811

F-17

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:
Cash	$	-		$	24,838		$	14,604		$	4,897		$	6,926		$	20,051		$	15,168		$	10,353		$	11,162
Prepaid expenses		-			482			506			1,186			674			415			1,379			1,464			477
Due from related parties		-			-			-			-			-			-			-			-			-
Due from (to) third party property manager		869			4,708			4,856			4,319			6,186			4,388			1,662			4,507			3,921
Total current assets		869			30,028			19,966			10,402			13,786			24,854			18,209			16,324			15,560
Property and equipment, net		334,512			330,775			317,642			259,206			281,343			295,617			250,315			269,405			200,803
Total assets	$	335,380		$	360,803		$	337,608		$	269,608		$	295,129		$	320,471		$	268,524		$	285,729		$	216,363
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses		5,524			5,854			5,282			6,111			2,379			4,945			7,547			8,153			3,100
Tenant deposits		2,995			2,295			2,695			2,395			3,990			2,345			-			2,445			2,195
Bridge financing, related party		318,000			-			-			-			-			-			-			-			-
Due to (from) related parties		18,665			1,427			2,485			1,913			3,000			2,307			2,100			1,519			1,544
Total current liabilities		345,185			9,576			10,462			10,420			9,369			9,598			9,647			12,118			6,839
Operational notes, related party		-			-			-			8,000			24,300			-			-			-			-
Total liabilities		345,185			9,576			10,462			18,420			33,669			9,598			9,647			12,118			6,839
Members’ equity
Members’ capital		3,644			358,598			334,437			263,232			298,733			311,569			266,178			285,515			210,878
Retained earnings (accumulated deficit)		(13,448	)		(7,371	)		(7,291	)		(12,043	)		(37,273	)		(696	)		(7,301	)		(11,903	)		(1,354	)
Total members’ equity		(9,804	)		351,227			327,146			251,189			261,460			310,873			258,877			273,612			209,524
Total liabilities and members’ equity	$	335,380		$	360,803		$	337,608		$	269,608		$	295,129		$	320,471		$	268,524		$	285,729		$	216,363

F-18

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:
Cash	$	10,940		$	4,306		$	-		$	25,490		$	4,362		$	16,387		$	19,278		$	18,656		$	4,155
Prepaid expenses		277			674			-			-			489			376			390			439			1,520
Due from related parties		-			-			-			-			-			-			-			-			-
Due from (to) third party property manager		4,156			3,602			-			5,493			3,557			4,005			2,002			4,273			1,545
Total current assets		15,373			8,581			-			30,983			8,408			20,768			21,671			23,367			7,220
Property and equipment, net		175,531			262,135			295,182			345,992			208,784			276,193			255,431			300,462			197,852
Total assets	$	190,904		$	270,716		$	295,182		$	376,975		$	217,192		$	296,961		$	277,101		$	323,829		$	205,072
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses		3,166			3,127			7,777			1,884			2,263			6,945			2,928			4,847			2,654
Tenant deposits		2,690			1,850			-			5,190			2,468			1,895			2,543			2,445			1,645
Bridge financing, related party		-			-			284,000			-			-			-			-			-			-
Due to (from) related parties		1,335			2,146			9,429			1,539			2,264			1,855			1,479			1,136			3,743
Total current liabilities		7,192			7,123			301,205			8,612			6,995			10,695			6,950			8,428			8,042
Operational notes, related party		-			-			-			-			10,700			-			-			-			-
Total liabilities		7,192			7,123			301,205			8,612			17,695			10,695			6,950			8,428			8,042
Members’ equity
Members’ capital		191,853			274,857			1,657			378,527			219,798			295,899			283,217			329,278			205,736
Retained earnings (accumulated deficit)		(8,141	)		(11,264	)		(7,680	)		(10,164	)		(20,300	)		(9,633	)		(13,066	)		(13,877	)		(8,706	)
Total members’ equity		183,713			263,593			(6,023	)		368,363			199,498			286,266			270,152			315,401			197,030
Total liabilities and members’ equity	$	190,904		$	270,716		$	295,182		$	376,975		$	217,192		$	296,961		$	277,101		$	323,829		$	205,072

F-19

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:
Cash	$	14,763		$	20,002		$	17,909		$	22,874		$	8,984		$	-		$	17,393		$	14,030		$	7,240
Prepaid expenses		539			516			414			516			454			-			414			415			552
Due from related parties		-			-			-			-			-			-			-			-			-
Due from (to) third party property manager		4,926			3,920			4,008			5,168			4,386			-			4,663			4,329			4,253
Total current assets		20,228			24,438			22,331			28,557			13,824			-			22,469			18,774			12,046
Property and equipment, net		330,898			319,987			272,028			319,987			205,252			241,325			283,311			312,724			284,990
Total assets	$	351,127		$	344,425		$	294,359		$	348,545		$	219,076		$	241,325		$	305,781		$	331,498		$	297,036
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses		6,424			3,322			5,516			3,438			3,688			6,735			4,777			4,750			2,887
Tenant deposits		2,795			1,995			2,145			3,143			2,693			-			3,093			2,345			1,995
Bridge financing, related party		-			-			-			-			-			229,000			-			-			-
Due to (from) related parties		2,246			2,467			1,119			2,485			2,384			21,709			1,899			2,433			2,243
Total current liabilities		11,465			7,784			8,780			9,065			8,764			257,445			9,769			9,529			7,125
Operational notes, related party		-			-			-			-			-			-			-			-			-
Total liabilities		11,465			7,784			8,780			9,065			8,764			257,445			9,769			9,529			7,125
Members’ equity
Members’ capital		342,191			342,491			297,169			341,277			215,255			-			302,229			331,424			309,475
Retained earnings (accumulated deficit)		(2,529	)		(5,849	)		(11,590	)		(1,798	)		(4,943	)		(16,120	)		(6,217	)		(9,455	)		(19,564	)
Total members’ equity		339,662			336,641			285,579			339,479			210,312			(16,120	)		296,012			321,970			289,911
Total liabilities and members’ equity	$	351,127		$	344,425		$	294,359		$	348,545		$	219,076		$	241,325		$	305,781		$	331,498		$	297,036

F-20

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:
Cash	$	22,621		$	24,787		$	23,357	$	13,296		$	23,488		$	23,414		$	14,858	$	8,977		$	-
Prepaid expenses		636			-			527		277			418			-			531		340			-
Due from related parties		-			3,128			-		-			6,955			2			-		-			-
Due from (to) third party property manager		1,788			4,012			4,828		2,764			3,123			3,692			3,690		2,742			-
Total current assets		25,046			31,928			28,711		16,337			33,983			27,107			19,079		12,059			-
Property and equipment, net		323,781			322,775			326,857		175,531			290,451			295,518			222,762		168,270			390,088
Total assets	$	348,826		$	354,702		$	355,568	$	191,868		$	324,434		$	322,626		$	241,841	$	180,328		$	390,088
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses		3,343			4,094			5,694		2,901			3,242			3,770			5,515		3,034			15,631
Tenant deposits		2,495			2,345			2,545		1,395			3,243			2,695			2,045		1,395			-
Bridge financing, related party		-			-			-		-			-			-			-		-			362,000
Due to (from) related parties		2,569			-			2,230		1,343			-			-			2,583		1,396			22,769
Total current liabilities		8,407			6,439			10,469		5,639			6,485			6,465			10,143		5,824			400,400
Operational notes, related party		-			-			-		-			-			-			-		-			-
Total liabilities		8,407			6,439			10,469		5,639			6,485			6,465			10,143		5,824			400,400
Members’ equity
Members’ capital		341,678			356,490			344,040		189,071			332,900			324,515			226,607		186,239			-
Retained earnings (accumulated deficit)		(1,259	)		(8,226	)		1,059		(2,842	)		(14,952	)		(8,355	)		5,091		(11,736	)		(10,312	)
Total members’ equity		340,419			348,264			345,099		186,229			317,949			316,161			231,698		174,504			(10,312	)
Total liabilities and members’ equity	$	348,826		$	354,702		$	355,568	$	191,868		$	324,434		$	322,626		$	241,841	$	180,328		$	390,088

F-21

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:
Cash	$	6,370		$	6,633		$	9,480	$	-		$	19,226		$	15,649		$	14,142	$	6,388		$	14,689
Prepaid expenses		820			1,080			489		-			437			357			385		502			476
Due from related parties		-			-			-		-			-			-			-		-			-
Due from (to) third party property manager		3,211			4,676			3,789		-			4,281			4,847			2,739		565			3,232
Total current assets		10,402			12,389			13,757		-			23,945			20,853			17,266		7,455			18,397
Property and equipment, net		233,128			314,043			211,043		244,500			251,134			347,252			169,346		245,580			200,499
Total assets	$	243,529		$	326,432		$	224,800	$	244,500		$	275,078		$	368,104		$	186,612	$	253,035		$	218,895
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses		2,837			2,941			2,785		4,523			6,810			5,775			3,083		5,070			2,970
Tenant deposits		1,795			2,395			1,795		-			2,495			2,695			1,395		2,145			1,649
Bridge financing, related party		-			-			-		232,000			-			-			-		-			-
Due to (from) related parties		2,223			4,607			3,000		12,804			2,010			2,349			1,846		2,601			2,047
Total current liabilities		6,855			9,943			7,580		249,328			11,315			10,819			6,324		9,816			6,666
Operational notes, related party		-			-			-		-			-			-			-		-			-
Total liabilities		6,855			9,943			7,580		249,328			11,315			10,819			6,324		9,816			6,666
Members’ equity
Members’ capital		240,554			339,118			214,538		-			264,995			367,071			179,562		257,282			207,393
Retained earnings (accumulated deficit)		(3,880	)		(22,629	)		2,682		(4,828	)		(1,232	)		(9,786	)		726		(14,063	)		4,837
Total members’ equity		236,674			316,489			217,221		(4,828	)		263,763			357,285			180,288		243,218			212,230
Total liabilities and members’ equity	$	243,529		$	326,432		$	224,800	$	244,500		$	275,078		$	368,104		$	186,612	$	253,035		$	218,895

F-22

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:
Cash	$	20,047	$	4,751		$	4,408		$	4,051		$	22,986		$	15,987		$	1,129,818
Prepaid expenses		542		382			535			570			461			362			55,245
Due from related parties		-		-			-			-			-			-			10,085
Due from (to) third party property manager		5,790		2,163			3,172			4,838			344			2,462			321,782
Total current assets		26,379		7,296			8,115			9,459			23,792			18,811			1,516,931
Property and equipment, net		277,119		159,538			245,293			245,276			303,663			157,597			25,742,294
Total assets	$	303,498	$	166,834		$	253,408		$	254,735		$	327,455		$	176,408		$	27,259,224
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accrued expenses		3,131		2,651			1,518			2,622			1,750			2,742		$	390,569
Tenant deposits		3,543		1,295			1,695			2,645			-			1,275			196,117
Bridge financing, related party		-		-			-			-			-			-			2,349,683
Due to (from) related parties		2,228		1,751			4,436			8,331			1,868			1,205			371,332
Total current liabilities		8,901		5,696			7,649			13,598			3,618			5,222			3,307,700
Operational notes, related party		-		-			-			-			-			-			78,300
Total liabilities		8,901		5,696			7,649			13,598			3,618			5,222			3,386,000
Members’ equity
Members’ capital		289,712		169,469			254,853			257,851			328,032			171,337			24,710,152
Retained earnings (accumulated deficit)		4,885		(8,331	)		(9,095	)		(16,713	)		(4,194	)		(151	)		(836,928	)
Total members’ equity		294,597		161,138			245,758			241,137			323,837			171,186			23,873,224
Total liabilities and members’ equity	$	303,498	$	166,834		$	253,408		$	254,735		$	327,455		$	176,408		$	27,259,224

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

F-23

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	$	12,820		$	11,670	$	12,270	$	9,022	$	8,370	$	13,640	$	12,570		$	12,030	$	12,600
Operating expenses:
Depreciation		4,197			4,257		4,123		3,245		2,466		3,679		4,578			4,208		4,807
Insurance		654			593		675		534		669		598		2,283			544		776
Management fees, related party		1,518			1,444		1,462		1,013		790		1,650		1,456			1,453		1,457
Management fees		489			420		479		451		420		661		466			431		425
Repairs and maintenance		695			-		670		120		-		880		390			-		50
Property taxes		1,662			1,592		1,784		1,199		605		1,311		2,814			1,241		1,912
Other operating expenses		5,210			1,083		1,202		1,541		1,028		258		1,238			1,565		6,063
Total operating expenses		14,425			9,388		10,394		8,103		5,979		9,037		13,225			9,442		15,490
Loss from operations		(1,605	)		2,282		1,876		919		2,391		4,603		(655	)		2,588		(2,890	)
Other expenses (income):
Other income		-			-		-		-		-		-		-			-		-
Interest expense		540			-		-		-		164		-		-			-		2,260
Total other expenses		540			-		-		-		164		-		-			-		2,260
Net income (loss)	$	(2,145	)	$	2,282	$	1,876	$	919	$	2,228	$	4,603	$	(655	)	$	2,588	$	(5,150	)

F-24

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	$	12,870	$	10,170	$	10,770	$	12,720	$	9,360	$	9,278		$	11,520	$	11,220	$	12,570
Operating expenses:
Depreciation		4,029		2,910		3,503		4,108		2,862		4,420			4,180		3,854		4,392
Insurance		674		466		1,410		661		520		630			534		501		1,879
Management fees, related party		1,488		872		1,207		1,498		849		1,230			1,417		1,103		1,425
Management fees		420		610		491		420		555		452			420		673		447
Repairs and maintenance		-		-		710		-		427		672			-		297		200
Property taxes		1,488		737		1,834		2,363		814		1,783			1,253		1,829		2,744
Other operating expenses		2,240		1,181		1,137		840		1,251		6,919			1,462		1,106		1,573
Total operating expenses		10,338		6,776		10,291		9,889		7,279		16,106			9,267		9,363		12,660
Loss from operations		2,532		3,394		479		2,831		2,081		(6,828	)		2,253		1,857		(90	)
Other expenses (income):
Other income		-		-		-		-		-		-			-		-		-
Interest expense		-		-		-		-		-		3,080			-		-		-
Total other expenses		-		-		-		-		-		3,080			-		-		-
Net income (loss)	$	2,532	$	3,394	$	479	$	2,831	$	2,081	$	(9,908	)	$	2,253	$	1,857	$	(90	)

F-25

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	$	9,570		$	11,034	$	8,975		$	14,370	$	9,120	$	12,570	$	12,270	$	15,270	$	7,758
Operating expenses:
Depreciation		3,437			4,811		4,124			4,471		3,232		4,666		3,860		4,225		3,948
Insurance		609			613		2,854			767		1,066		867		510		840		723
Management fees, related party		1,166			1,031		1,115			1,701		1,013		1,489		1,327		1,732		1,201
Management fees		585			658		646			424		420		980		472		439		866
Repairs and maintenance		1,732			-		3,175			-		-		457		515		190		6,006
Property taxes		674			1,677		2,292			536		1,263		947		1,624		2,407		1,577
Other operating expenses		1,333			1,717		1,874			2,871		1,184		3,067		1,094		1,044		5,102
Total operating expenses		9,536			10,507		16,080			10,770		8,178		12,472		9,402		10,877		19,423
Loss from operations		34			527		(7,105	)		3,600		942		98		2,868		4,393		(11,666	)
Other expenses (income):
Other income		-			-		-			-		-		-		-		-		-
Interest expense		206			-		-			-		-		-		-		630		-
Total other expenses		206			-		-			-		-		-		-		630		-
Net income (loss)	$	(172	)	$	527	$	(7,105	)	$	3,600	$	942	$	98	$	2,868	$	3,763	$	(11,666	)

F-26

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	$	8,227		$	8,850		$	12,180	$	9,975	$	11,370	$	10,710	$	9,381		$	12,940	$	14,970
Operating expenses:
Depreciation		4,121			4,147			3,837		3,991		3,512		3,368		3,527			4,227		5,326
Insurance		639			517			564		892		564		1,107		604			716		784
Management fees, related party		1,052			867			1,388		1,318		1,255		1,171		1,169			1,425		1,940
Management fees		662			555			451		433		457		465		656			498		433
Repairs and maintenance		1,027			1,197			-		553		370		449		1,356			780		125
Property taxes		1,347			1,026			299		913		1,565		1,754		1,038			1,645		1,814
Other operating expenses		1,504			1,026			1,539		762		2,075		1,452		3,204			1,559		2,294
Total operating expenses		10,352			9,334			8,079		8,861		9,798		9,765		11,553			10,849		12,715
Loss from operations		(2,125	)		(484	)		4,101		1,114		1,572		945		(2,172	)		2,091		2,255
Other expenses (income):
Other income		-			-			-		-		-		-		-			-		-
Interest expense		-			488			-		-		-		-		-			-		-
Total other expenses		-			488			-		-		-		-		-			-		-
Net income (loss)	$	(2,125	)	$	(972	)	$	4,101	$	1,114	$	1,572	$	945	$	(2,172	)	$	2,091	$	2,255

F-27

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	$	8,970	$	10,081	$	6,532		$	11,449		$	10,052	$	13,170	$	6,405		$	14,520	$	15,253
Operating expenses:
Depreciation		2,549		3,225		4,931			5,336			3,462		5,914		2,419			4,510		4,784
Insurance		473		578		829			829			1,061		695		411			647		808
Management fees, related party		853		879		1,349			1,576			1,147		1,553		765			1,720		1,841
Management fees		470		735		380			497			420		472		914			463		420
Repairs and maintenance		500		-		1,005			(5,304	)		-		409		6,154			425		-
Property taxes		429		1,787		1,345			1,335			1,367		2,340		593			1,062		1,139
Other operating expenses		986		1,648		2,529			1,818			1,084		945		2,726			1,975		2,382
Total operating expenses		6,260		8,853		12,369			6,086			8,541		12,327		13,985			10,801		11,375
Loss from operations		2,710		1,227		(5,837	)		5,363			1,511		843		(7,580	)		3,719		3,878
Other expenses (income):
Other income		-		-		-			-			-		-		-			-		-
Interest expense		182		-		-			-			-		245		-			-		-
Total other expenses		182		-		-			-			-		245		-			-		-
Net income (loss)	$	2,529	$	1,227	$	(5,837	)	$	5,363		$	1,511	$	597	$	(7,580	)	$	3,719	$	3,878

F-28

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	$	15,270		$	13,770	$	13,370	$	11,670		$	11,970		$	12,720	$	6,354		$	13,320	$	8,725
Operating expenses:
Depreciation		4,559			4,631		4,453		5,545			4,963			4,144		4,070			4,286		2,862
Insurance		923			723		1,114		1,650			621			870		1,938			2,055		532
Management fees, related party		1,797			1,687		1,621		1,264			1,128			1,501		1,022			1,471		972
Management fees		784			420		430		433			718			474		603			448		444
Repairs and maintenance		3,639			-		100		125			144			542		2,342			284		(28	)
Property taxes		1,982			1,496		1,064		2,272			2,779			930		2,532			2,696		827
Other operating expenses		4,032			1,491		2,596		1,227			1,866			2,526		3,230			1,034		390
Total operating expenses		17,715			10,448		11,377		12,515			12,221			10,987		15,737			12,274		6,000
Loss from operations		(2,445	)		3,322		1,993		(845	)		(251	)		1,734		(9,383	)		1,046		2,725
Other expenses (income):
Other income		-			-		-		-			-			-		-			-		-
Interest expense		663			-		-		300			911			-		-			-		-
Total other expenses		663			-		-		300			911			-		-			-		-
Net income (loss)	$	(3,108	)	$	3,322	$	1,993	$	(1,145	)	$	(1,162	)	$	1,734	$	(9,383	)	$	1,046	$	2,725

F-29

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	$	8,155	$	11,055	$	1,888		$	15,570	$	9,870	$	11,370	$	6,780		$	13,320	$	8,022
Operating expenses:
Depreciation		2,466		4,492		3,340			4,723		4,173		3,872		3,535			4,222		3,455
Insurance		669		739		538			978		540		564		585			1,009		594
Management fees, related party		772		1,259		959			1,850		985		1,336		1,212			1,567		824
Management fees		470		519		494			486		480		420		420			420		835
Repairs and maintenance		505		991		3,493			120		425		-		-			-		3,318
Property taxes		858		1,010		1,635			1,898		1,089		1,810		1,205			815		497
Other operating expenses		1,226		1,056		6,049			2,156		813		1,584		1,726			1,510		1,256
Total operating expenses		6,968		10,065		16,508			12,210		8,504		9,586		8,684			9,543		10,779
Loss from operations		1,187		990		(14,620	)		3,360		1,366		1,784		(1,904	)		3,777		(2,757	)
Other expenses (income):
Other income		-		-		-			-		-		-		-			-		-
Interest expense		-		-		1,657			-		401		-		-			-		-
Total other expenses		-		-		1,657			-		401		-		-			-		-
Net income (loss)	$	1,187	$	990	$	(16,277	)	$	3,360	$	965	$	1,784	$	(1,904	)	$	3,777	$	(2,757	)

F-30

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	$	13,770	$	11,970	$	11,790	$	12,570	$	12,978	$	7,352		$	9,985		$	12,720	$	10,573
Operating expenses:
Depreciation		4,642		4,560		3,818		4,560		3,331		3,288			3,972			4,394		5,020
Insurance		808		610		621		610		479		582			835			920		682
Management fees, related party		1,691		1,535		1,352		1,583		1,257		883			1,253			1,555		1,450
Management fees		565		420		454		420		1,126		382			425			477		651
Repairs and maintenance		1,145		-		335		-		610		370			50			-		-
Property taxes		1,174		1,336		932		1,336		1,157		1,273			968			447		2,201
Other operating expenses		2,318		1,502		2,745		1,502		1,208		6,261			3,273			2,269		1,737
Total operating expenses		12,342		9,963		10,255		10,011		9,169		13,039			10,775			10,062		11,741
Loss from operations		1,428		2,007		1,535		2,559		3,809		(5,687	)		(790	)		2,658		(1,168	)
Other expenses (income):
Other income		-		-		-		-		-		-			-			-		-
Interest expense		-		-		-		-		-		2,576			-			-		-
Total other expenses		-		-		-		-		-		2,576			-			-		-
Net income (loss)	$	1,428	$	2,007	$	1,535	$	2,559	$	3,809	$	(8,263	)	$	(790	)	$	2,658	$	(1,168	)

F-31

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	$	14,970	$	14,170	$	14,000	$	8,370	$	14,140	$	13,470	$	11,200	$	8,370	$	7,041
Operating expenses:
Depreciation		4,604		4,409		4,582		2,466		4,014		4,057		3,215		2,398		5,872
Insurance		788		669		1,103		669		788		802		526		414		951
Management fees, related party		1,783		1,680		1,699		779		1,609		1,542		1,175		775		1,308
Management fees		429		420		428		431		515		420		477		516		467
Repairs and maintenance		90		-		75		-		150		-		658		963		1,770
Property taxes		2,199		1,777		1,249		990		1,407		1,622		1,238		576		2,101
Other operating expenses		840		1,986		2,137		1,066		1,920		2,569		1,742		971		6,755
Total operating expenses		10,732		10,942		11,273		6,401		10,403		11,012		9,031		6,613		19,224
Loss from operations		4,238		3,228		2,727		1,969		3,737		2,458		2,169		1,757		(12,183	)
Other expenses (income):
Other income		-		-		-		-		-		-		-		-		-
Interest expense		-		-		-		-		-		-		-		-		2,489
Total other expenses		-		-		-		-		-		-		-		-		2,489
Net income (loss)	$	4,238	$	3,228	$	2,727	$	1,969	$	3,737	$	2,458	$	2,169	$	1,757	$	(14,672	)

F-32

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	$	10,770	$	10,927		$	7,180		$	5,880		$	12,270	$	13,470	$	8,370	$	11,520	$	10,291
Operating expenses:
Depreciation		3,330		4,476			3,015			3,332			3,579		4,862		2,419		3,508		2,864
Insurance		1,007		1,454			428			610			523		535		411		517		520
Management fees, related party		1,237		1,574			802			712			1,342		1,723		779		1,267		1,027
Management fees		503		442			431			1,790			420		570		420		450		420
Repairs and maintenance		550		1,615			4,985			15,096			-		1,503		-		300		-
Property taxes		1,377		1,670			1,051			1,347			1,839		2,546		593		1,745		814
Other operating expenses		903		3,130			1,994			5,424			770		984		1,068		1,340		1,096
Total operating expenses		8,908		14,361			12,705			28,312			8,472		12,723		5,691		9,127		6,742
Loss from operations		1,862		(3,434	)		(5,525	)		(22,432	)		3,798		747		2,679		2,393		3,550
Other expenses (income):
Other income		-		-			-			-			-		-		-		-		-
Interest expense		-		-			-			4,156			-		-		-		-		-
Total other expenses		-		-			-			4,156			-		-		-		-		-
Net income (loss)	$	1,862	$	(3,434	)	$	(5,525	)	$	(26,588	)	$	3,798	$	747	$	2,679	$	2,393	$	3,550

F-33

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	$	11,135		$	7,770	$	4,466		$	11,820	$	5,798		$	7,650	$	1,043,396
Operating expenses:
Depreciation		3,940			2,927		3,504			4,024		4,257			2,241		379,050
Insurance		552			447		451			725		692			453		74,992
Management fees, related party		1,382			682		1,122			1,276		1,143			681		123,252
Management fees		2,530			455		180			420		370			467		51,784
Repairs and maintenance		20,996			347		5,222			-		1,031			469		100,560
Property taxes		2,509			708		1,180			1,623		463			766		136,369
Other operating expenses		1,129			499		1,403			640		3,182			898		190,726
Total operating expenses		33,039			6,065		13,062			8,708		11,138			5,974		1,056,734
Loss from operations		(21,904	)		1,705		(8,596	)		3,112		(5,339	)		1,676		(13,338	)
Other expenses (income):
Other income		(15,391	)		-		-			-		-			-		(15,391	)
Interest expense		-			-		-			185		-			-		21,133
Total other expenses		(15,391	)		-		-			185		-			-		5,742
																	-
Net income (loss)	$	(6,512	)	$	1,705	$	(8,596	)	$	2,927	$	(5,339	)	$	1,676	$	(19,080	)

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

F-34

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	$	11,670	$	12,270	$	9,570		$	8,370	$	7,006		$	12,570		$	11,970	$	12,870	$	10,170
Operating expenses:
Depreciation		4,257		4,123		3,245			2,466		3,679			4,578			4,208		4,029		2,910
Insurance		739		947		685			446		820			3,503			634		1,204		617
Management fees		420		469		494			442		420			427			482		482		712
Management fees, related party		1,599		1,563		1,118			858		943			1,594			1,550		1,572		804
Repairs & maintenance		165		150		556			1,376		3,327			75			621		2,452		943
Property taxes		1,704		1,650		(276	)		670		1,470			1,596			1,686		6		1,164
Other operating expenses		897		2,372		1,358			1,282		4,047			1,210			1,822		2,337		1,056
Total operating expenses		9,781		11,273		7,179			7,539		14,707			12,983			11,003		12,082		8,207
Income (loss) from operations		1,889		997		2,391			831		(7,701	)		(413	)		967		788		1,963
Other expenses (income):
Other income		-		-		-			-		-			-			-		-		-
Interest expense		-		-		-			-		-			-			-		-		-
Total other expenses		-		-		-			-		-			-			-		-		-
Net income (loss)	$	1,889	$	997	$	2,391		$	831	$	(7,701	)	$	(413	)	$	967	$	788	$	1,963

F-35

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	$	10,770	$	12,720	$	9,175	$	11,520	$	11,220	$	12,570	$	10,170		$	10,770		$	10,770
Operating expenses:
Depreciation		3,503		4,108		2,862		4,180		3,854		4,392		3,437			4,811			4,124
Insurance		2,187		852		652		615		576		2,605		778			775			1,669
Management fees		439		420		628		420		785		440		995			862			754
Management fees, related party		1,188		1,648		624		1,569		1,029		1,404		957			765			1,230
Repairs & maintenance		-		-		-		-		505		-		5,320			1,833			-
Property taxes		1,404		1,650		1,146		1,680		1,542		1,542		1,374			1,404			1,650
Other operating expenses		1,503		951		958		1,002		981		1,180		920			806			1,522
Total operating expenses		10,224		9,628		6,871		9,467		9,271		11,562		13,782			11,255			10,949
Income (loss) from operations		546		3,092		2,304		2,053		1,949		1,008		(3,612	)		(485	)		(179	)
Other expenses (income):
Other income		-		-		-		-		-		-		-			-			-
Interest expense		-		-		-		-		-		-		-			-			-
Total other expenses		-		-		-		-		-		-		-			-			-
Net income (loss)	$	546	$	3,092	$	2,304	$	2,053	$	1,949	$	1,008	$	(3,612	)	$	(485	)	$	(179	)

F-36

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	$	15,517		$	8,628		$	12,720	$	12,439	$	10,944		$	8,362		$	10,470	$	8,850		$	11,043
Operating expenses:
Depreciation		4,471			3,232			4,152		3,860		4,225			3,948			4,121		3,277			3,198
Insurance		1,113			1,471			634		641		1,310			1,283			847		675			522
Management fees		440			443			453		459		371			380			485		463			453
Management fees, related party		1,765			1,060			1,455		1,362		1,460			1,602			1,138		830			838
Repairs & maintenance		-			-			412		150		7,492			99			425		3,819			-
Property taxes		(532	)		(436	)		1,357		1,404		1,704			740			1,374		1,062			1,530
Other operating expenses		2,248			4,667			2,089		1,152		3,568			4,212			1,022		871			5,054
Total operating expenses		9,505			10,437			10,551		9,028		20,130			12,264			9,412		10,998			11,594
Income (loss) from operations		6,012			(1,808	)		2,169		3,411		(9,187	)		(3,902	)		1,058		(2,148	)		(551	)
Other expenses (income):
Other income		-			-			-		-		-			-			-		-			-
Interest expense		-			-			-		-		-			-			-		-			-
Total other expenses		-			-			-		-		-			-			-		-			-
Net income (loss)	$	6,012		$	(1,808	)	$	2,169	$	3,411	$	(9,187	)	$	(3,902	)	$	1,058	$	(2,148	)	$	(551	)

F-37

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	$	11,771		$	11,370	$	10,770		$	12,570	$	12,270	$	15,163	$	6,696	$	17,845	$	8,380
Operating expenses:
Depreciation		3,991			3,512		3,368			3,527		4,227		5,326		2,549		3,225		4,931
Insurance		648			766		1,887			383		1,093		610		143		838		543
Management fees		427			505		452			450		474		458		280		1,112		350
Management fees, related party		218			1,297		1,132			1,313		1,318		1,937		811		1,019		1,470
Repairs & maintenance		-			252		-			-		540		573		776		605		-
Property taxes		1,317			1,404		(219	)		526		1,488		2,054		1,020		1,290		1,378
Other operating expenses		5,004			1,548		1,788			1,389		737		1,770		516		629		2,486
Total operating expenses		11,606			9,284		8,408			7,588		9,876		12,727		6,094		8,718		11,158
Income (loss) from operations		164			2,086		2,362			4,982		2,394		2,436		602		9,128		(2,778	)
Other expenses (income):
Other income		-			-		-			-		-		-		-		-		-
Interest expense		6,314			-		-			-		-		-		-		-		-
Total other expenses		6,314			-		-			-		-		-		-		-		-
Net income (loss)	$	(6,149	)	$	2,086	$	2,362		$	4,982	$	2,394	$	2,436	$	602	$	9,128	$	(2,778	)

F-38

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	$	6,584		$	10,770		$	9,283		$	8,370		$	-		$	11,552		$	10,940		$	11,375		$	11,782
Operating expenses:
Depreciation		4,931			3,462			5,914			2,419			-			3,987			3,087			4,453			4,170
Insurance		543			1,382			972			520			-			685			973			802			2,265
Management fees		318			445			265			461			-			450			350			779			444
Management fees, related party		1,349			1,171			1,401			738			-			1,566			693			1,529			1,374
Repairs & maintenance		1,079			-			2,498			626			2,723			-			2,448			3,293			3,768
Property taxes		1,378			(451	)		1,704			(472	)		-			1,900			1,522			1,485			1,374
Other operating expenses		2,457			1,779			1,253			801			708			3,308			6,198			3,325			1,816
Total operating expenses		12,054			7,789			14,006			5,093			3,430			11,897			15,270			15,666			15,211
Income (loss) from operations		(5,470	)		2,981			(4,723	)		3,277			(3,430	)		(346	)		(4,331	)		(4,291	)		(3,429	)
Other expenses (income):
Other income		-			-			-			-			-			-			-			-			-
Interest expense		-			-			-			-			191			-			7,746			-			-
Total other expenses		-			-			-			-			191			-			7,746			-			-
Net income (loss)	$	(5,470	)	$	2,981		$	(4,723	)	$	3,277		$	(3,621	)	$	(346	)	$	(12,076	)	$	(4,291	)	$	(3,429	)

F-39

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	$	5,719		$	12,720	$	12,270	$	12,685		$	10,470	$	7,622		$	11,100		$	6,754		$	5,685
Operating expenses:
Depreciation		4,426			4,144		3,503		4,286			2,862		2,466			4,206			3,267			3,872
Insurance		850			636		2,702		3,060			680		446			1,047			702			442
Management fees		728			472		435		425			420		550			564			408			210
Management fees, related party		924			1,588		1,434		1,557			1,146		764			1,240			503			1,091
Repairs & maintenance		10,722			220		-		286			2,634		1,298			1,814			5,987			-
Property taxes		1,554			1,379		1,404		1,512			1,146		675			1,458			1,128			1,290
Other operating expenses		5,781			2,006		994		1,714			1,485		2,219			1,281			2,961			3,944
Total operating expenses		24,984			10,445		10,473		12,840			10,373		8,418			11,609			14,956			10,848
Income (loss) from operations		(19,265	)		2,275		1,797		(155	)		97		(797	)		(509	)		(8,202	)		(5,163	)
Other expenses (income):
Other income		-			-		-		-			-		-			-			(6,998	)		-
Interest expense		-			-		-		-			-		-			-			-			-
Total other expenses		-			-		-		-			-		-			-			(6,998	)		-
Net income (loss)	$	(19,265	)	$	2,275	$	1,797	$	(155	)	$	97	$	(797	)	$	(509	)	$	(1,204	)	$	(5,163	)

F-40

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	$	3,899		$	6,809		$	8,520		$	10,474		$	11,970	$	6,720		$	12,570	$	10,770	$	6,795
Operating expenses:
Depreciation		2,946			4,222			3,455			3,868			4,560		3,182			4,560		2,932		3,972
Insurance		1,002			662			1,745			673			740		1,004			740		644		594
Management fees		210			276			515			380			420		445			420		475		320
Management fees, related party		941			(121	)		791			1,480			1,701		(25	)		1,749		1,025		697
Repairs & maintenance		-			1,019			2,386			-			-		1,650			1,001		1,490		574
Property taxes		1,482			1,426			1,098			1,845			1,830		1,510			1,830		834		1,327
Other operating expenses		5,439			3,296			1,023			3,412			1,002		6,047			1,002		790		6,603
Total operating expenses		12,019			10,780			11,013			11,657			10,254		13,813			11,303		8,189		14,087
Income (loss) from operations		(8,121	)		(3,971	)		(2,493	)		(1,183	)		1,716		(7,093	)		1,267		2,581		(7,292	)
Other expenses (income):
Other income		-			-			-			-			-		-			-		-		-
Interest expense		-			7,656			-			-			-		6,011			-		-		-
Total other expenses		-			7,656			-			-			-		6,011			-		-		-
Net income (loss)	$	(8,121	)	$	(11,627	)	$	(2,493	)	$	(1,183	)	$	1,716	$	(13,104	)	$	1,267	$	2,581	$	(7,292	)

F-41

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	$	8,480		$	12,240	$	17,269		$	13,611		$	8,370	$	6,666		$	10,920	$	8,370		$	10,770
Operating expenses:
Depreciation		4,394			5,020		4,604			4,582			2,466		2,007			3,215		2,398			3,330
Insurance		601			982		1,146			776			446		461			720		525			1,300
Management fees		396			979		485			460			426		280			453		447			445
Management fees, related party		1,460			1,171		2,069			1,113			874		275			1,145		836			1,165
Repairs & maintenance		1,083			-		653			-			60		4,655			1,242		265			-
Property taxes		1,286			1,584		(308	)		1,657			670		1,066			1,194		(314	)		(776	)
Other operating expenses		5,585			687		261			5,396			1,075		1,991			1,803		1,021			2,249
Total operating expenses		14,805			10,424		8,911			13,984			6,016		10,734			9,772		5,178			7,713
Income (loss) from operations		(6,325	)		1,816		8,358			(373	)		2,354		(4,068	)		1,148		3,192			3,057
Other expenses (income):
Other income		-			-		-			-			-		-			-		-			-
Interest expense		-			-		-			-			-		7,917			-		-			-
Total other expenses		-			-		-			-			-		7,917			-		-			-
Net income (loss)	$	(6,325	)	$	1,816	$	8,358		$	(373	)	$	2,354	$	(11,985	)	$	1,148	$	3,192		$	3,057

F-42

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	$	14,370	$	10,968	$	12,270	$	10,552		$	8,370		$	14,140	$	9,894	$	11,100		$	7,770
Operating expenses:
Depreciation		4,476		3,015		3,579		4,052			2,419			3,508		2,864		3,940			2,927
Insurance		2,002		514		661		604			520			658		652		689			580
Management fees		572		766		459		355			420			630		420		420			420
Management fees, related party		1,712		847		1,433		1,022			779			1,385		996		1,536			762
Repairs & maintenance		1,271		340		386		5,782			-			5,089		-		-			-
Property taxes		1,794		1,206		1,428		1,950			(472	)		1,108		1,146		(41	)		882
Other operating expenses		1,290		1,358		704		5,202			1,189			575		569		1,435			714
Total operating expenses		13,116		8,046		8,650		18,967			4,855			12,952		6,648		7,979			6,284
Income (loss) from operations		1,254		2,922		3,620		(8,415	)		3,515			1,188		3,246		3,121			1,486
Other expenses (income):
Other income		-		-		-		-			-			-		-		-			-
Interest expense		-		-		-		-			-			-		-		-			-
Total other expenses		-		-		-		-			-			-		-		-			-
Net income (loss)	$	1,254	$	2,922	$	3,620	$	(8,415	)	$	3,515		$	1,188	$	3,246	$	3,121		$	1,486

F-43

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	$	10,157		$	11,745	$	11,970		$	7,650	$	883,815
Operating expenses:
Depreciation		3,504			4,024		4,257			2,241		313,879
Insurance		508			1,043		1,152			588		79,354
Management fees		711			437		430			420		40,558
Management fees, related party		934			1,244		995			763		96,853
Repairs & maintenance		4,658			787		1,915			-		108,167
Property taxes		1,404			1,374		1,281			894		94,699
Other operating expenses		1,056			1,262		5,267			673		180,963
Total operating expenses		12,775			10,170		15,296			5,578		914,471
Income (loss) from operations		(2,618	)		1,575		(3,326	)		2,072		(30,656	)
Other expenses (income):
Other income		-			-		-			-		(6,998	)
Interest expense		-			-		-			-		35,834
Total other expenses		-			-		-			-		28,836
Net income (loss)	$	(2,618	)	$	1,575	$	(3,326	)	$	2,072	$	(59,492	)

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

F-44

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	$	(8,102	)	$	308,648		$	294,006		$	246,908		$	170,803		$	256,383		$	285,701		$	315,703		$	(8,122	)
Issuance of membership units, net of offering costs	$	334,077		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	380,478
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	5,136
Distributions	$	(6,568	)	$	(7,064	)	$	(5,924	)	$	(5,839	)	$	(4,091	)	$	(4,500	)	$	(5,050	)	$	(7,708	)	$	(5,878	)
Net income (loss)	$	(2,145	)	$	2,282		$	1,876		$	919		$	2,228		$	4,603		$	(655	)	$	2,588		$	(5,150	)
Balance at June 30, 2025	$	317,263		$	303,866		$	289,958		$	241,988		$	168,940		$	256,486		$	279,997		$	310,583		$	366,464

F-45

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	$	292,453		$	208,445		$	246,690		$	304,999		$	203,742		$	(5,457	)	$	312,677		$	272,083		$	275,037
Issuance of membership units, net of offering costs	$	-		$	-		$	-		$	-		$	-		$	353,436		$	-		$	-		$	-
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	5,775		$	-		$	-		$	-
Distributions	$	(7,230	)	$	(6,076	)	$	(4,265	)	$	(7,811	)	$	(5,454	)	$	(5,191	)	$	(7,263	)	$	(6,210	)	$	(5,728	)
Net income (loss)	$	2,532		$	3,394		$	479		$	2,831		$	2,081		$	(9,908	)	$	2,253		$	1,857		$	(90	)
Balance at June 30, 2025	$	287,754		$	205,763		$	242,903		$	300,018		$	200,369		$	338,655		$	307,667		$	267,730		$	269,218

F-46

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	$	232,185		$	257,434		$	300,848		$	316,094		$	223,019		$	312,615		$	273,626		$	280,188		$	280,678
Issuance of membership units, net of offering costs	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Distributions	$	(2,261	)	$	(6,562	)	$	(3,467	)	$	(7,079	)	$	(2,947	)	$	(4,948	)	$	(7,394	)	$	(5,756	)	$	(971	)
Net income (loss)	$	(172	)	$	527		$	(7,105	)	$	3,600		$	942		$	98		$	2,868		$	3,763		$	(11,666	)
Balance at June 30, 2025	$	229,751		$	251,399		$	290,276		$	312,616		$	221,014		$	307,764		$	269,100		$	278,194		$	268,041

F-47

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	$	242,043		$	185,812		$	288,348		$	300,751		$	258,217		$	245,282		$	255,655		$	264,985		$	392,257
Issuance of membership units, net of offering costs	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Distributions	$	(3,021	)	$	(2,686	)	$	(9,895	)	$	(7,293	)	$	(6,819	)	$	(6,311	)	$	(6,094	)	$	(7,418	)	$	(9,433	)
Net income (loss)	$	(2,125	)	$	(972	)	$	4,101		$	1,114		$	1,572		$	945		$	(2,172	)	$	2,091		$	2,255
Balance at June 30, 2025	$	236,897		$	182,155		$	282,554		$	294,572		$	252,970		$	239,916		$	247,388		$	259,658		$	385,080

F-48

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	$	172,663		$	229,141		$	369,541		$	364,523		$	255,784		$	299,907		$	178,968		$	344,701		$	349,812
Issuance of membership units, net of offering costs	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Distributions	$	(4,242	)	$	(6,402	)	$	(4,984	)	$	(7,097	)	$	(6,510	)	$	(5,408	)	$	(3,076	)	$	(8,429	)	$	(8,621	)
Net income (loss)	$	2,529		$	1,227		$	(5,837	)	$	5,363		$	1,511		$	597		$	(7,580	)	$	3,719		$	3,878
Balance at June 30, 2025	$	170,950		$	223,966		$	358,719		$	362,789		$	250,785		$	295,096		$	168,312		$	339,991		$	345,069

F-49

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	$	(9,804	)	$	351,227		$	327,146		$	251,189		$	261,460		$	310,873		$	258,877		$	273,612		$	209,524
Issuance of membership units, net of offering costs	$	362,757		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Distributions	$	(8,111	)	$	(9,804	)	$	(9,035	)	$	(4,204	)	$	(4,638	)	$	(9,401	)	$	(1,843	)	$	(6,216	)	$	(5,398	)
Net income (loss)	$	(3,108	)	$	3,322		$	1,993		$	(1,145	)	$	(1,162	)	$	1,734		$	(9,383	)	$	1,046		$	2,725
Balance at June 30, 2025	$	341,734		$	344,745		$	320,104		$	245,840		$	255,660		$	303,206		$	247,651		$	268,442		$	206,851

F-50

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	$	183,713		$	263,593		$	(6,023	)	$	368,363		$	199,498		$	286,266		$	270,152		$	315,401		$	197,030
Issuance of membership units, net of offering costs	$	-		$	-		$	322,979		$	495		$	-		$	-		$	-		$	-		$	-
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Distributions	$	(6,705	)	$	(5,364	)	$	-		$	(8,938	)	$	(3,903	)	$	(6,236	)	$	(5,303	)	$	(9,186	)	$	(1,861	)
Net income (loss)	$	1,187		$	990		$	(16,277	)	$	3,360		$	965		$	1,784		$	(1,904	)	$	3,777		$	(2,757	)
Balance at June 30, 2025	$	178,194		$	259,219		$	300,680		$	363,280		$	196,559		$	281,814		$	262,945		$	309,993		$	192,413

F-51

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	$	339,662		$	336,641		$	285,579		$	339,479		$	210,312		$	(16,120	)	$	296,012		$	321,970		$	289,911
Issuance of membership units, net of offering costs	$	-		$	-		$	-		$	-		$	-		$	265,302		$	-		$	-		$	-
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	4,914		$	-		$	-		$	-
Distributions	$	(8,721	)	$	(7,138	)	$	(7,846	)	$	(7,720	)	$	(3,536	)	$	(2,895	)	$	(7,481	)	$	(8,548	)	$	(6,426	)
Net income (loss)	$	1,428		$	2,007		$	1,535		$	2,559		$	3,809		$	(8,263	)	$	(790	)	$	2,658		$	(1,168	)
Balance at June 30, 2025	$	332,369		$	331,511		$	279,268		$	334,318		$	210,585		$	242,939		$	287,741		$	316,080		$	282,318

F-52

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	$	340,419		$	348,264		$	345,099		$	186,229		$	317,949		$	316,161		$	231,698		$	174,504		$	(10,312	)
Issuance of membership units, net of offering costs	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	420,629
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	5,657
Distributions	$	(9,123	)	$	(8,550	)	$	(10,119	)	$	(6,238	)	$	(7,937	)	$	(7,638	)	$	(6,291	)	$	(6,349	)	$	(1,499	)
Net income (loss)	$	4,238		$	3,228		$	2,727		$	1,969		$	3,737		$	2,458		$	2,169		$	1,757		$	(14,672	)
Balance at June 30, 2025	$	335,535		$	342,942		$	337,707		$	181,960		$	313,748		$	310,980		$	227,576		$	169,911		$	399,803

F-53

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	$	236,674		$	316,489		$	217,221		$	(4,828	)	$	263,763		$	357,285		$	180,288		$	243,218		$	212,230
Issuance of membership units, net of offering costs	$	-		$	-		$	-		$	271,251		$	-		$	-		$	-		$	-		$	-
Deemed contribution from Manager	$	-		$	-		$	-		$	6,525		$	-		$	-		$	-		$	-		$	-
Distributions	$	(4,789	)	$	(3,039	)	$	(4,266	)	$	(1,904	)	$	(7,997	)	$	(9,980	)	$	(5,609	)	$	(3,941	)	$	(6,760	)
Net income (loss)	$	1,862		$	(3,434	)	$	(5,525	)	$	(26,588	)	$	3,798		$	747		$	2,679		$	2,393		$	3,550
Balance at June 30, 2025	$	233,747		$	310,016		$	207,430		$	244,456		$	259,564		$	348,052		$	177,358		$	241,670		$	209,019

F-54

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	$	294,597		$	161,138		$	245,758		$	241,137		$	323,837		$	171,186		$	23,873,224
Issuance of membership units, net of offering costs	$	-		$	-		$	-		$	-		$	-		$	-		$	2,711,403
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	-		$	28,006
Distributions	$	(8,300	)	$	(4,394	)	$	(330	)	$	(6,652	)	$	(3,121	)	$	(5,537	)	$	(569,798	)
Net income (loss)	$	(6,512	)	$	1,705		$	(8,596	)	$	2,927		$	(5,339	)	$	1,676		$	(19,080	)
Balance at June 30, 2025	$	279,785		$	158,449		$	236,833		$	237,413		$	315,377		$	167,325		$	26,023,756

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

F-55

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	$	319,898		$	305,955		$	255,800		$	189,707		$	271,438		$	304,549		$	329,476		$	305,397		$	216,679
Issuance of membership units, net of offering costs		-			650			-			-			(100	)		762			289			-			-
Deemed contribution from Manager		-			-			-			-			-			-			-			-			-
Distributions		(7,137	)		(6,806	)		(6,519	)		(5,080	)		(4,061	)		(7,557	)		(7,963	)		(8,287	)		(6,277	)
Net income (loss)		1,889			997			2,391			831			(7,701	)		(413	)		967			788			1,963
Balance at June 30, 2024	$	314,651		$	300,796		$	251,671		$	185,457		$	259,577		$	297,340		$	322,769		$	297,898		$	212,365

F-56

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	$	258,203		$	318,328		$	211,130		$	324,785		$	282,410		$	288,572		$	246,877		$	273,042		$	314,213
Issuance of membership units, net of offering costs		(300	)		-			-			-			(300	)		(300	)		-			-			-
Deemed contribution from Manager		-			-			-			-			-			-			-			-			-
Distributions		(6,616	)		(8,202	)		(5,381	)		(7,263	)		(6,576	)		(6,886	)		(5,463	)		(7,425	)		(5,790	)
Net income (loss)		546			3,092			2,304			2,053			1,949			1,008			(3,612	)		(485	)		(179	)
Balance at June 30, 2024	$	251,833		$	313,217		$	208,054		$	319,576		$	277,483		$	282,394		$	237,802		$	265,132		$	308,244

F-57

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	$	333,585		$	246,890		$	321,701		$	287,156		$	293,548		$	299,850		$	250,360		$	195,283		$	(3,010	)
Issuance of membership units, net of offering costs		-			(300	)		-			-			(100	)		-			-			-			304,290
Deemed contribution from Manager		-			-			-			-			-			-			-			-			-
Distributions		(9,451	)		(6,649	)		(7,725	)		(8,852	)		(2,462	)		(7,532	)		(5,229	)		(3,877	)		(7,791	)
Net income (loss)		6,012			(1,808	)		2,169			3,411			(9,187	)		(3,902	)		1,058			(2,148	)		(551	)
Balance at June 30, 2024	$	330,145		$	238,132		$	316,146		$	281,714		$	281,799		$	288,416		$	246,189		$	189,257		$	292,937

F-58

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	$	(2,974	)	$	268,739		$	257,206		$	262,776		$	275,115		$	406,226		$	179,568		$	230,845		$	382,626
Issuance of membership units, net of offering costs		310,787			-			-			(300	)		(800	)		-			-			-			-
Deemed contribution from Manager		5,510			-			-			-			-			-			-			-			-
Distributions		(1,311	)		(7,245	)		(6,659	)		(7,693	)		(6,664	)		(9,434	)		(2,871	)		(3,464	)		(8,111	)
Net income (loss)		(6,149	)		2,086			2,362			4,982			2,394			2,436			602			9,128			(2,778	)
Balance at June 30, 2024	$	305,863		$	263,580		$	252,909		$	259,765		$	270,044		$	399,228		$	177,299		$	236,509		$	371,738

F-59

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	$	382,695		$	267,521		$	316,341		$	184,876		$	-		$	366,522		$	-		$	346,216		$	264,873
Issuance of membership units, net of offering costs		-			-			-			-			-			-			364,707			-			658
Deemed contribution from Manager		-			-			-			-			-			-			6,988			-			-
Distributions		(4,900	)		(6,811	)		(2,178	)		(5,814	)		-			(8,461	)		(1,457	)		(8,805	)		(5,367	)
Net income (loss)		(5,470	)		2,981			(4,723	)		3,277			(3,621	)		(346	)		(12,076	)		(4,291	)		(3,429	)
Balance at June 30, 2024	$	372,325		$	263,691		$	309,440		$	182,339		$	(3,621	)	$	357,716		$	358,161		$	333,120		$	256,735

F-60

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	$	288,681		$	321,499		$	275,513		$	289,132		$	221,670		$	192,203		$	276,379		$	205,383		$	302,255
Issuance of membership units, net of offering costs		(300	)		-			-			-			549			-			-			-			-
Deemed contribution from Manager		3,192			-			-			-			-			-			-			-			-
Distributions		(5,471	)		(8,012	)		(8,036	)		(7,426	)		(6,880	)		(5,101	)		(6,941	)		(2,124	)		(4,802	)
Net income (loss)		(19,265	)		2,275			1,797			(155	)		97			(797	)		(509	)		(1,204	)		(5,163	)
Balance at June 30, 2024	$	266,837		$	315,762		$	269,274		$	281,552		$	215,436		$	186,305		$	268,928		$	202,055		$	292,290

F-61

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	$	(2,896	)	$	(4,381	)	$	206,903		$	355,515		$	349,607		$	(3,721	)	$	353,449		$	219,491		$	(3,470	)
Issuance of membership units, net of offering costs		295,804			-			-			-			-			302,613			-			(300	)		316,212
Deemed contribution from Manager		-			7,656			-			-			-			5,246			-			-			-
Distributions		(4,824	)		(1,369	)		(4,712	)		(8,447	)		(7,491	)		(1,242	)		(7,720	)		(6,950	)		(4,988	)
Net income (loss)		(8,121	)		(11,627	)		(2,493	)		(1,183	)		1,716			(13,104	)		1,267			2,581			(7,292	)
Balance at June 30, 2024	$	279,963		$	(9,722	)	$	199,698		$	345,885		$	343,833		$	289,792		$	346,996		$	214,822		$	300,462

F-62

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	$	340,241		$	301,731		$	351,576		$	(3,646	)	$	191,739		$	-		$	243,643		$	178,874		$	246,203
Issuance of membership units, net of offering costs		-			864			671			364,451			-			-			-			-			-
Deemed contribution from Manager		-			-			-			-			-			-			-			-			-
Distributions		(6,966	)		(6,882	)		(9,758	)		(9,135	)		(5,229	)		-			(7,517	)		(5,213	)		(7,026	)
Net income (loss)		(6,325	)		1,816			8,358			(373	)		2,354			(11,985	)		1,148			3,192			3,057
Balance at June 30, 2024	$	326,950		$	297,530		$	350,847		$	351,297		$	188,864		$	(11,985	)	$	237,275		$	176,854		$	242,233

F-63

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	$	328,603		$	225,638		$	274,145		$	(6,552	)	$	184,838		$	262,942		$	219,997		$	303,669		$	169,207
Issuance of membership units, net of offering costs		-			-			699			384,745			(300	)		(300	)		-			465			-
Deemed contribution from Manager		-			-			-			-			-			-			-			-			-
Distributions		(8,425	)		(6,515	)		(7,905	)		(7,069	)		(5,616	)		(7,919	)		(6,685	)		(9,073	)		(5,136	)
Net income (loss)		1,254			2,922			3,620			(8,415	)		3,515			1,188			3,246			3,121			1,486
Balance at June 30, 2024	$	321,433		$	222,044		$	270,559		$	362,708		$	182,438		$	255,910		$	216,558		$	298,182		$	165,557

F-64

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	$	258,538		$	248,596		$	(3,113	)	$	178,916		$	19,969,988
Issuance of membership units, net of offering costs		-			-			339,809			-			2,985,323
Deemed contribution from Manager		-			-			-			-			28,591
Distributions		(6,541	)		(5,160	)		(7,710	)		(5,437	)		(525,555	)
Net income (loss)		(2,618	)		1,575			(3,326	)		2,072			(59,492	)
Balance at June 30, 2024	$	249,378		$	245,011		$	325,660		$	175,551		$	22,398,855

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

F-65

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:
Net income (loss)	$	(2,145	)	$	2,282		$	1,876		$	919		$	2,228		$	4,603		$	(655	)	$	2,588		$	(5,150	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		4,197			4,257			4,123			3,245			2,466			3,679			4,578			4,208			4,807
(Increase) decrease in assets
Prepaid expenses		-			395			450			356			277			399			1,522			363			-
Due (from) to third party property managers		(3,436	)		(46	)		(193	)		589			46			(73	)		(1,227	)		40			(5,238	)
Increase (decrease) in liabilities
Accrued expenses		(1,943	)		(264	)		84			(1,143	)		(479	)		149			(3,460	)		(1,057	)		(1,622	)
Tenant deposits		250			-			-			-			-			-			-			-			2,745
Due to (from) related parties		3,493			1,080			1,042			845			(4,200	)		(374	)		1,873			1,100			7,258
Net cash provided by (used in) operating activities		416			7,704			7,382			4,811			338			8,384			2,631			7,242			2,800
Cash flows from investing activities
Purchases of property improvements		-			-			-			-			-			-			-			-			-
Net cash used in investing activities		-			-			-			-			-			-			-			-			-
Cash flows from financing activities
Repayments of amounts due to related party		(22,441	)		-			-			-			-			-			-			-			(26,715	)
Repayments of bridge financing, related party		(288,000	)		-			-			-			-			-			-			-			(328,683	)
Proceeds from notes payable, related party		-			-			-			-			6,000			-			-			-			-
Net proceeds from the issuance of membership units		334,077			-			-			-			-			-			-			-			380,478
Distributions		(6,568	)		(7,064	)		(5,924	)		(5,839	)		(4,091	)		(4,500	)		(5,050	)		(7,708	)		(5,878	)
Net cash provided by (used in) financing activities		17,069			(7,064	)		(5,924	)		(5,839	)		1,909			(4,500	)		(5,050	)		(7,708	)		19,202
Net change in cash		17,485			640			1,458			(1,028	)		2,248			3,883			(2,418	)		(466	)		22,002
Cash at beginning of period		-			12,203			7,204			23,313			2,277			3,249			9,313			24,025			-
Cash at end of period	$	17,485		$	12,843		$	8,663		$	22,286		$	4,524		$	7,133		$	6,895		$	23,559		$	22,002
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	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	5,136

F-66

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:
Net income (loss)	$	2,532		$	3,394		$	479		$	2,831		$	2,081		$	(9,908	)	$	2,253		$	1,857		$	(90	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		4,029			2,910			3,503			4,108			2,862			4,420			4,180			3,854			4,392
(Increase) decrease in assets
Prepaid expenses		450			310			940			440			346			-			356			334			1,252
Due (from) to third party property managers		26			(391	)		37			(48	)		(104	)		(6,417	)		-			1			171
Increase (decrease) in liabilities
Accrued expenses		(2,076	)		(1,119	)		910			684			(783	)		(1,591	)		(818	)		366			(3,848	)
Tenant deposits		-			-			-			-			-			4,390			-			-			-
Due to (from) related parties		986			1,495			956			1,036			1,053			6,651			1,237			(165	)		1,672
Net cash provided by (used in) operating activities		5,946			6,599			6,825			9,051			5,456			(2,456	)		7,209			6,247			3,549
Cash flows from investing activities
Purchases of property improvements		-			-			-			-			-			-			-			-			-
Net cash used in investing activities		-			-			-			-			-			-			-			-			-
Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-			-			(20,168	)		-			-			-
Repayments of bridge financing, related party		-			-			-			-			-			(308,000	)		-			-			-
Proceeds from notes payable, related party		-			-			-			-			-			-			-			-			-
Net proceeds from the issuance of membership units		-			-			-			-			-			353,436			-			-			-
Distributions		(7,230	)		(6,076	)		(4,265	)		(7,811	)		(5,454	)		(5,191	)		(7,263	)		(6,210	)		(5,728	)
Net cash provided by (used in) financing activities		(7,230	)		(6,076	)		(4,265	)		(7,811	)		(5,454	)		20,077			(7,263	)		(6,210	)		(5,728	)
Net change in cash		(1,284	)		523			2,559			1,240			2			17,621			(54	)		37			(2,180	)
Cash at beginning of period		11,429			7,455			3,024			19,029			5,720			-			22,583			6,608			8,432
Cash at end of period	$	10,145		$	7,979		$	5,584		$	20,269		$	5,722		$	17,621		$	22,529		$	6,645		$	6,253
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	$	-		$	-		$	-		$	-		$	-		$	5,775		$	-		$	-		$	-

F-67

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:
Net income (loss)	$	(172	)	$	527		$	(7,105	)	$	3,600		$	942		$	98		$	2,868		$	3,763		$	(11,666	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		3,437			4,811			4,124			4,471			3,232			4,666			3,860			4,225			3,948
(Increase) decrease in assets
Prepaid expenses		406			409			1,772			511			711			414			340			560			482
Due (from) to third party property managers		(2,349	)		179			4,991			(2,273	)		(1,075	)		(3,649	)		(41	)		383			505
Increase (decrease) in liabilities
Accrued expenses		417			200			1,965			(1,991	)		(123	)		(2,326	)		(1,536	)		(1,154	)		1,338
Tenant deposits		-			-			-			-			-			-			-			-			(2,445	)
Due to (from) related parties		1,824			1,232			1,100			1,296			1,198			1,349			1,029			1,075			7,865
Net cash provided by (used in) operating activities		3,564			7,358			6,847			5,615			4,885			551			6,520			8,853			29
Cash flows from investing activities
Purchases of property improvements		-			-			-			-			-			(5,140	)		-			-			-
Net cash used in investing activities		-			-			-			-			-			(5,140	)		-			-			-
Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-			-			-			-			-			-
Repayments of bridge financing, related party		-			-			-			-			-			-			-			-			-
Proceeds from notes payable, related party		-			-			-			-			-			-			-			-			-
Net proceeds from the issuance of membership units		-			-			-			-			-			-			-			-			-
Distributions		(2,261	)		(6,562	)		(3,467	)		(7,079	)		(2,947	)		(4,948	)		(7,394	)		(5,756	)		(971	)
Net cash provided by (used in) financing activities		(2,261	)		(6,562	)		(3,467	)		(7,079	)		(2,947	)		(4,948	)		(7,394	)		(5,756	)		(971	)
Net change in cash		1,302			795			3,381			(1,464	)		1,938			(9,537	)		(873	)		3,096			(942	)
Cash at beginning of period		1,152			5,838			11,778			12,661			-			24,688			14,543			6,894			4,683
Cash at end of period	$	2,454		$	6,634		$	15,159		$	11,197		$	1,938		$	15,151		$	13,669		$	9,990		$	3,741
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	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-

F-68

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:
Net income (loss)	$	(2,125	)	$	(972	)	$	4,101		$	1,114		$	1,572		$	945		$	(2,172	)	$	2,091		$	2,255
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		4,121			4,147			3,837			3,991			3,512			3,368			3,527			4,227			5,326
(Increase) decrease in assets
Prepaid expenses		426			344			376			418			376			738			403			477			406
Due (from) to third party property managers		2,283			(443	)		5			2,161			253			216			2,140			1,940			284
Increase (decrease) in liabilities
Accrued expenses		92			(145	)		(3,042	)		(1,277	)		(157	)		514			(3,060	)		(642	)		(3,657	)
Tenant deposits		(2,195	)		-			-			-			-			-			-			-			-
Due to (from) related parties		(935	)		472			983			2,021			919			1,355			996			(2,398	)		1,269
Net cash provided by (used in) operating activities		1,667			3,404			6,261			8,428			6,475			7,136			1,833			5,694			5,883
Cash flows from investing activities
Purchases of property improvements		-			-			-			-			-			-			-			-			-
Net cash used in investing activities		-			-			-			-			-			-			-			-			-
Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-			-			-			-			-			-
Repayments of bridge financing, related party		-			-			-			-			-			-			-			-			-
Proceeds from notes payable, related party		-			-			-			-			-			-			-			-			-
Net proceeds from the issuance of membership units		-			-			-			-			-			-			-			-			-
Distributions		(3,021	)		(2,686	)		(9,895	)		(7,293	)		(6,819	)		(6,311	)		(6,094	)		(7,418	)		(9,433	)
Net cash provided by (used in) financing activities		(3,021	)		(2,686	)		(9,895	)		(7,293	)		(6,819	)		(6,311	)		(6,094	)		(7,418	)		(9,433	)
Net change in cash		(1,354	)		718			(3,634	)		1,135			(345	)		824			(4,261	)		(1,724	)		(3,550	)
Cash at beginning of period		3,176			3,281			19,302			18,053			14,335			10,753			13,581			7,665			18,728
Cash at end of period	$	1,822		$	3,999		$	15,668		$	19,188		$	13,990		$	11,577		$	9,320		$	5,940		$	15,178
Cash paid for income taxes	$	-		$	-		$	202		$	-		$	200		$	495		$	1,350		$	250		$	950
Cash paid for interest expenses	$	6,314		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Supplemental disclosure of non-cash investing and financing activities:
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-

F-69

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:
Net income (loss)	$	2,529		$	1,227		$	(5,837	)	$	5,363		$	1,511		$	597		$	(7,580	)	$	3,719		$	3,878
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		2,549			3,225			4,931			5,336			3,462			5,914			2,419			4,510			4,784
(Increase) decrease in assets
Prepaid expenses		315			386			394			394			707			464			274			-			539
Due (from) to third party property managers		650			(50	)		(1,991	)		453			370			(516	)		4,068			(159	)		(2,147	)
Increase (decrease) in liabilities
Accrued expenses		(727	)		1,500			1,301			(357	)		(410	)		(630	)		(1,319	)		(2,900	)		(3,525	)
Tenant deposits		-			-			3,990			-			-			-			(1,395	)		-			-
Due to (from) related parties		(4,815	)		902			1,006			1,184			1,420			(7,014	)		681			1,248			1,202
Net cash provided by (used in) operating activities		501			7,190			3,794			12,373			7,061			(1,186	)		(2,851	)		6,417			4,731
Cash flows from investing activities
Purchases of property improvements		-			-			-			(6,073	)		-			-			-			-			-
Net cash used in investing activities		-			-			-			(6,073	)		-			-			-			-			-
Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-			-			-			-			-			-
Repayments of bridge financing, related party		-			-			-			-			-			-			-			-			-
Proceeds from notes payable, related party		5,700			-			-			-			-			7,700			-			-			-
Net proceeds from the issuance of membership units		-			-			-			-			-			-			-			-			-
Distributions		(4,242	)		(6,402	)		(4,984	)		(7,097	)		(6,510	)		(5,408	)		(3,076	)		(8,429	)		(8,621	)
Net cash provided by (used in) financing activities		1,458			(6,402	)		(4,984	)		(7,097	)		(6,510	)		2,292			(3,076	)		(8,429	)		(8,621	)
Net change in cash		1,959			787			(1,190	)		(797	)		551			1,106			(5,928	)		(2,011	)		(3,890	)
Cash at beginning of period		2,123			6,658			18,262			16,561			15,946			6,549			12,837			23,239			16,296
Cash at end of period	$	4,082		$	7,446		$	17,072		$	15,764		$	16,497		$	7,655		$	6,909		$	21,227		$	12,406
Cash paid for income taxes	$	-		$	200		$	402		$	948		$	-		$	-		$	153		$	450		$	851
Cash paid for interest expenses	$	-		$	-		$	-		$	-		$	191		$	-		$	7,746		$	-		$	-
Supplemental disclosure of non-cash investing and financing activities:
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-

F-70

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:
Net income (loss)	$	(3,108	)	$	3,322		$	1,993		$	(1,145	)	$	(1,162	)	$	1,734		$	(9,383	)	$	1,046		$	2,725
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		4,559			4,631			4,453			5,545			4,963			4,144			4,070			4,286			2,862
(Increase) decrease in assets
Prepaid expenses		-			482			506			1,100			414			415			1,292			1,370			355
Due (from) to third party property managers		(4,557	)		80			(12	)		23			(149	)		23			(2,002	)		(67	)		1,352
Increase (decrease) in liabilities
Accrued expenses		(4,316	)		(2,777	)		(2,926	)		(2,201	)		1,056			(2,770	)		(3,330	)		(3,734	)		(1,057	)
Tenant deposits		-			-			-			-			-			-			2,395			-			-
Due to (from) related parties		5,318			1,167			1,097			1,033			1,137			1,040			899			1,712			875
Net cash provided by (used in) operating activities		(2,103	)		6,905			5,111			4,355			6,259			4,586			(6,059	)		4,613			7,112
Cash flows from investing activities
Purchases of property improvements		-			-			-			-			-			-			-			-			-
Net cash used in investing activities		-			-			-			-			-			-			-			-			-
Cash flows from financing activities
Repayments of amounts due to related party		(20,434	)		-			-			-			-			-			-			-			-
Repayments of bridge financing, related party		(318,000	)		-			-			-			-			-			-			-			-
Proceeds from notes payable, related party		-			-			-			-			-			-			-			-			-
Net proceeds from the issuance of membership units		362,757			-			-			-			-			-			-			-			-
Distributions		(8,111	)		(9,804	)		(9,035	)		(4,204	)		(4,638	)		(9,401	)		(1,843	)		(6,216	)		(5,398	)
Net cash provided by (used in) financing activities		16,212			(9,804	)		(9,035	)		(4,204	)		(4,638	)		(9,401	)		(1,843	)		(6,216	)		(5,398	)
Net change in cash		14,109			(2,899	)		(3,924	)		151			1,621			(4,815	)		(7,902	)		(1,603	)		1,714
Cash at beginning of period		-			24,838			14,604			4,897			6,926			20,051			15,168			10,353			11,162
Cash at end of period	$	14,109		$	21,939		$	10,680		$	5,048		$	8,548		$	15,236		$	7,266		$	8,750		$	12,876
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	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-

F-71

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:
Net income (loss)	$	1,187		$	990		$	(16,277	)	$	3,360		$	965		$	1,784		$	(1,904	)	$	3,777		$	(2,757	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		2,466			4,492			3,340			4,723			4,173			3,872			3,535			4,222			3,455
(Increase) decrease in assets
Prepaid expenses		277			492			-			-			360			376			390			439			(580	)
Due (from) to third party property managers		760			34			1,617			(2,267	)		(423	)		103			(148	)		(314	)		84
Increase (decrease) in liabilities
Accrued expenses		(1,054	)		(832	)		(4,736	)		1,378			111			(3,569	)		(165	)		(2,774	)		(1,118	)
Tenant deposits		-			-			-			-			-			-			-			-			-
Due to (from) related parties		745			950			6,504			108			801			1,000			1,185			1,049			(758	)
Net cash provided by (used in) operating activities		4,382			6,126			(9,551	)		7,302			5,987			3,566			2,894			6,400			(1,673	)
Cash flows from investing activities
Purchases of property improvements		-			-			-			-			-			-			-			-			-
Net cash used in investing activities		-			-			-			-			-			-			-			-			-
Cash flows from financing activities
Repayments of amounts due to related party		-			-			(14,673	)		-			-			-			-			-			-
Repayments of bridge financing, related party		-			-			(284,000	)		-			-			-			-			-			-
Proceeds from notes payable, related party		-			-			-			-			-			-			-			-			-
Net proceeds from the issuance of membership units		-			-			322,979			495			-			-			-			-			-
Distributions		(6,705	)		(5,364	)		-			(8,938	)		(3,903	)		(6,236	)		(5,303	)		(9,186	)		(1,861	)
Net cash provided by (used in) financing activities		(6,705	)		(5,364	)		24,306			(8,443	)		(3,903	)		(6,236	)		(5,303	)		(9,186	)		(1,861	)
Net change in cash		(2,324	)		762			14,755			(1,141	)		2,084			(2,670	)		(2,409	)		(2,786	)		(3,534	)
Cash at beginning of period		10,940			4,306			-			25,490			4,362			16,387			19,278			18,656			4,155
Cash at end of period	$	8,616		$	5,068		$	14,755		$	24,349		$	6,446		$	13,717		$	16,869		$	15,870		$	621
Cash paid for income taxes	$	153		$	-		$	153		$	-		$	-		$	195		$	-		$	751		$	-
Cash paid for interest expenses	$	-		$	7,656		$	-		$	-		$	-		$	6,011		$	-		$	-		$	-
Supplemental disclosure of non-cash investing and financing activities:
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-

F-72

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:
Net income (loss)	$	1,428		$	2,007		$	1,535		$	2,559		$	3,809		$	(8,263	)	$	(790	)	$	2,658		$	(1,168	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		4,642			4,560			3,818			4,560			3,331			3,288			3,972			4,394			5,020
(Increase) decrease in assets
Prepaid expenses		539			406			414			406			319			-			414			415			455
Due (from) to third party property managers		(108	)		-			(15	)		-			(787	)		(3,336	)		800			597			(72	)
Increase (decrease) in liabilities
Accrued expenses		(3,535	)		(744	)		(3,329	)		(860	)		(1,333	)		(4,297	)		(3,417	)		(3,057	)		579
Tenant deposits		-			-			-			-			-			1,745			(1,098	)		-			-
Due to (from) related parties		1,131			1,350			1,002			1,340			961			4,468			1,024			1,094			1,192
Net cash provided by (used in) operating activities		4,097			7,579			3,425			8,005			6,301			(6,395	)		905			6,101			6,005
Cash flows from investing activities
Purchases of property improvements		-			-			-			-			(5,989	)		-			-			-			-
Net cash used in investing activities		-			-			-			-			(5,989	)		-			-			-			-
Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-			-			(15,196	)		-			-			-
Repayments of bridge financing, related party		-			-			-			-			-			(229,000	)		-			-			-
Proceeds from notes payable, related party		-			-			-			-			-			-			-			-			-
Net proceeds from the issuance of membership units		-			-			-			-			-			265,302			-			-			-
Distributions		(8,721	)		(7,138	)		(7,846	)		(7,720	)		(3,536	)		(2,895	)		(7,481	)		(8,548	)		(6,426	)
Net cash provided by (used in) financing activities		(8,721	)		(7,138	)		(7,846	)		(7,720	)		(3,536	)		18,211			(7,481	)		(8,548	)		(6,426	)
Net change in cash		(4,624	)		442			(4,421	)		285			(3,224	)		11,816			(6,576	)		(2,447	)		(420	)
Cash at beginning of period		14,763			20,002			17,909			22,874			8,984			-			17,393			14,030			7,240
Cash at end of period	$	10,139		$	20,443		$	13,488		$	23,159		$	5,760		$	11,816		$	10,817		$	11,584		$	6,820
Cash paid for income taxes	$	825		$	682		$	1,387		$	682		$	-		$	-		$	708		$	782		$	250
Cash paid for interest expenses	$	-		$	-		$	-		$	-		$	-		$	7,917		$	-		$	-		$	-
Supplemental disclosure of non-cash investing and financing activities:
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	4,914		$	-		$	-		$	-

F-73

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:
Net income (loss)	$	4,238		$	3,228		$	2,727		$	1,969		$	3,737		$	2,458		$	2,169		$	1,757		$	(14,672	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		4,604			4,409			4,582			2,466			4,014			4,057			3,215			2,398			5,872
(Increase) decrease in assets
Prepaid expenses		(788	)		-			527			277			418			-			351			276			-
Due (from) to third party property managers		(3,250	)		(850	)		58			62			(2,059	)		(844	)		(69	)		811			(2,596	)
Increase (decrease) in liabilities
Accrued expenses		(3,343	)		(1,055	)		(3,592	)		(657	)		(588	)		(842	)		(3,064	)		(1,267	)		(12,174	)
Tenant deposits		-			250			-			-			-			-			-			-			-
Due to (from) related parties		1,314			4,840			1,126			724			9,003			1,740			996			719			10,602
Net cash provided by (used in) operating activities		2,775			10,823			5,427			4,841			14,524			6,568			3,599			4,694			(12,969	)
Cash flows from investing activities
Purchases of property improvements		-			-			-			-			-			-			-			-			-
Net cash used in investing activities		-			-			-			-			-			-			-			-			-
Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-			-			-			-			-			(26,324	)
Repayments of bridge financing, related party		-			-			-			-			-			-			-			-			(362,000	)
Proceeds from notes payable, related party		-			-			-			-			-			-			-			-			-
Net proceeds from the issuance of membership units		-			-			-			-			-			-			-			-			420,629
Distributions		(9,123	)		(8,550	)		(10,119	)		(6,238	)		(7,937	)		(7,638	)		(6,291	)		(6,349	)		(1,499	)
Net cash provided by (used in) financing activities		(9,123	)		(8,550	)		(10,119	)		(6,238	)		(7,937	)		(7,638	)		(6,291	)		(6,349	)		30,806
Net change in cash		(6,348	)		2,272			(4,692	)		(1,397	)		6,587			(1,069	)		(2,693	)		(1,656	)		17,837
Cash at beginning of period		22,621			24,787			23,357			13,296			23,488			23,414			14,858			8,977			-
Cash at end of period	$	16,273		$	27,059		$	18,665		$	11,900		$	30,074		$	22,344		$	12,165		$	7,321		$	17,837
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	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	5,657

F-74

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:
Net income (loss)	$	1,862		$	(3,434	)	$	(5,525	)	$	(26,588	)	$	3,798		$	747		$	2,679		$	2,393		$	3,550
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		3,330			4,476			3,015			3,332			3,579			4,862			2,419			3,508			2,864
(Increase) decrease in assets
Prepaid expenses		671			970			285			-			349			357			274			344			346
Due (from) to third party property managers		(968	)		2,947			1,973			(3,939	)		(89	)		846			28			(3,521	)		(378	)
Increase (decrease) in liabilities
Accrued expenses		(86	)		252			(553	)		(1,934	)		(3,620	)		(874	)		(1,300	)		(1,881	)		(944	)
Tenant deposits		-			(2,395	)		-			2,250			-			-			-			-			-
Due to (from) related parties		1,352			(829	)		576			10,015			1,049			1,191			723			1,160			987
Net cash provided by (used in) operating activities		6,162			1,986			(229	)		(16,863	)		5,065			7,130			4,824			2,004			6,425
Cash flows from investing activities
Purchases of property improvements		-			-			-			-			-			-			-			-			-
Net cash used in investing activities		-			-			-			-			-			-			-			-			-
Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			(15,430	)		-			-			-			-			-
Repayments of bridge financing, related party		-			-			-			(232,000	)		-			-			-			-			-
Proceeds from notes payable, related party		-			-			-			-			-			-			-			-			-
Net proceeds from the issuance of membership units		-			-			-			271,251			-			-			-			-			-
Distributions		(4,789	)		(3,039	)		(4,266	)		(1,904	)		(7,997	)		(9,980	)		(5,609	)		(3,941	)		(6,760	)
Net cash provided by (used in) financing activities		(4,789	)		(3,039	)		(4,266	)		21,917			(7,997	)		(9,980	)		(5,609	)		(3,941	)		(6,760	)
Net change in cash		1,373			(1,053	)		(4,494	)		5,054			(2,932	)		(2,851	)		(785	)		(1,937	)		(335	)
Cash at beginning of period		6,370			6,633			9,480			-			19,226			15,649			14,142			6,388			14,689
Cash at end of period	$	7,743		$	5,580		$	4,986		$	5,054		$	16,294		$	12,798		$	13,357		$	4,451		$	14,353
Cash paid for income taxes	$	-		$	250		$	200		$	-		$	-		$	153		$	153		$	-		$	-
Cash paid for interest expenses	$	-		$	-		$	-		$	-		$	35,834		$	-		$	-		$	-		$	-
Supplemental disclosure of non-cash investing and financing activities:
Deemed contribution from Manager	$	-		$	-		$	-		$	6,525		$	-		$	-		$	-		$	-		$	-

F-75

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:
Net income (loss)	$	(6,512	)	$	1,705		$	(8,596	)	$	2,927		$	(5,339	)	$	1,676		$	(19,080	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		3,940			2,927			3,504			4,024			4,257			2,241			379,050
(Increase) decrease in assets
Prepaid expenses		(868	)		298			301			483			461			302			37,925
Due (from) to third party property managers		2,074			(159	)		1,283			100			(3,006	)		78			(30,319	)
Increase (decrease) in liabilities
Accrued expenses		(3,131	)		(755	)		850			318			215			(787	)		(135,281	)
Tenant deposits		-			-			(1,695	)		-			1,745			-			8,538
Due to (from) related parties		1,001			199			2,551			(4,758	)		1,240			693			133,140
Net cash provided by (used in) operating activities		(3,497	)		4,215			(1,801	)		3,095			(428	)		4,202			373,973
Cash flows from investing activities
Purchases of property improvements		-			-			-			-			-			-			(17,202	)
Net cash used in investing activities		-			-			-			-			-			-			(17,202	)
Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-			-			-			(161,381	)
Repayments of bridge financing, related party		-			-			-			-			-			-			(2,349,683	)
Proceeds from notes payable, related party		-			-			-			5,800			-			-			25,200
Net proceeds from the issuance of membership units		-			-			-			-			-			-			2,711,403
Distributions		(8,300	)		(4,394	)		(330	)		(6,652	)		(3,121	)		(5,537	)		(569,798	)
Net cash provided by (used in) financing activities		(8,300	)		(4,394	)		(330	)		(852	)		(3,121	)		(5,537	)		(344,259	)
Net change in cash		(11,797	)		(179	)		(2,131	)		2,243			(3,549	)		(1,335	)		12,513
Cash at beginning of period		20,047			4,751			4,408			4,051			22,986			15,987			1,129,818
Cash at end of period	$	8,250		$	4,572		$	2,277		$	6,294		$	19,438		$	14,652		$	1,142,331
Cash paid for income taxes	$	-		$	-		$	200		$	-		$	-		$	-		$	25,771
Cash paid for interest expenses	$	-		$	-		$	-		$	-		$	-		$	-		$	71,668
Supplemental disclosure of non-cash investing and financing activities:
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	-		$	28,006

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

F-76

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:
Net income (loss)	$	1,889		$	997		$	2,391		$	831		$	(7,701	)	$	(413	)	$	967		$	788		$	1,963
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		4,257			4,123			3,245			2,466			3,679			4,578			4,208			4,029			2,910
(Increase) decrease in assets
Prepaid expenses		(104	)		(101	)		(82	)		-			(234	)		(101	)		(102	)		-			(196	)
Deposits		(2,395	)		(3,790	)		(1,595	)		(1,395	)		(1,795	)		(4,190	)		-			(2,145	)		(1,695	)
Due (from) to third party property managers		(1,871	)		(1,720	)		(1,431	)		(1,415	)		(2,164	)		(738	)		(1,925	)		(80	)		(1,685	)
Increase (decrease) in liabilities
Accrued expenses		4,788			4,738			4,130			2,669			4,557			5,796			4,809			6,022			3,361
Accounts payable		-			-			-			-			-			-			-			-			-
Tenant Deposits		2,395			3,790			1,595			1,395			1,795			4,190			-			2,145			1,695
Due to (from) related parties		(1,653	)		(7,150	)		(1,988	)		(7,697	)		454			(9,124	)		(2,007	)		(3,232	)		(4,888	)
Net cash provided by (used in) operating activities		7,307			887			6,265			(3,145	)		(1,409	)		(2	)		5,949			7,527			1,465
Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-			-			-			-			-			-
Net proceeds from the issuance of membership units		-			650			-			-			(100	)		762			289			-			-
Distributions		(7,137	)		(6,806	)		(6,519	)		(5,080	)		(4,061	)		(7,557	)		(7,963	)		(8,287	)		(6,277	)
Net cash provided by (used in) financing activities		(7,137	)		(6,156	)		(6,519	)		(5,080	)		(4,161	)		(6,795	)		(7,674	)		(8,287	)		(6,277	)
Net change in cash		169			(5,269	)		(254	)		(8,225	)		(5,569	)		(6,797	)		(1,725	)		(760	)		(4,812	)
Cash at beginning of period		16,454			17,696			26,399			19,482			9,587			22,229			30,661			17,617			15,006
Cash at end of period	$	16,623		$	12,427		$	26,145		$	11,256		$	4,018		$	15,432		$	28,936		$	16,857		$	10,194
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	$	310,000		$	300,000		$	237,000		$	180,000		$	267,750		$	290,000		$	307,000		$	292,720		$	211,650
Mortgage payable, net of capitalized loan costs for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-

F-77

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:
Net income (loss)	$	546		$	3,092		$	2,304		$	2,053		$	1,949		$	1,008		$	(3,612	)	$	(485	)	$	(179	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		3,503			4,108			2,862			4,180			3,854			4,392			3,437			4,811			4,124
(Increase) decrease in assets
Prepaid expenses		(952	)		(101	)		(769	)		(102	)		(257	)		(95	)		(607	)		(258	)		-
Deposits		(1,795	)		(2,345	)		-			(2,145	)		(1,795	)		(2,095	)		(1,695	)		(1,795	)		(1,795	)
Due (from) to third party property managers		(1,708	)		(1,968	)		(2,558	)		(1,784	)		(2,035	)		(1,883	)		(1,683	)		(2,830	)		(1,810	)
Increase (decrease) in liabilities
Accrued expenses		4,638			4,784			3,678			5,576			4,145			5,099			3,541			4,350			4,678
Accounts payable		-			-			-			-			-			-			-			-			-
Tenant Deposits		1,795			2,345			-			2,145			1,795			2,095			1,695			1,795			1,795
Due to (from) related parties		(3,011	)		2,429			(7,608	)		5,381			(4,462	)		(1,539	)		3,992			(7,408	)		(739	)
Net cash provided by (used in) operating activities		3,017			12,344			(2,092	)		15,305			3,194			6,981			5,068			(1,821	)		6,075
Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-			-			-			-			-			-
Net proceeds from the issuance of membership units		(300	)		-			-			-			(300	)		(300	)		-			-			-
Distributions		(6,616	)		(8,202	)		(5,381	)		(7,263	)		(6,576	)		(6,886	)		(5,463	)		(7,425	)		(5,790	)
Net cash provided by (used in) financing activities		(6,916	)		(8,202	)		(5,381	)		(7,263	)		(6,876	)		(7,186	)		(5,463	)		(7,425	)		(5,790	)
Net change in cash		(3,900	)		4,142			(7,473	)		8,043			(3,682	)		(204	)		(395	)		(9,246	)		285
Cash at beginning of period		12,309			22,871			15,852			20,297			13,170			11,462			10,861			20,502			19,632
Cash at end of period	$	8,409		$	27,013		$	8,379		$	28,340		$	9,487		$	11,258		$	10,466		$	11,257		$	19,917
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	$	255,000		$	300,000		$	208,000		$	305,000		$	280,500		$	279,900		$	250,000		$	255,000		$	300,000
Mortgage payable, net of capitalized loan costs for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-

F-78

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:
Net income (loss)	$	6,012		$	(1,808	)	$	2,169		$	3,411		$	(9,187	)	$	(3,902	)	$	1,058		$	(2,148	)	$	(551	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		4,471			3,232			4,152			3,860			4,225			3,948			4,121			3,277			3,198
(Increase) decrease in assets
Prepaid expenses		(673	)		(79	)		-			(161	)		(384	)		-			(261	)		(138	)		-
Deposits		(2,495	)		(3,143	)		(2,345	)		(2,495	)		(2,995	)		(2,445	)		(2,195	)		(1,475	)		(2,245	)
Due (from) to third party property managers		(2,447	)		(1,068	)		(2,233	)		(2,002	)		(2,345	)		1,027			(1,112	)		(351	)		(1,921	)
Increase (decrease) in liabilities
Accrued expenses		5,508			3,692			5,527			4,757			3,993			5,743			3,062			2,475			4,660
Accounts payable		-			-			-			-			-			1,027			-			-			-
Tenant Deposits		2,495			3,143			2,345			2,495			2,995			2,445			2,195			1,475			2,245
Due to (from) related parties		(1,026	)		(2,012	)		18,569			242			8,219			(4,900	)		(3,597	)		2,237			48,436
Net cash provided by (used in) operating activities		11,844			1,956			28,183			10,108			4,521			2,943			3,271			5,351			53,822
Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-			-			-			-			-			(329,360	)
Net proceeds from the issuance of membership units		-			(300	)		-			-			(100	)		-			-			-			304,290
Distributions		(9,451	)		(6,649	)		(7,725	)		(8,852	)		(2,462	)		(7,532	)		(5,229	)		(3,877	)		(7,791	)
Net cash provided by (used in) financing activities		(9,451	)		(6,949	)		(7,725	)		(8,852	)		(2,562	)		(7,532	)		(5,229	)		(3,877	)		(32,862	)
Net change in cash		2,393			(4,994	)		20,459			1,256			1,959			(4,589	)		(1,958	)		1,474			20,960
Cash at beginning of period		20,622			17,900			2,979			19,302			7,769			17,548			5,191			2,375			-
Cash at end of period	$	23,015		$	12,906		$	23,438		$	20,558		$	9,728		$	12,958		$	3,234		$	3,849		$	20,960
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	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	277,990
Acquisition of property	$	323,840		$	234,500		$	301,000		$	255,000		$	310,000		$	286,660		$	250,000		$	193,000		$	277,990
Mortgage payable, net of capitalized loan costs for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-

F-79

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:
Net income (loss)	$	(6,149	)	$	2,086		$	2,362		$	4,982		$	2,394		$	2,436		$	602		$	9,128		$	(2,778	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		3,991			3,512			3,368			3,527			4,227			5,326			2,549			3,225			4,931
(Increase) decrease in assets
Prepaid expenses		-			(176	)		-			(635	)		(93	)		-			(882	)		(257	)		-
Deposits		(3,990	)		(1,895	)		(1,795	)		(2,095	)		(2,045	)		(2,495	)		-			(1,745	)		(2,095	)
Due (from) to third party property managers		(1,927	)		(1,750	)		(1,762	)		(2,018	)		(2,165	)		(2,246	)		670			(1,917	)		(2,012	)
Increase (decrease) in liabilities
Accrued expenses		4,276			4,963			4,699			5,540			4,024			5,722			889			3,563			6,001
Accounts payable		-			-			-			-			-			-			670			-			-
Tenant Deposits		3,990			1,895			1,795			2,095			2,045			2,495			-			1,745			2,095
Due to (from) related parties		36,269			992			(2,919	)		(2,289	)		(144	)		(802	)		(10,392	)		(2,517	)		(237	)
Net cash provided by (used in) operating activities		36,460			9,628			5,747			9,107			8,243			10,437			(5,894	)		11,224			5,904
Cash flows from financing activities
Repayments of amounts due to related party		(327,517	)		-			-			-			-			-			-			-			-
Net proceeds from the issuance of membership units		310,787			-			-			(300	)		(800	)		-			-			-			-
Distributions		(1,311	)		(7,245	)		(6,659	)		(7,693	)		(6,664	)		(9,434	)		(2,871	)		(3,464	)		(8,111	)
Net cash provided by (used in) financing activities		(18,041	)		(7,245	)		(6,659	)		(7,993	)		(7,464	)		(9,434	)		(2,871	)		(3,464	)		(8,111	)
Net change in cash		18,419			2,382			(912	)		1,114			779			1,003			(8,765	)		7,760			(2,206	)
Cash at beginning of period		-			17,148			18,832			14,963			7,185			20,323			8,774			4,238			25,648
Cash at end of period	$	18,419		$	19,530		$	17,920		$	16,077		$	7,963		$	21,325		$	9		$	11,998		$	23,442
Cash paid for income taxes	$	101		$	-		$	409		$	-		$	-		$	172		$	167		$	-		$	-
Cash paid for interest expenses	$	6,314		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Supplemental disclosure of non-cash investing and financing activities:
Advance from related party for acquisition of property	$	290,000		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Acquisition of property	$	290,000		$	255,000		$	244,600		$	256,280		$	270,000		$	387,500		$	185,000		$	234,600		$	360,000
Mortgage payable, net of capitalized loan costs for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Deemed contribution from Manager	$	5,510		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-

F-80

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:
Net income (loss)	$	(5,470	)	$	2,981		$	(4,723	)	$	3,277		$	(3,621	)	$	(346	)	$	(12,076	)	$	(4,291	)	$	(3,429	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		4,931			3,462			5,914			2,419			-			3,987			3,087			4,453			4,170
(Increase) decrease in assets
Prepaid expenses		-			(84	)		(1,320	)		(110	)		-			-			-			-			(86	)
Deposits		(1,995	)		(2,095	)		-			(1,395	)		-			(2,295	)		(2,295	)		(2,695	)		(2,395	)
Due (from) to third party property managers		(1,516	)		(1,788	)		500			(1,454	)		2,723			(2,286	)		(1,769	)		(2,263	)		14,151
Increase (decrease) in liabilities
Accrued expenses		4,948			5,066			2,061			2,956			906			6,336			4,451			5,196			3,629
Accounts payable		-			-			500			-			2,723			-			-			-			14,151
Tenant Deposits		1,995			2,095			-			1,395			-			2,295			2,295			2,695			2,395
Due to (from) related parties		(227	)		731			(19,976	)		(2,610	)		(2,729	)		(725	)		(217,197	)		(1,749	)		(24,833	)
Net cash provided by (used in) operating activities		2,666			10,368			(17,042	)		4,477			-			6,967			(223,505	)		1,346			7,753
Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-			-			-			(115,653	)		-			-
Net proceeds from the issuance of membership units		-			-			-			-			-			-			364,707			-			658
Distributions		(4,900	)		(6,811	)		(2,178	)		(5,814	)		-			(8,461	)		(1,457	)		(8,805	)		(5,367	)
Net cash provided by (used in) financing activities		(4,900	)		(6,811	)		(2,178	)		(5,814	)		-			(8,461	)		247,597			(8,805	)		(4,709	)
Net change in cash		(2,234	)		3,557			(19,220	)		(1,336	)		-			(1,494	)		24,092			(7,459	)		3,044
Cash at beginning of period		25,648			18,024			20,497			16,072			-			20,391			-			25,430			8,847
Cash at end of period	$	23,414		$	21,581		$	1,278		$	14,736		$	-		$	18,897		$	24,092		$	17,971		$	11,891
Cash paid for income taxes	$	-		$	416		$	50		$	-		$	-		$	155		$	-		$	163		$	-
Cash paid for interest expenses	$	-		$	-		$	-		$	-		$	191		$	-		$	7,746		$	-		$	-
Supplemental disclosure of non-cash investing and financing activities:
Advance from related party for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-		$	335,245		$	-		$	-
Acquisition of property	$	360,000		$	254,340		$	310,000		$	176,290		$	326,070		$	346,780		$	335,245		$	323,670		$	250,000
Mortgage payable, net of capitalized loan costs for acquisition of property	$	-		$	-		$	-		$	-		$	305,663		$	-		$	-		$	-		$	-
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	-		$	6,988		$	-		$	-

F-81

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:
Net income (loss)	$	(19,265	)	$	2,275		$	1,797		$	(155	)	$	97		$	(797	)	$	(509	)	$	(1,204	)	$	(5,163	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		4,426			4,144			3,503			4,286			2,862			2,466			4,206			3,267			3,872
(Increase) decrease in assets
Prepaid expenses		(260	)		-			(87	)		(94	)		(123	)		-			(181	)		(129	)		-
Deposits		(3,990	)		(2,345	)		(2,495	)		(2,445	)		(2,195	)		(2,690	)		(1,850	)		(2,468	)		(1,895	)
Due (from) to third party property managers		(2,327	)		(2,041	)		(1,720	)		(1,403	)		(761	)		(1,344	)		(1,733	)		1,461			(1,696	)
Increase (decrease) in liabilities
Accrued expenses		3,553			4,977			5,802			5,862			4,373			4,034			4,542			2,872			4,636
Accounts payable		-			-			-			-			-			-			-			1,461			-
Tenant Deposits		3,990			2,345			2,495			2,445			2,195			2,690			1,850			2,468			1,895
Due to (from) related parties		10,834			(2,068	)		5,449			(1,890	)		(4,423	)		(5,207	)		(6,162	)		(2,390	)		(1,249	)
Net cash provided by (used in) operating activities		(3,038	)		7,288			14,744			6,606			2,026			(847	)		163			5,339			400
Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			-			-			-			-			-			-
Net proceeds from the issuance of membership units		(300	)		-			-			-			549			-			-			-			-
Distributions		(5,471	)		(8,012	)		(8,036	)		(7,426	)		(6,880	)		(5,101	)		(6,941	)		(2,124	)		(4,802	)
Net cash provided by (used in) financing activities		(5,771	)		(8,012	)		(8,036	)		(7,426	)		(6,331	)		(5,101	)		(6,941	)		(2,124	)		(4,802	)
Net change in cash		(8,810	)		(724	)		6,707			(821	)		(4,305	)		(5,948	)		(6,778	)		3,215			(4,401	)
Cash at beginning of period		18,089			23,293			14,661			16,032			22,147			19,502			14,399			9,225			22,111
Cash at end of period	$	9,279		$	22,569		$	21,369		$	15,211		$	17,842		$	13,554		$	7,621		$	12,440		$	17,710
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	$	283,050		$	301,130		$	255,000		$	275,000		$	208,000		$	180,000		$	265,000		$	205,000		$	281,990
Mortgage payable, net of capitalized loan costs for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Deemed contribution from Manager	$	3,192		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-

F-82

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:
Net income (loss)	$	(8,121	)	$	(11,627	)	$	(2,493	)	$	(1,183	)	$	1,716		$	(13,104	)	$	1,267		$	2,581		$	(7,292	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		2,946			4,222			3,455			3,868			4,560			3,182			4,560			2,932			3,972
(Increase) decrease in assets
Prepaid expenses		-			-			(1,190	)		-			(110	)		-			(110	)		(134	)		-
Deposits		(2,543	)		(2,445	)		(1,645	)		(2,795	)		(1,995	)		(2,145	)		(3,143	)		(2,693	)		(3,093	)
Due (from) to third party property managers		(1,363	)		(1,976	)		44			(2,271	)		(1,925	)		(1,944	)		(2,025	)		(1,295	)		(1,379	)
Increase (decrease) in liabilities
Accrued expenses		5,002			12,028			3,009			6,560			5,882			4,975			4,637			2,888			5,378
Accounts payable		-			-			44			-			-			-			-			-			-
Tenant Deposits		2,543			2,445			1,645			2,795			1,995			2,145			3,143			2,693			3,093
Due to (from) related parties		50,696			1,595			(16,296	)		(932	)		2,282			33,427			3,169			(3,536	)		46,945
Net cash provided by (used in) operating activities		49,160			4,242			(13,426	)		6,042			12,405			26,536			11,498			3,436			47,623
Cash flows from financing activities
Repayments of amounts due to related party		(313,097	)		-			-			-			-			(308,086	)		-			-			(338,607	)
Net proceeds from the issuance of membership units		295,804			-			-			-			-			302,613			-			(300	)		316,212
Distributions		(4,824	)		(1,369	)		(4,712	)		(8,447	)		(7,491	)		(1,242	)		(7,720	)		(6,950	)		(4,988	)
Net cash provided by (used in) financing activities		(22,117	)		(1,369	)		(4,712	)		(8,447	)		(7,491	)		(6,715	)		(7,720	)		(7,250	)		(27,383	)
Net change in cash		27,043			2,873			(18,138	)		(2,405	)		4,915			19,821			3,778			(3,815	)		20,240
Cash at beginning of period		-			474			20,957			19,914			20,883			-			23,895			15,915			-
Cash at end of period	$	27,043		$	3,348		$	2,819		$	17,509		$	25,798		$	19,821		$	27,673		$	12,100		$	20,240
Cash paid for income taxes	$	-		$	100		$	-		$	151		$	-		$	100		$	-		$	-		$	100
Cash paid for interest expenses	$	-		$	7,656		$	-		$	-		$	-		$	6,011		$	-		$	-		$	-
Supplemental disclosure of non-cash investing and financing activities:
Advance from related party for acquisition of property	$	269,900		$	-		$	-		$	-		$	-		$	276,105		$	-		$	-		$	288,620
Acquisition of property	$	269,900		$	307,000		$	200,000		$	336,420		$	332,500		$	276,105		$	332,500		$	213,000		$	288,620
Mortgage payable, net of capitalized loan costs for acquisition of property	$	-		$	291,650		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Deemed contribution from Manager	$	-		$	7,656		$	-		$	-		$	-		$	5,246		$	-		$	-		$	-

F-83

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:
Net income (loss)	$	(6,325	)	$	1,816		$	8,358		$	(373	)	$	2,354		$	(11,985	)	$	1,148		$	3,192		$	3,057
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		4,394			5,020			4,604			4,582			2,466			2,007			3,215			2,398			3,330
(Increase) decrease in assets
Prepaid expenses		-			(98	)		(111	)		-			-			-			(181	)		(64	)		(149	)
Deposits		(2,345	)		(1,995	)		(2,495	)		(2,545	)		(1,395	)		(3,243	)		(2,045	)		(1,395	)		(1,795	)
Due (from) to third party property managers		(1,804	)		(2,194	)		(2,404	)		(2,424	)		(1,383	)		(3,866	)		(1,015	)		(1,383	)		(749	)
Increase (decrease) in liabilities
Accrued expenses		5,204			4,687			1,497			5,068			3,258			9,806			4,252			3,963			3,627
Accounts payable		-			-			-			-			-			-			-			-			-
Tenant Deposits		2,345			1,995			2,495			2,545			1,395			3,243			2,045			1,395			1,795
Due to (from) related parties		(1,663	)		(728	)		1,404			58,496			(5,619	)		5,987			(882	)		(8,811	)		(3,578	)
Net cash provided by (used in) operating activities		(193	)		8,503			13,347			65,348			1,077			1,949			6,538			(705	)		5,538
Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			(394,422	)		-			(1,949	)		-			-			-
Net proceeds from the issuance of membership units		-			864			671			364,451			-			-			-			-			-
Distributions		(6,966	)		(6,882	)		(9,758	)		(9,135	)		(5,229	)		-			(7,517	)		(5,213	)		(7,026	)
Net cash provided by (used in) financing activities		(6,966	)		(6,018	)		(9,087	)		(39,106	)		(5,229	)		(1,949	)		(7,517	)		(5,213	)		(7,026	)
Net change in cash		(7,159	)		2,485			4,260			26,242			(4,152	)		-			(979	)		(5,917	)		(1,488	)
Cash at beginning of period		24,017			10,050			22,821			-			19,502			-			18,930			16,955			12,041
Cash at end of period	$	16,857		$	12,535		$	27,081		$	26,242		$	15,349		$	-		$	17,951		$	11,038		$	10,554
Cash paid for income taxes	$	172		$	-		$	-		$	100		$	-		$	-		$	687		$	-		$	406
Cash paid for interest expenses	$	-		$	-		$	-		$	-		$	-		$	7,917		$	-		$	-		$	-
Supplemental disclosure of non-cash investing and financing activities:
Advance from related party for acquisition of property	$	-		$	-		$	-		$	333,070		$	-		$	52,900		$	-		$	-		$	-
Acquisition of property	$	319,160		$	288,000		$	335,000		$	333,070		$	180,000		$	302,900		$	233,000		$	175,000		$	241,870
Mortgage payable, net of capitalized loan costs for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	250,000		$	-		$	-		$	-
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-

F-84

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:
Net income (loss)	$	1,254		$	2,922		$	3,620		$	(8,415	)	$	3,515		$	1,188		$	3,246		$	3,121		$	1,486
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		4,476			3,015			3,579			4,052			2,419			3,508			2,864			3,940			2,927
(Increase) decrease in assets
Prepaid expenses		(110	)		(203	)		(89	)		-			(110	)		(158	)		(129	)		(174	)		(84	)
Deposits		(2,395	)		(1,795	)		(2,495	)		(2,695	)		(1,395	)		(3,243	)		(1,649	)		(3,543	)		(1,295	)
Due (from) to third party property managers		(2,176	)		(1,892	)		(1,938	)		(2,095	)		(1,368	)		(1,919	)		(1,603	)		339			(1,354	)
Increase (decrease) in liabilities
Accrued expenses		5,328			4,538			4,417			6,132			3,841			3,468			3,475			1,472			2,414
Accounts payable		-			-			-			-			-			-			-			339			-
Tenant Deposits		2,395			1,795			2,495			2,695			1,395			3,243			1,649			3,543			1,295
Due to (from) related parties		(9,316	)		(4,666	)		821			52,754			(1,444	)		(2,601	)		(1,984	)		1,525			2,586
Net cash provided by (used in) operating activities		(544	)		3,714			10,411			52,427			6,854			3,486			5,870			10,564			7,975
Cash flows from financing activities
Repayments of amounts due to related party		-			-			-			(412,276	)		-			-			-			-			-
Net proceeds from the issuance of membership units		-			-			699			384,745			(300	)		(300	)		-			465			-
Distributions		(8,425	)		(6,515	)		(7,905	)		(7,069	)		(5,616	)		(7,919	)		(6,685	)		(9,073	)		(5,136	)
Net cash provided by (used in) financing activities		(8,425	)		(6,515	)		(7,206	)		(34,601	)		(5,916	)		(8,219	)		(6,685	)		(8,608	)		(5,136	)
Net change in cash		(8,969	)		(2,802	)		3,205			17,827			939			(4,733	)		(815	)		1,956			2,839
Cash at beginning of period		18,170			16,283			19,860			-			15,170			18,441			18,711			22,367			3,099
Cash at end of period	$	9,201		$	13,481		$	23,066		$	17,827		$	16,109		$	13,708		$	17,896		$	24,323		$	5,938
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	$	-		$	-		$	-		$	355,000		$	-		$	-		$	-		$	-		$	-
Acquisition of property	$	326,500		$	219,300		$	260,000		$	355,000		$	176,290		$	255,000		$	208,000		$	285,000		$	160,000
Mortgage payable, net of capitalized loan costs for acquisition of property	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-

F-85

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:
Net income (loss)	$	(2,618	)	$	1,575		$	(3,326	)	$	2,072			(59,492	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation		3,504			4,024			4,257			2,241			313,879
(Increase) decrease in assets
Prepaid expenses		(234	)		(86	)		-			(60	)		(13,859	)
Deposits		(1,695	)		(2,645	)		(1,995	)		(1,275	)		(181,847	)
Due (from) to third party property managers		(1,858	)		(1,909	)		(1,851	)		(1,304	)		(116,412	)
Increase (decrease) in liabilities
Accrued expenses		3,929			3,598			6,025			3,798			380,812
Accounts payable		-			-			-			-			20,915
Tenant Deposits		1,695			2,645			1,995			1,275			181,847
Due to (from) related parties		(5,377	)		(6,432	)		52,213			735			(1,772	)
Net cash provided by (used in) operating activities		(2,654	)		770			57,318			7,481			524,070
Cash flows from financing activities
Repayments of amounts due to related party		-			-			(364,165	)		-			(2,905,132	)
Net proceeds from the issuance of membership units		-			-			339,809			-			2,985,323
Distributions		(6,541	)		(5,160	)		(7,710	)		(5,437	)		(525,555	)
Net cash provided by (used in) financing activities		(6,541	)		(5,160	)		(32,066	)		(5,437	)		(445,364	)
Net change in cash		(9,196	)		(4,391	)		25,252			2,044			78,707
Cash at beginning of period		14,885			4,736			-			18,061			1,223,390
Cash at end of period	$	5,690		$	346		$	25,252		$	20,105		$	1,302,096
Cash paid for income taxes	$	-		$	-		$	50		$	-		$	6,762
Cash paid for interest expenses	$	-		$	-		$	-		$	-		$	35,834
Supplemental disclosure of non-cash investing and financing activities:
Advance from related party for acquisition of property	$	-		$	-		$	311,400		$	-		$	2,790,230
Acquisition of property	$	255,000		$	250,000		$	311,400		$	163,000		$	22,869,590
Mortgage payable, net of capitalized loan costs for acquisition of property	$	-		$	-		$	-		$	-		$	847,313
Deemed contribution from Manager	$	-		$	-		$	-		$	-		$	28,591

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

F-86

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

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

F-87

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

F-88

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.

F-89

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.

F-90

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. 

F-91

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.

F-92

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.

F-93

NOTE 4: PROPERTY AND EQUIPMENT

Property and equipment, net consists of the following:

June 30, 2025

Series	Building		Land		Property Improvements		Total		Less: Accumulated Depreciation			Property and equipment, net
Adams	$	230,829	$	76,000	$	-	$	306,829	$	(4,197	)	$	302,632
Antares		234,124		78,041		-		312,165		(17,027	)		295,138
Aramis		226,769		75,590		-		302,358		(16,492	)		285,866
Arkoma		178,459		59,486		-		237,946		(13,520	)		224,426
Arya		135,657		45,219		-		180,876		(7,811	)		173,065
Aspen		202,343		67,448		-		269,791		(15,942	)		253,848
Athos		219,648		73,216		5,840		298,704		(17,921	)		280,783
Barclay		231,439		77,146		-		308,585		(17,533	)		291,051
Bayne		264,381		86,906		-		351,287		(4,807	)		346,480
Bean		221,579		73,860		-		295,438		(13,429	)		282,009
Bennett		160,052		53,351		-		213,402		(12,610	)		200,792
Benny		192,665		64,222		-		256,887		(15,180	)		241,707
Bluebell		225,920		75,307		-		301,226		(16,430	)		284,796
Bowling		157,406		52,469		-		209,875		(12,879	)		196,996
Boxwood		243,102		81,248		-		324,350		(4,420	)		319,930
Bradford		229,997		76,666		-		306,663		(17,418	)		289,244
Brookwood		211,955		70,652		-		282,607		(16,700	)		265,908
Bryant		211,467		70,489		5,470		287,426		(18,208	)		269,218
Caden		189,056		63,019		-		252,075		(15,468	)		236,607
Camellia		192,475		64,158		13,114		269,747		(20,848	)		248,899
Caterpillar		226,811		75,604		-		302,414		(16,495	)		285,919
Chilhowee		245,882		80,960		-		326,842		(21,608	)		305,234
Claremore		177,773		59,258		-		237,030		(13,468	)		223,563
Collinison		228,338		75,250		5,140		308,728		(12,969	)		295,759
Cordero		190,960		63,653		21,346		275,959		(16,149	)		259,810
Cristalino		232,382		77,461		-		309,843		(19,013	)		290,830
Ellie		217,159		72,386		-		289,546		(13,161	)		276,385
Emelina		188,311		62,770		6,975		258,056		(18,430	)		239,626
Ethan		146,204		48,735		14,886		209,824		(15,042	)		194,782
Frances		211,050		69,498		-		280,547		(10,872	)		269,675
Glenncrest		219,509		72,500		-		292,009		(11,973	)		280,036
Gordon		193,167		64,389		-		257,556		(14,634	)		242,922
Haikey		185,216		61,739		-		246,955		(13,470	)		233,485
Hamblen		193,966		64,655		-		258,621		(15,282	)		243,339
Hancock		204,015		68,005		5,175		277,195		(17,526	)		259,669
Hardman		292,918		97,639		-		390,558		(15,977	)		374,580
Haven		140,196		46,732		-		186,928		(11,471	)		175,457
Haverhill		177,351		59,117		-		236,468		(13,973	)		222,495
Haybridge		271,195		90,398		-		361,593		(15,614	)		345,979
Hedgecrest		271,195		90,398		6,073		367,666		(16,019	)		351,647
Helmerich		190,433		63,478		-		253,910		(14,427	)		239,483
Hermanos		232,856		77,619		16,803		327,278		(26,864	)		300,414
Holmes		133,058		44,353		-		177,411		(10,483	)		166,927
Johnson		248,064		81,518		-		329,582		(8,269	)		321,313
Keystone		263,140		86,695		-		349,835		(13,556	)		336,279
Langley		250,762		83,750		-		334,512		(4,559	)		329,953
Laurel		254,681		83,811		-		338,492		(12,348	)		326,144
Layla		244,911		81,637		-		326,548		(13,359	)		313,189
Liberty		189,606		63,202		20,979		273,787		(20,126	)		253,661
Lithonia		213,879		71,293		10,745		295,917		(19,537	)		276,380
Lola		227,929		75,976		-		303,905		(12,432	)		291,473
Lucas		192,650		64,217		5,675		262,542		(16,297	)		246,245
Macomber		207,833		69,278		5,068		282,178		(17,058	)		265,120
Mallard		157,399		52,466		-		209,866		(11,924	)		197,941
Marcy		135,657		45,219		-		180,876		(7,811	)		173,065
Meridian		199,873		66,624		8,575		275,072		(17,428	)		257,644
Metallo		220,432		74,750		-		295,182		(3,340	)		291,842
Misty		259,742		86,250		-		345,992		(4,723	)		341,269
Montgomery		154,790		51,597		13,590		219,977		(15,367	)		204,611
Northbrook		212,953		70,984		-		283,937		(11,616	)		272,321
Northridge		194,437		67,475		-		261,912		(10,016	)		251,896
Oakland		232,207		77,402		-		309,609		(13,370	)		296,240
Palmore		151,605		50,535		6,990		209,131		(14,734	)		194,397
Pebblestone		255,302		84,106		-		339,409		(13,152	)		326,257
Perdita		250,821		83,607		-		334,428		(19,002	)		315,427
Phoebe		210,002		69,026		-		279,028		(10,818	)		268,210
Pongo		250,821		83,607		-		334,428		(19,002	)		315,427
Portsmouth		161,270		53,757		5,989		221,015		(13,105	)		207,909
Presidio		180,825		60,500		-		241,325		(3,288	)		238,037
Rachel		218,441		72,814		-		291,255		(11,915	)		279,340
Ratliff		241,684		80,561		-		322,245		(13,915	)		308,330
Riverwood		217,223		72,408		10,721		300,352		(20,382	)		279,970
Roanoke		253,193		84,398		-		337,591		(18,414	)		319,177
Robinson		242,512		80,998		-		323,510		(5,144	)		318,365
Ross		252,016		84,005		-		336,021		(13,746	)		322,274
Sansa		135,657		45,219		-		180,876		(7,811	)		173,065
Sedgefield		220,746		75,725		-		296,471		(10,034	)		286,437
Seneca		223,146		73,725		-		296,871		(5,410	)		291,461
Sheezy		176,837		58,250		-		235,087		(15,540	)		219,547
Sherwood		131,898		43,966		-		175,864		(9,992	)		165,872
Spangler		288,280		95,500		6,308		390,088		(5,872	)		384,216
Summerglen		183,172		61,057		-		244,229		(14,432	)		229,797
Tansel		246,162		82,054		-		328,216		(18,649	)		309,567
Thomas		165,820		55,273		-		221,093		(13,064	)		208,028
Tomlinson		183,250		61,250		-		244,500		(3,332	)		241,168
Tytus		196,851		65,617		-		262,468		(14,913	)		247,555
Vanzant		267,416		88,750		-		356,166		(13,776	)		342,390
Watson		133,058		44,353		-		177,411		(10,483	)		166,927
Westhaven		192,956		64,319		-		257,274		(15,202	)		242,072
Wheeler		157,535		52,512		-		210,047		(12,412	)		197,635
Williamson		216,704		72,235		-		288,939		(15,760	)		273,179
Woodland		121,075		40,358		7,252		168,685		(12,073	)		156,612
Woodwind		192,730		64,243		-		256,974		(15,185	)		241,789
Wynde		188,783		62,928		5,914		257,624		(16,372	)		241,252
Wyndhurst		234,133		78,044		-		312,177		(12,771	)		299,406
Zane		123,239		41,080		-		164,319		(8,963	)		155,356
	$	19,855,368	$	6,612,008	$	208,628	$	26,676,003	$	(1,295,558	)	$	25,380,445

F-94

December 31, 2024

Series	Building		Land		Property Improvements		Total		Less: Accumulated Depreciation			Property and equipment, net
Adams	$	230,829	$	76,000	$	-	$	306,829	$	-		$	306,829
Antares		234,124		78,041		-		312,165		(12,770	)		299,395
Aramis		226,769		75,590		-		302,358		(12,369	)		289,989
Arkoma		178,459		59,486		-		237,946		(10,275	)		227,671
Arya		135,657		45,219		-		180,876		(5,344	)		175,531
Aspen		202,343		67,448		-		269,791		(12,263	)		257,527
Athos		219,648		73,216		5,840		298,704		(13,343	)		285,361
Barclay		231,439		77,146		-		308,585		(13,325	)		295,259
Bayne		264,381		86,906		-		351,287		-			351,287
Bean		221,579		73,860		-		295,438		(9,400	)		286,038
Bennett		160,052		53,351		-		213,402		(9,700	)		203,702
Benny		192,665		64,222		-		256,887		(11,677	)		245,210
Bluebell		225,920		75,307		-		301,226		(12,323	)		288,903
Bowling		157,406		52,469		-		209,875		(10,017	)		199,858
Boxwood		243,102		81,248		-		324,350		-			324,350
Bradford		229,997		76,666		-		306,663		(13,238	)		293,425
Brookwood		211,955		70,652		-		282,607		(12,846	)		269,761
Bryant		211,467		70,489		5,470		287,426		(13,816	)		273,609
Caden		189,056		63,019		-		252,075		(12,031	)		240,044
Camellia		192,475		64,158		13,114		269,747		(16,037	)		253,710
Caterpillar		226,811		75,604		-		302,414		(12,371	)		290,043
Chilhowee		245,882		80,960		-		326,842		(17,137	)		309,705
Claremore		177,773		59,258		-		237,030		(10,235	)		226,795
Collinison		228,338		75,250		-		303,588		(8,303	)		295,285
Cordero		190,960		63,653		21,346		275,959		(12,288	)		263,670
Cristalino		232,382		77,461		-		309,843		(14,788	)		295,055
Ellie		217,159		72,386		-		289,546		(9,213	)		280,333
Emelina		188,311		62,770		6,975		258,056		(14,308	)		243,748
Ethan		146,204		48,735		14,886		209,824		(10,895	)		198,929
Frances		211,050		69,498		-		280,547		(7,035	)		273,512
Glenncrest		219,509		72,500		-		292,009		(7,982	)		284,027
Gordon		193,167		64,389		-		257,556		(11,122	)		246,434
Haikey		185,216		61,739		-		246,955		(10,103	)		236,852
Hamblen		193,966		64,655		-		258,621		(11,755	)		246,865
Hancock		204,015		68,005		5,175		277,195		(13,299	)		263,896
Hardman		292,918		97,639		-		390,558		(10,652	)		379,906
Haven		140,196		46,732		-		186,928		(8,922	)		178,006
Haverhill		177,351		59,117		-		236,468		(10,749	)		225,720
Haybridge		271,195		90,398		-		361,593		(10,683	)		350,910
Hedgecrest		271,195		90,398		-		361,593		(10,683	)		350,910
Helmerich		190,433		63,478		-		253,910		(10,964	)		242,946
Hermanos		232,856		77,619		16,803		327,278		(20,950	)		306,328
Holmes		133,058		44,353		-		177,411		(8,064	)		169,346
Johnson		248,064		81,518		-		329,582		(3,759	)		325,823
Keystone		263,140		86,695		-		349,835		(8,771	)		341,063
Langley		250,762		83,750		-		334,512		-			334,512
Laurel		254,681		83,811		-		338,492		(7,718	)		330,775
Layla		244,911		81,637		-		326,548		(8,906	)		317,642
Liberty		189,606		63,202		20,979		273,787		(14,581	)		259,206
Lithonia		213,879		71,293		10,745		295,917		(14,574	)		281,343
Lola		227,929		75,976		-		303,905		(8,288	)		295,617
Lucas		192,650		64,217		5,675		262,542		(12,227	)		250,315
Macomber		207,833		69,278		5,068		282,178		(12,772	)		269,405
Mallard		157,399		52,466		-		209,866		(9,062	)		200,803
Marcy		135,657		45,219		-		180,876		(5,344	)		175,531
Meridian		199,873		66,624		8,575		275,072		(12,937	)		262,135
Metallo		220,432		74,750		-		295,182		-			295,182
Misty		259,742		86,250		-		345,992		-			345,992
Montgomery		154,790		51,597		13,590		219,977		(11,193	)		208,784
Northbrook		212,953		70,984		-		283,937		(7,744	)		276,193
Northridge		194,437		67,475		-		261,912		(6,481	)		255,431
Oakland		232,207		77,402		-		309,609		(9,148	)		300,462
Palmore		151,605		50,535		6,990		209,131		(11,279	)		197,852
Pebblestone		255,302		84,106		-		339,409		(8,510	)		330,898
Perdita		250,821		83,607		-		334,428		(14,441	)		319,987
Phoebe		210,002		69,026		-		279,028		(7,000	)		272,028
Pongo		250,821		83,607		-		334,428		(14,441	)		319,987
Portsmouth		161,270		53,757		-		215,026		(9,774	)		205,252
Presidio		180,825		60,500		-		241,325		-			241,325
Rachel		218,441		72,814		-		291,255		(7,943	)		283,311
Ratliff		241,684		80,561		-		322,245		(9,521	)		312,724
Riverwood		217,223		72,408		10,721		300,352		(15,361	)		284,990
Roanoke		253,193		84,398		-		337,591		(13,811	)		323,781
Robinson		242,512		80,998		-		323,510		(735	)		322,775
Ross		252,016		84,005		-		336,021		(9,164	)		326,857
Sansa		135,657		45,219		-		180,876		(5,344	)		175,531
Sedgefield		220,746		75,725		-		296,471		(6,020	)		290,451
Seneca		223,146		73,725		-		296,871		(1,352	)		295,518
Sheezy		176,837		58,250		-		235,087		(12,325	)		222,762
Sherwood		131,898		43,966		-		175,864		(7,594	)		168,270
Spangler		288,280		95,500		6,308		390,088		-			390,088
Summerglen		183,172		61,057		-		244,229		(11,101	)		233,128
Tansel		246,162		82,054		-		328,216		(14,173	)		314,043
Thomas		165,820		55,273		-		221,093		(10,050	)		211,043
Tomlinson		183,250		61,250		-		244,500		-			244,500
Tytus		196,851		65,617		-		262,468		(11,334	)		251,134
Vanzant		267,416		88,750		-		356,166		(8,914	)		347,252
Watson		133,058		44,353		-		177,411		(8,064	)		169,346
Westhaven		192,956		64,319		-		257,274		(11,694	)		245,580
Wheeler		157,535		52,512		-		210,047		(9,548	)		200,499
Williamson		216,704		72,235		-		288,939		(11,820	)		277,119
Woodland		121,075		40,358		7,252		168,685		(9,147	)		159,538
Woodwind		192,730		64,243		-		256,974		(11,681	)		245,293
Wynde		188,783		62,928		5,914		257,624		(12,348	)		245,276
Wyndhurst		234,133		78,044		-		312,177		(8,514	)		303,663
Zane		123,239		41,080		-		164,319		(6,722	)		157,597
	$	19,855,368	$	6,612,008	$	191,426	$	26,658,802	$	(916,508	)	$	25,742,294

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

F-95

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.

F-96

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 from the issuance of membership units		Brokerage fee (1%)		Offering expense (2%)
Adams		36,087	$	334,077	$	3,609	$	7,224
Antares		-		-		-		-
Aramis		-		-		-		-
Arkoma		-		-		-		-
Arya		-		-		-		-
Aspen		-		-		-		-
Athos		-		-		-		-
Barclay		-		-		-		-
Bayne		41,105		380,478		4,111		8,222
Bean		-		-		-		-
Bennett		-		-		-		-
Benny		-		-		-		-
Bluebell		-		-		-		-
Bowling		-		-		-		-
Boxwood		38,181		353,436		3,818		7,636
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		39,184		362,757		3,918		7,845
Laurel		-		-		-		-
Layla		-		-		-		-
Liberty		-		-		-		-
Lithonia		-		-		-		-
Lola		-		-		-		-
Lucas		-		-		-		-
Macomber		-		-		-		-
Mallard		-		-		-		-
Marcy		-		-		-		-
Meridian		-		-		-		-
Metallo		34,888		322,979		3,489		6,982
Misty		50		495		5		-
Montgomery		-		-		-		-
Northbrook		-		-		-		-
Northridge		-		-		-		-
Oakland		-		-		-		-
Palmore		-		-		-		-
Pebblestone		-		-		-		-
Perdita		-		-		-		-
Phoebe		-		-		-		-
Pongo		-		-		-		-
Portsmouth		-		-		-		-
Presidio		28,661		265,302		2,867		5,741
Rachel		-		-		-		-
Ratliff		-		-		-		-
Riverwood		-		-		-		-
Roanoke		-		-		-		-
Robinson		-		-		-		-
Ross		-		-		-		-
Sansa		-		-		-		-
Sedgefield		-		-		-		-
Seneca		-		-		-		-
Sheezy		-		-		-		-
Sherwood		-		-		-		-
Spangler		45,431		420,629		4,543		9,088
Summerglen		-		-		-		-
Tansel		-		-		-		-
Thomas		-		-		-		-
Tomlinson		29,289		271,251		2,929		5,860
Tytus		-		-		-		-
Vanzant		-		-		-		-
Watson		-		-		-		-
Westhaven		-		-		-		-
Wheeler		-		-		-		-
Williamson		-		-		-		-
Woodland		-		-		-		-
Woodwind		-		-		-		-
Wynde		-		-		-		-
Wyndhurst		-		-		-		-
Zane		-		-		-		-
		292,876	$	2,711,403	$	29,289	$	58,598

F-97

June 30, 2024

Series	# of Units Issued			Net proceeds from the issuance of membership units			Brokerage fee (1%)		Offering expense (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		30,429			304,290			3,277		6,583
Glenncrest		31,079			310,787			3,361		6,722
Gordon		-			-			-		-
Haikey		-			-			-		-
Hamblen		(30	)		(300	)		-		-
Hancock		(80	)		(800	)		-		-
Hardman		-			-			-		-
Haven		-			-			-		-
Haverhill		-			-			-		-
Haybridge		-			-			-		-
Hedgecrest		-			-			-		-
Helmerich		-			-			-		-
Hermanos		-			-			-		-
Holmes		-			-			-		-
Johnson		-			-			-		-
Keystone		-			-			-		-
Laurel		36,471			364,707			3,941		7,882
Layla		-			-			-		-
Liberty		66			658			-		(8	)
Lithonia		(30	)		(300	)		-		-
Lola		-			-			-		-
Lucas		-			-			-		-
Macomber		-			-			-		-
Mallard		55			549			-		1
Marcy		-			-			-		-
Meridian		-			-			-		-
Montgomery		-			-			-		-
Northbrook		-			-			-		-
Northridge		29,580			295,804			3,196		6,391
Oakland		-			-			-		-
Palmore		-			-			-		-
Pebblestone		-			-			-		-
Perdita		-			-			-		-
Phoebe		30,261			302,613			3,269		6,538
Pongo		-			-			-		-
Portsmouth		(30	)		(300	)		-		-
Rachel		31,621			316,212			3,416		6,842
Ratliff		-			-			-		-
Riverwood		86			864			-		(14	)
Roanoke		67			671			-		(11	)
Ross		36,445			364,451			3,937		7,882
Sansa		-			-			-		-
Sedgefield		-			-			-		-
Sheezy		-			-			-		-
Sherwood		-			-			-		-
Summerglen		-			-			-		-
Tansel		-			-			-		-
Thomas		-			-			-		-
Tytus		70			699			-		(9	)
Vanzant		38,474			384,745			4,159		8,317
Watson		(30	)		(300	)		-		-
Westhaven		(30	)		(300	)		-		-
Wheeler		-			-			-		-
Williamson		47			465			-		(5	)
Woodland		-			-			-		-
Woodwind		-			-			-		-
Wynde		-			-			-		-
Wyndhurst		33,981			339,809			3,672		7,349
Zane		-			-			-		-
		298,532		$	2,985,323		$	32,227	$	64,449

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

F-98

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, 2025		June 30, 2024
Adams	$	6,568	$	-
Antares		7,064		7,137
Aramis		5,924		6,806
Arkoma		5,839		6,519
Arya		4,091		5,080
Aspen		4,500		4,061
Athos		5,050		7,557
Barclay		7,708		7,963
Bayne		5,878		-
Bean		7,230		8,287
Bennett		6,076		6,277
Benny		4,265		6,616
Bluebell		7,811		8,202
Bowling		5,454		5,381
Boxwood		5,191		-
Bradford		7,263		7,263
Brookwood		6,210		6,576
Bryant		5,728		6,886
Caden		2,261		5,463
Camellia		6,562		7,425
Caterpillar		3,467		5,790
Chilhowee		7,079		9,451
Claremore		2,947		6,649
Collinison		4,948		7,725
Cordero		7,394		8,852
Cristalino		5,756		2,462
Ellie		971		7,532
Emelina		3,021		5,229
Ethan		2,686		3,877
Frances		9,895		7,791
Glenncrest		7,293		1,311
Gordon		6,819		7,245
Haikey		6,311		6,659
Hamblen		6,094		7,693
Hancock		7,418		6,664
Hardman		9,433		9,434
Haven		4,242		2,871
Haverhill		6,402		3,464
Haybridge		4,984		8,111
Hedgecrest		7,097		4,900
Helmerich		6,510		6,811
Hermanos		5,408		2,178
Holmes		3,076		5,814
Johnson		8,429		-
Keystone		8,621		8,461
Langley		8,111		-
Laurel		9,804		1,457
Layla		9,035		8,805
Liberty		4,204		5,367
Lithonia		4,638		5,471
Lola		9,401		8,012
Lucas		1,843		8,036
Macomber		6,216		7,426
Mallard		5,398		6,880
Marcy		6,705		5,101
Meridian		5,364		6,941
Metallo		-		-
Misty		8,938		-
Montgomery		3,903		2,124
Northbrook		6,236		4,802
Northridge		5,303		4,824
Oakland		9,186		1,369
Palmore		1,861		4,712
Pebblestone		8,721		8,447
Perdita		7,138		7,491
Phoebe		7,846		1,242
Pongo		7,720		7,720
Portsmouth		3,536		6,950
Presidio		2,895		-
Rachel		7,481		4,988
Ratliff		8,548		6,966
Riverwood		6,426		6,882
Roanoke		9,123		9,758
Robinson		8,550		-
Ross		10,119		9,135
Sansa		6,238		5,229
Sedgefield		7,937		-
Seneca		7,638		-
Sheezy		6,291		7,517
Sherwood		6,349		5,213
Spangler		1,499		-
Summerglen		4,789		7,026
Tansel		3,039		8,425
Thomas		4,266		6,515
Tomlinson		1,904		-
Tytus		7,997		7,905
Vanzant		9,980		7,069
Watson		5,609		5,616
Westhaven		3,941		7,919
Wheeler		6,760		6,685
Williamson		8,300		9,073
Woodland		4,394		5,136
Woodwind		330		6,541
Wynde		6,652		5,160
Wyndhurst		3,121		7,710
Zane		5,537		5,437
	$	569,798	$	525,555

F-99

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.

F-100

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 expenses		Offering expense		Asset management fee		Reimbursement of acquisition expenses		Property management fee, related party
Adams	$	10,640	$	5,320	$	7,224	$	912	$	2,500	$	606
Antares		-		-		-		930		-		514
Aramis		-		-		-		900		-		562
Arkoma		-		-		-		711		-		302
Arya		-		-		-		540		-		250
Aspen		-		-		-		803		-		847
Athos		-		-		-		870		-		586
Barclay		-		-		-		921		-		532
Bayne		12,160		6,080		8,222		869		2,500		588
Bean		-		-		-		878		-		610
Bennett		-		-		-		635		-		237
Benny		-		-		-		765		-		442
Bluebell		-		-		-		900		-		598
Bowling		-		-		-		624		-		225
Boxwood		11,280		5,640		7,636		808		2,500		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		-		-		-		1,163		-		778
Haven		-		-		-		555		-		298
Haverhill		-		-		-		704		-		176
Haybridge		-		-		-		1,080		-		269
Hedgecrest		-		-		-		1,080		-		496
Helmerich		-		-		-		763		-		384
Hermanos		-		-		-		930		-		623
Holmes		-		-		-		529		-		236
Johnson		-		-		-		978		-		742
Keystone		-		-		-		1,040		-		800
Langley		11,550		5,770		7,845		995		2,500		802
Laurel		-		-		-		1,006		-		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		10,290		5,140		6,982		887		2,500		72
Misty		-		-		-		1,035		-		815
Montgomery		-		-		-		615		-		370
Northbrook		-		-		-		846		-		490
Northridge		-		-		-		810		-		402
Oakland		-		-		-		921		-		646
Palmore		-		-		-		600		-		224
Pebblestone		-		-		-		1,009		-		682
Perdita		-		-		-		998		-		538
Phoebe		-		-		-		828		-		523
Pongo		-		-		-		998		-		586
Portsmouth		-		-		-		639		-		618
Presidio		8,470		4,230		5,741		605		2,500		278
Rachel		-		-		-		866		-		387
Ratliff		-		-		-		957		-		598
Riverwood		-		-		-		864		-		586
Roanoke		-		-		-		1,005		-		778
Robinson		-		-		-		967		-		714
Ross		-		-		-		999		-		700
Sansa		-		-		-		540		-		239
Sedgefield		-		-		-		909		-		701
Seneca		-		-		-		885		-		658
Sheezy		-		-		-		699		-		476
Sherwood		-		-		-		525		-		250
Spangler		13,370		6,680		9,088		955		2,500		353
Summerglen		-		-		-		726		-		512
Tansel		-		-		-		980		-		594
Thomas		-		-		-		658		-		144
Tomlinson		8,570		4,280		5,860		490		2,500		222
Tytus		-		-		-		780		-		562
Vanzant		-		-		-		1,065		-		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
	$	86,330	$	43,140	$	58,598	$	78,016	$	20,000	$	45,236

F-101

June 30, 2024

Series	Sourcing fees		Financing and holding expenses			Offering expense			Asset management fee			Reimbursement of acquisition expenses			Property management fee, related party
Antares	$	-	$	-		$	-		$	1,085		$	-		$	514
Aramis		-		(640	)		(10	)		1,050			180			513
Arkoma		-		-			-			830			-			288
Arya		-		-			-			630			-			228
Aspen		-		-			-			803			-			140
Athos		-		(750	)		(12	)		1,015			190			579
Barclay		-		(300	)		11			1,075			820			476
Bean		-		-			-			1,025			-			547
Bennett		-		-			-			635			-			170
Benny		-		-			-			765			-			423
Bluebell		-		-			-			1,050			-			598
Bowling		-		-			-			624			-			-
Bradford		-		-			-			1,068			-			502
Brookwood		-		-			-			842			-			187
Bryant		-		-			-			840			-			564
Caden		-		-			-			750			-			207
Camellia		-		-			-			765			-			-
Caterpillar		-		-			-			1,050			-			180
Chilhowee		-		-			-			972			-			793
Claremore		-		-			-			704			-			356
Collinison		-		-			-			903			-			552
Cordero		-		-			-			765			-			597
Cristalino		-		-			-			930			-			530
Ellie		-		-			-			1,003			-			599
Emelina		-		-			-			750			-			388
Ethan		-		-			-			579			-			251
Frances		9,720		4,860			6,583			417			2,500			421
Glenncrest		10,150		5,070			6,722			(290	)		2,500			508
Gordon		-		-			-			893			-			404
Haikey		-		-			-			734			-			399
Hamblen		-		-			-			769			-			544
Hancock		-		-			-			810			-			508
Hardman		-		-			-			1,163			-			774
Haven		-		-			-			555			-			256
Haverhill		-		-			-			704			-			315
Haybridge		-		-			-			1,080			-			390
Hedgecrest		-		-			-			1,080			-			269
Helmerich		-		-			-			763			-			408
Hermanos		-		-			-			930			-			471
Holmes		-		-			-			529			-			209
Johnson		-		-			-			-			-			-
Keystone		-		-			-			1,040			-			526
Laurel		11,730		5,860			7,882			168			2,500			525
Layla		-		-			-			1,133			-			397
Liberty		-		(650	)		(8	)		875			250			499
Lithonia		-		-			-			849			-			74
Lola		-		-			-			1,054			-			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		9,440		4,720			6,391			810			2,500			131
Oakland		-		-			-			(461	)		-			340
Palmore		-		-			-			600			-			191
Pebblestone		-		-			-			1,009			-			470
Perdita		-		-			-			1,164			-			538
Phoebe		9,660		4,830			6,538			(276	)		2,500			251
Pongo		-		-			-			1,164			-			586
Portsmouth		-		-			-			639			-			386
Rachel		10,100		5,050			6,842			433			2,500			264
Ratliff		-		-			-			1,117			-			343
Riverwood		-		(850	)		(14	)		1,008			(294	)		163
Roanoke		-		(660	)		(11	)		1,173			130			896
Ross		11,650		5,820			7,882			500			2,500			613
Sansa		-		-			-			630			-			244
Sedgefield		-		-			-			-			-			275
Sheezy		-		-			-			699			-			446
Sherwood		-		-			-			613			-			223
Summerglen		-		-			-			687			-			478
Tansel		-		-			-			1,143			-			569
Thomas		-		-			-			658			-			189
Tytus		-		(690	)		(9	)		910			240			523
Vanzant		12,420		6,210			8,317			533			2,500			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		10,890		5,440			7,349			467			2,500			528
Zane		-		-			-			571			-			192
	$	95,760	$	42,310		$	64,449		$	63,799		$	24,816		$	33,054

F-102

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.

F-103

ITEM 4. EXHIBITS  

Exhibit No.	Description
2.1*	Certificate of Formation of Arrived Homes 3, LLC
2.2*	Amended and Restated Limited Liability Company Agreement of Arrived Homes 3, LLC
3.1*	Form of Series Designation of Arrived Series [*], a series of Arrived Homes 3, LLC
4.1*	Form of Subscription Agreement of Arrived Series [*], a Series of Arrived Homes 3, LLC
6.1*	Broker Dealer Agreement, dated January 4, 2023 between Arrived Homes 3, LLC and Dalmore Group, LLC
6.2*	Transfer Registrar Services Agreement, dated January 13, 2023, between Arrived Homes 3, LLC and Colonial Stock Transfer Company
6.3*	Form of Promissory Note
6.4*	Software and Services License Agreement, dated [*], 202[*], by and between North Capital Investment Technology, Inc. and Arrived Holdings, Inc.
6.5*	Form of Property Management Agreement dated [*], 202[*], between Marketplace Homes and Arrived Series [*], a series of Arrived Homes 3, LLC
6.6*	Purchase and Sale Agreement dated December 20, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Chilhowee property
6.6.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Chilhowee dated December 21, 2022 for Arrived Series Chilhowee property
6.7*	Purchase and Sale Agreement dated November 29, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Sheezy property
6.7.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Sheezy dated November 30, 2022 for Arrived Series Sheezy property
6.8*	Purchase and Sale Agreement dated December 12, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Bowling Property
6.8.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Bowling dated December 16,2022 for Arrived Series Bowling Property
6.9*	Purchase and Sale Agreement dated January 23, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Caden Property
6.9.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Caden dated January 22,2023 for Arrived Series Caden Property
6.10*	Purchase and Sale Agreement dated January 23, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Cristalino Property
6.10.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Cristalino dated December 21,2022 for Arrived Series Cristalino Property
6.10.2*	Counteroffer to Offer dated December 19, 2022 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Cristalino Property
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
6.11*	Purchase and Sale Agreement dated January 5, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Emelina Property
6.11.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Emelina dated January 10, 2023 for Arrived Series Emelina Property
6.12*	Purchase and Sale Agreement dated December 20, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Haven Property
6.12.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Haven dated December 21,2022 for Arrived Series Haven Property

8

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
6.13*	Purchase and Sale Agreement dated December 19, 2022 between Arrived Holdings, Inc./Assignee and Seller for Series Hermanos Property
6.13.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Hermanos dated January 10, 2023 for Arrived Series Hermanos Property
6.13.2*	Counteroffer to Offer dated January 5, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Hermanos Property
6.14*	Form of Property Management Agreement dated [*], 202[*], between Great Jones and Arrived Series [*], a series of Arrived Homes 3, LLC
6.15*	Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Aspen Property
6.15.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Aspen dated February 28, 2023 for Arrived Series Aspen Property
6.16*	Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Bennett Property
6.16.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Bennett dated February 28, 2023 for Arrived Series Bennett Property
6.17*	Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Brookwood Property
6.17.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Brookwood dated February 28, 2023 for Arrived Series Brookwood Property
6.18*	Purchase and Sale Agreement dated January 13, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Camellia Property
6.18.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Camellia dated January 23,2023 for Arrived Series Camellia Property.
6.19*	Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Haverhill Property
6.19.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Haverhill dated February 28, 2023 for Arrived Series Haverhill Property
6.20*	Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Lithonia Property
6.20.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Lithonia dated February 28, 2023 for Arrived Series Lithonia Property
6.21*	Purchase and Sale Agreement dated January  24, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Palmore Property
6.21.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Palmore dated January 28, 2023 for Arrived Series Palmore Property
6.22*	Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Thomas Property
6.22.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Thomas dated January 28, 2023 for Arrived Series Thomas Property
6.23*	Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Woodwind Property
6.23.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Woodwind dated February 28, 2023 for Arrived Series Woodwind Property
6.24*	Form of Property Management Agreement dated [*], 202[*], between Mynd and Arrived Series [*], a series of Arrived Homes 3, LLC
6.25*	Purchase and Sale Agreement dated February 19, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Benny Property

9

6.25.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Benny dated February 22, 2023 for Arrived Series Benny Property
6.26*	Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Montgomery Property
6.26.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Montgomery dated February 24, 2023 for Arrived Series Montgomery Property
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
6.27*	Purchase and Sale Agreement dated February 13, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Portsmouth Property
6.27.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Portsmouth dated March 6, 2023 for Arrived Series Portsmouth Property
6.28*	Purchase and Sale Agreement dated March 8, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Summerglen Property
6.28.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Summerglen dated March 8, 2023 for Arrived Series Summerglen Property
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
6.29*	Purchase and Sale Agreement dated February 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Westhaven Property
6.29.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Westhaven dated February 24, 2023 for Arrived Series Westhaven Property
6.30*	Form of Property Management Agreement dated [*], 202[*], between Darwin Homes and Arrived Series [*], a series of Arrived Homes 3, LLC
6.31*	Purchase and Sale Agreement dated March 6, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Cordero Property
6.31.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Cordero dated March 7, 2023 for Arrived Series Cordero Property
6.32*	Purchase and Sale Agreement dated March 13, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Ethan Property
6.32.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Ethan dated March 16, 2023 for Arrived Series Ethan Property
6.33*	Purchase and Sale Agreement dated March 13, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Hamblen Property
6.33.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Hamblen dated March 10, 2023 for Arrived Series Hamblen Property
6.34*	Purchase and Sale Agreement dated February 25, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Holmes Property
6.34.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Holmes dated March 7, 2023 for Arrived Series Holmes Property
6.35*	Purchase and Sale Agreement dated February 25, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Watson Property
6.35.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Watson dated March 7, 2023 for Arrived Series Watson Property
6.36*	Purchase and Sale Agreement dated March 3, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Wheeler Property
6.36.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Wheeler dated March 6, 2023 for Arrived Series Wheeler Property
6.37*	Purchase and Sale Agreement dated March 16, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Bryant Property

10

6.37.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Bryant dated March 22, 2023 for Arrived Series Bryant Property
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
6.38*	Purchase and Sale Agreement dated March 8, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Claremore Property
6.38.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Claremore dated March 1, 2023 for Arrived Series Claremore Property
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
6.39*	Purchase and Sale Agreement dated February 6, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Haikey Property
6.39.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Haikey dated March 1, 2023 for Arrived Series Haikey Property
6.40*	Purchase and Sale Agreement dated March 24, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Hancock Property
6.40.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Hancock dated March 28, 2023 for Arrived Series Hancock Property
6.41*	Purchase and Sale Agreement dated February 8, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Helmerich Property
6.41.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Helmerich dated March 1, 2023 for Arrived Series Helmerich Property
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
6.42*	Purchase and Sale Agreement dated March 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Wynde Property
6.42.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Wynde dated April 5, 2023 for Arrived Series Wynde Property
6.43*	Purchase and Sale Agreement dated April 18, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Arkoma Property
6.43.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Arkoma dated March 1, 2023 for Arrived Series Arkoma Property
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
6.44*	Purchase and Sale Agreement dated March 17, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Gordon Property
6.44.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Gordon dated March 30, 2023 for Arrived Series Gordon Property
6.45*	Purchase and Sale Agreement dated March 30, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Lucas Property
6.45*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Lucas dated April 4, 2023 for Arrived Series Lucas Property
6.46*	Purchase and Sale Agreement dated April 18, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Macomber Property
6.46.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Macomber dated March 1, 2023 for Arrived Series Macomber Property
6.47*	Purchase and Sale Agreement dated March 22, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Meridian Property
6.47.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Meridian dated March 28, 2023 for Arrived Series Meridian Property

11

6.47.2*	Counteroffer to Offer dated March 21, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Meridian Property
6.48*	Purchase and Sale Agreement dated March 27, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Perdita Property
6.48.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Perdita dated April 18, 2023 for Arrived Series Perdita Property
6.49*	Purchase and Sale Agreement dated March 27, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Pongo Property
6.49.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Pongo dated April 19, 2023 for Arrived Series Pongo Property
6.50*	Purchase and Sale Agreement dated March 22, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Woodland Property
6.50.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Woodland dated March 17, 2023 for Arrived Series Woodland Property
6.51*	Purchase and Sale Agreement dated April 10, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Antares Property
6.51.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Antares dated April 24, 2023 for Arrived Series Antares Property
6.51.2*	Counteroffer to Offer dated April 10, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Antares Property
6.52*	Purchase and Sale Agreement dated April 13, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Aramis Property
6.52.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Aramis dated April 14, 2023 for Arrived Series Aramis Property
6.53*	Purchase and Sale Agreement dated April 11, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Athos Property
6.53.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Athos dated April 13, 2023 for Arrived Series Athos Property
6.53.2*	Counteroffer to Offer dated April 11, 2023 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Athos Property
6.54*	Purchase and Sale Agreement dated April 11, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Barclay Property
6.54.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Barclay dated April 17, 2023 for Arrived Series Barclay Property
6.55*	Purchase and Sale Agreement dated September 29, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Bean Property
6.55.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Bean dated September 2, 2023 for Arrived Series Bean Property
6.56*	Purchase and Sale Agreement dated April 6, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Bluebell Property
6.56.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Bluebell dated April 17, 2023 for Arrived Series Bluebell Property
6.57*	Purchase and Sale Agreement dated April 6, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Bradford Property
6.57.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Bradford dated April 6, 2023 for Arrived Series Bradford Property
6.58*	Purchase and Sale Agreement dated April 8, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Caterpillar Property
6.58.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Caterpillar dated April 21, 2023 for Arrived Series Caterpillar Property

12

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
6.59*	Purchase and Sale Agreement dated August 2, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Ellie Property
6.59.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Ellie dated September 11, 2023 for Arrived Series Ellie Property
6.60*	Purchase and Sale Agreement dated March 8, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Liberty Property
6.60.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Liberty dated March 10, 2023 for Arrived Series Liberty Property
6.61*	Purchase and Sale Agreement dated March 9, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Mallard Property
6.61.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Mallard dated March 16, 2023 for Arrived Series Mallard Property
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
6.62*	Purchase and Sale Agreement dated March 17, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Riverwood Property
6.62.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Riverwood dated April 21, 2023 for Arrived Series Riverwood Property
6.63*	Purchase and Sale Agreement dated April 12, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Roanoke Property
6.63.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Roanoke dated April 13, 2023 for Arrived Series Roanoke Property
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
6.64*	Purchase and Sale Agreement dated March 24, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Sherwood Property
6.64.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Sherwood dated March 28, 2023 for Arrived Series Sherwood Property
6.65*	Purchase and Sale Agreement dated April 5, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Tansel Property
6.65.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Tansel dated April 18, 2023 for Arrived Series Tansel Property
6.66*	Purchase and Sale Agreement dated March 30, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Tytus Property
6.66.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Tansel dated April 5, 2023 for Arrived Series Tytus Property
6.67*	Purchase and Sale Agreement dated February 17, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Williamson Property
6.67.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Williamson dated March 6, 2023 for Arrived Series Williamson Property
6.68*	Purchase and Sale Agreement dated April 8, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Zane Property
6.68.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Zane dated April 13, 2023 for Arrived Series Zane Property
6.69*	Purchase and Sale Agreement dated September 1, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Arya Property
6.69.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Arya dated October 4, 2023 for Arrived Series Arya Property

13

6.70*	Purchase and Sale Agreement dated July 28, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Marcy Property
6.70.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Marcy dated October 4, 2023 for Arrived Series Marcy Property
6.71*	Purchase and Sale Agreement dated September 1, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Sansa Property
6.71.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Sansa dated October 4, 2023 for Arrived Series Sansa Property
6.72*	Purchase and Sale Agreement dated September 19, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Haybridge Property
6.72.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Haybridge dated September 28, 2023 for Arrived Series Haybridge Property
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
6.73*	Purchase and Sale Agreement dated September 19, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Hedgecrest Property
6.73.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Hedgecrest dated September 28, 2023 for Arrived Series Hedgecrest Property
6.74*	Purchase and Sale Agreement dated September 19, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Layla Property
6.74.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Layla dated October 23, 2023 for Arrived Series Layla Property
6.75*	Purchase and Sale Agreement dated September 19, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Lola Property
6.75.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Lola dated October 23, 2023 for Arrived Series Lola Property
6.76*	Purchase and Sale Agreement dated October 10, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Ratliff Property
6.76.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Ratliff dated October 19, 2023 for Arrived Series Ratliff Property
6.77*	Purchase and Sale Agreement dated October 12, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Collinison Property
6.77.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Collinison dated October 30, 2023 for Arrived Series Collinison Property
6.78*	Purchase and Sale Agreement dated October 8, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Hardman Property
6.78.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Hardman dated October 24, 2023 for Arrived Series Hardman Property
6.79*	Purchase and Sale Agreement dated September 28, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Keystone Property
6.79.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Keystone dated October 31, 2023 for Arrived Series Keystone Property
6.80*	Purchase and Sale Agreement dated October 9, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Northbrook Property
6.80.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Northbrook dated October 19, 2023 for Arrived Series Northbrook Property
6.81*	Purchase and Sale Agreement dated September 28, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Pebblestone Property
6.81.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Pebblestone dated October 31, 2023 for Arrived Series Pebblestone Property

14

6.82*	Purchase and Sale Agreement dated October 10, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Frances Property
6.82.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Frances dated October 19, 2023 for Arrived Series Frances Property
6.83*	Purchase and Sale Agreement dated November 7, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Northridge Property
6.83.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Northridge dated November 21, 2023 for Arrived Series Northridge Property
6.84*	Purchase and Sale Agreement dated October 31, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Rachel Property
6.84.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Rachel dated November 1, 2023 for Arrived Series Rachel Property
6.85*	Purchase and Sale Agreement dated October 31, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Ross Property
6.85.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Ross dated November 1, 2023 for Arrived Series Ross Property
6.86*	Purchase and Sale Agreement dated November 3, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Vanzant Property
6.86.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Vanzant dated November 21, 2023 for Arrived Series Vanzant Property
6.87*	Purchase and Sale Agreement dated November 1, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Wyndhurst Property
6.87.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Wyndhurst dated November 17, 2023 for Arrived Series Wyndhurst Property
6.88*	Purchase and Sale Agreement dated October 25, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Glenncrest Property
6.88.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Glenncrest dated November 1, 2023 for Arrived Series Glenncrest Property
6.89*	Purchase and Sale Agreement dated December 20, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Laurel Property
6.89.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Laurel dated January 19, 2024 for Arrived Series Laurel Property
6.90*	Purchase and Sale Agreement dated October 3, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Oakland Property
6.90.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Oakland dated October 19, 2023 for Arrived Series Oakland Property
6.91*	Purchase and Sale Agreement dated December 11, 2023 between Arrived Holdings, Inc./Assignee and Seller for Series Phoebe Property
6.91.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Phoebe dated December 13, 2023 for Arrived Series Phoebe Property
6.92*	Purchase and Sale Agreement dated June 14, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Johnson Property
6.92.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Johnson dated June 20, 2024 for Arrived Series Johnson Property
6.93*	Purchase and Sale Agreement dated January 8, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Sedgefield Property
6.93.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Sedgefield dated January 22, 2024 for Arrived Series Sedgefield Property
6.94*	Purchase and Sale Agreement dated August 28, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Robinson Property

15

6.94.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Robinson dated September 5, 2024 for Arrived Series Robinson Property
6.95*	Purchase and Sale Agreement dated August 13, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Seneca Property
6.95.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Seneca dated August 23, 2024 for Arrived Series Seneca Property
6.96*	Purchase and Sale Agreement dated October 10, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Adams Property
6.96.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Adams dated October 28, 2024 for Arrived Series Adams Property
6.97*	Purchase and Sale Agreement dated October 18, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Bayne Property
6.97.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Bayne dated October 28, 2024 for Arrived Series Bayne Property
6.98*	Purchase and Sale Agreement dated October 8, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Boxwood Property
6.98.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Boxwood dated October 28, 2024 for Arrived Series Boxwood Property
6.99*	Purchase and Sale Agreement dated October 4, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Langley Property
6.99.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Langley dated October 23, 2024 for Arrived Series Langley Property
6.100*	Purchase and Sale Agreement dated October 30, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Metallo Property
6.100.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Metallo dated November 18, 2024 for Arrived Series Metallo Property
6.101*	Purchase and Sale Agreement dated October 15, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Misty Property
6.101.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Misty dated October 29, 2024 for Arrived Series Misty Property
6.101.2*	Counteroffer to Offer dated October 16, 2024 between Arrived Holdings, Inc./Assignee and Seller for Arrived Series Misty Property
6.102*	Purchase and Sale Agreement dated October 14, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Presidio Property
6.102.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Presidio dated October 28, 2024 for Arrived Series Presidio Property
6.103*	Purchase and Sale Agreement dated October 10, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Spangler Property
6.103.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Spangler dated October 30, 2024 for Arrived Series Spangler Property
6.104*	Purchase and Sale Agreement dated October 11, 2024 between Arrived Holdings, Inc./Assignee and Seller for Series Tomlinson Property
6.104.1*	Assignment of Contract from Arrived Holdings, Inc. to Arrived Series Tomlinson dated October 30, 2024 for Arrived Series Tomlinson Property

* Previously Filed

16

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
By:	Arrived Fund Manager, LLC, its managing member
By:	/s/ Ryan Frazier
	Name:	Ryan Frazier
	Title: Date:	Chief Executive Officer 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) 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. 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

17