2 0 1 Emerson Street

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1 2 0 1 Emerson Street 20 MONTROSE AREA APARTMENTS KET Enterprises Incorporated I 4295 San Felipe, Suite 355 I Houston, TX I I

2 201 Emerson Street apartment homes 201 Emerson Street 201 Emerson Street Houston, TX Emerson Street, Houston, TX APARTMENTS FOR SALE Asking Price Price Per Unit Units: 20 Price Per Sq. Ft. Avg Size: 649 Stabilized NOI Date Built: 1961 Rentable Sq. Ft.: 12,970 Acreage: 0.29 Occupancy: 100% Class: B++ $3,000,000 $150,000 $ $179,751 INVESTMENT HIGHLIGHTS Available on All Cash or New Loan Basis Excellent location in trending Montrose area Great upside potential with Interior and Exterior Upgrades Strong Occupancy in a Strong Market! Great Opportunity for the Smaller Investor Strong Area Job Base! Mintues from the University of St Thomas Convenient to Downtown, Midtown, Texas Medical Center, and Galleria Covered Land Play Clean Property with Minor Deferred Maintenance FOR MORE INFORMATION PLEASE CONTACT: KET ENTERPRISES INCORPORATED 4205 San Felipe I Suite 355 I Houston, Tx Broker License # Rajesh H. Patel Investment Sales Associate rpatel@ketent.com ext 103 Cell Phone:

3 201 Emerson Street 201 Emerson Street Houston, TX Physical Information Financial Information Proposed Loan Parameters Operating Information Number of Units 20 Asking Price $3,000,000 Loan at 75% of Asking $2,250,000 Est Mkt Rent (Feb-18) $24,170 Avg Unit Size 649 Price Per Unit $150,000 Amortization Mo Avg 2017 $22,194 Net Rentable Area 12,970 Price Per Sq. Ft. $ Debt Service $101,250 Physical Occ (Feb-18) 100% Land Area (Acres) Units per Acre Date Built Stabilized NOI $179,751 Interest Only Interest Rate Date Due $8, % 10 years Est Ins per Unit per Yr Property Tax Information 2017 Tax Rate/$100 $ Water Meter / Master Elec Meter Master Master Est Res for Repl/Unit/Yr Yield Maintenance $250 Yes 2017 Assessment 2017 Taxes $1,809,925 $50,337 Roof Style Flat Est Future Tax Assessment $1,900,000 Heating & Cooling HVAC Est Future Taxes $52,842 INCOME PRO-FORMA INCOME Current Street Rent with a 12% Increase 324,845 Estimated Gross Scheduled Income 324,845 Estimated Loss to Lease (2% of Total Street Rent) (6,497) 2% Estimated Vacancy (2% of Total Street Rent) (6,497) 2% Estimated Concessions and Other Rental Losses (2% of Total Street Rent) (6,497) 2% Estimated Utilities Income Estimated Other Income 6,992 Estimated Total Rental Income 312,346 ESTIMATED TOTAL PRO-FORMA INCOME 312,346 3 Mo Avg 2017 EXPENSE Fixed Expenses MODIFIED ACTUALS Jan-Dec 2017 Expenses PRO-FORMA Future Expenses $27,070 / Mo $27,070 / Mo 0 $ / Unit / Yr $350 / Unit / Yr $26,029 / Mo Estimated Fixed Expenses Estimated Fixed Expenses Taxes Insurance $45,725 $8,425 $2,286 per Unit $421 per Unit 12/17 operating statement $52,842 $8,425 $2,642 per Unit $421 per Unit 2017 Tax Rate & Est Future Assessment Estimated $2,707 per Unit $3,063 per Unit Total Fixed Expense 54,150 61,266 Utilities Estimated Utilities Estimated Utilities Electricity $12,019 $601 per Unit $12,019 $601 per Unit Water & Sewer $9,569 $478 per Unit $9,569 $478 per Unit Gas $1,558 $78 per Unit $1,558 $78 per Unit Total Utilities 23,147 $1,157 per Unit 23,147 $1,157 per Unit Other Expenses Estimated Other Expenses Estimated Other Expenses General & Admin & Marketing Repairs & Maintenance Labor Costs Contract Services $6,625 $20,362 $0 $4,057 $331 per Unit $1,018 per Unit $ per Unit $203 per Unit $6,625 $7,000 $15,000 $2,000 $331 per Unit $350 per Unit $750 per Unit $100 per Unit Management Fees $9, % $493 per Unit $11, % $578 per Unit Total Other Expense 40,904 $2,045 per Unit 42,182 $2,109 per Unit Total Operating Expense 118,200 $5,910 per Unit 126,595 $6,330 per Unit Reserve for Replacement 6,000 $300 per Unit 6,000 $300 per Unit Total Expense 124,200 $6,210 per Unit 132,595 $6,630 per Unit Net Operating Income (Actual Underwriting) 142, ,751 Asking Price Cap Rate Debt Equity Estimated Debt Service Cash Flow Cash on Cash 3,000, % 2,250, , ,250 40, % 3,000, % 2,250, , ,250 78, % NOTES: PRO FORMA: Income and Expenses were calculated using owners 12/17 operating statement. Insurance is estimated. Management Fees calculated as 3.7% of Gross Income and Other expenses are Estimated for the Pro Forma. DISCLAIMER: The information contained herein has been obtained from sources that we deem reliable. We have no reason to doubt the accuracy of the information, but we have not verified it and make no guaranty, warranty or representation about it. It is your resonsibility to independently confirm its accuracy and completeness. We have not determined whether the property complies with deed restrictions or any city licensing or ordinances including life safety compliance or if the property lies within a flood plain. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME OR EXPENSE AND PERFORM OR HAVE PERFORMED ANY INSPECTIONS TO VERIFY POSSIBLE CONTAMINATION BY ASBESTOS, LEAD PAINT, MOLD OR ANY OTHER HAZARDOUS SUBSTANCES. The owner reserves the right to withdraw this listing or change the price at anytime without notice during the marketing period. 3/2/ Emerson 266,330

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5 201 Emerson Street 201 Emerson Street Houston, TX Property Overview Age: 1961 Mortgage Balance Elec Meter: Master Lender Houston ISD $ A/C Type: HVAC Amortization Harris County $ Water: Master P & I Harris County Flood Cntrl $ Wiring: Copper Type Port of Houston Authy $ Roof: Flat Assumable Harris County Hosp District $ Paving: Concrete Monthly Escrow Harris County Educ Dept $ Materials: Brick Origination Date Houston Community College $ # of Stories: 2 Due Date City of Houston $ Buildings: 1 Interest Rate Surface Parking: Yes Yield Maintenance Garage Parking: Yes Transfer Fee 1%+app+legal 2017 Tax Rate/$100 $ Est Units/Acre: Assessment $1,809,925 KeyMap: PROPERTY INFORMATION 493S 3 Mo Avg 2017 $ 22,194 ESTIMATED COLLECTIONS CURRENT MORTGAGE $24,000 Jan 2017 $ 22, Month Average $20, $23,000 Feb 2017 $ 21,875 Mar 2017 $ 22,225 $22,000 Apr 2017 $ 19,438 9 Month Average $20, $21,000 May 2017 $ 18,840 Jun 2017 $ 16,290 $20,000 Jul 2017 $ 18,010 6 Month Average $20, Aug 2017 $ 19,550 $19,000 Sep 2017 $ 21,472 $18,000 Oct 2017 $ 21,400 3 Month Average $22, Nov 2017 $ 22,195 $17,000 Aug 2017 Sep 2017 Oct 2017 Nov 2017 Dec 2017 Dec 2017 $ 22,730 PLEASE DO NOT VISIT THE SITE WITHOUT AN APPOINTMENT MADE THROUGH THE BROKER. PROPERTY HIGHLIGHTS TAXING AUTHORITY Harris County ACCT #: ; 11 AVERAGES 201 Emerson St Apartments is a 20 unit apartment building located at 201 Emerson St. It contains approximately 12,970 square feet of rentable area and was built in It is located in the Neartown-Montrose neighborhood. The asset is nestled in a quiet, established, residential neighborhood with an abundance of old oak trees and yesteryear charm. Residents enjoy a shared on-site laundry facility. There is garage parking as well as surface parking. All bills paid property. The tenant profile is predominately young professionals with income above the average Houston Metro income level. Residents enjoy close proximity to the University of St. Thomas, the Museum of Fine Arts, the Houston Museum of Natural Science, Rothko Chapel, the Houston Zoo, the Texas Medical Center and Downtown Houston. The broker feels that an interior and exterior upgrade could substantially increase rental income. Disclaimer: The information contained in this Memorandum reflects material from sources deemed to be reliable, including data such as operating statements, rent roll, etc. provided by the Owner. Notwithstanding, KET Enterprises Incorporated does not make any warranties about the information contained in this marketing package. Every prospective purchaser should verify the information and rely on his accountants or attorneys for legal and tax advice. This offer is As-Is, Where-Is. Answers to specific inquiries will have to be supplied by the Owner and are available upon request. Rates of return vary daily. No representations are made concerning environmental issues, if any.

6 201 Emerson Street 201 Emerson Street Houston, TX Unit Mix UNIT MIX FEB EW Type No. Units Sq Ft Total SqFt Market Rent Total Rent Rent/SF +EW 1 Bed/1 Bath ,160 $1,193 $22,670 $1.86 +EW 2 Bed/1 Bath $1,500 $1,500 $1.85 TOTALS AND AVERAGES Source: Owner ,970 $1,209 $24,170 $1.86 Total Units Average Sq. Ft. Total Sq. Feet Average Rent/Unit Total Rent Average Rent/ SF Apartment Features* Air Conditioning Hardwood Floors (some units) Granite Countertops Cable Ready Dishwasher Disposal Range/Oven Refrigerator Stainless Steel Appliances Microwave Tiled Bathrooms Built-in Storage System (some units) Walk In Closets Property Features* All Bills Paid Cats Allowed Ceiling Fans Hardwood Flooring Gated Entrance High Speed Internet Dogs Allowed Laundry Facility On-Site Onsite Pool Ample Parking Attached Garage Easy Access to Houston Light Rail Lush Landscaping Smoke Free

7 201 Emerson Street 201 Emerson Street Houston, TX Location

8 201 Emerson Street 201 Emerson Street Houston, TX Aerial 201 Emerson St.

9 201 Emerson Street 201 Emerson Street Houston, TX Rent Comparables Skylane Montrose 502 W Alabama St Westmoreland Central Apartments 3619 Garrott St 3618 Garrott 3618 Garrott St. Hawthorne Apartments 405 Hawthorne St Spruce Garrott 3602 Garrott St Rent Comparables (Apartment Data Services -February 2018) Year Property Name Year Built Occ #Units Avg SF Avg Rent Renovated 1960 N/A 91% $795 ABP 1956 N/A 96% $1, N/A 93% $1,047 Totals/Averages Comps 1961 N/A 93% $1,024 +E $ Emerson St. 201 Emerson St. ABP = All Bill Paid % $1,209 ABP $1.86 Sub-Market Averages - Montrose Museum Midtown 87% 13, $1, Houston Market Avgs 89% 641, $1,016 $1.152 EWG 1965 N/A 92% $1,091 +E +E P/SF N/A 90% $1,185 +E EW

10 201 Emerson Street 201 Emerson Street Houston, TX Sales Comparables Property Name Date Sold Price Total Sq. Ft. Price/Unit Price/SF Built Units Garrott 3602 Garrott 03/20/17 $2,850,000 11,487 $142,500 $ Woodhead 2423 Woodhead 04/01/17 $675,000 3,996 $168,750 $ Whitehall 1903 Portsmouth 11/01/16 $4,292,000 25,042 $148,000 $ La Villa Carrie 1919 Portsmouth 11/01/16 $4,440,000 30,300 $148,000 $ Park 2323 Park 09/18/17 $590,000 2,979 $147,500 $ Totals/Averages Comps $2,569,400 14,761 $150,950 $ Emerson St. 201 Emerson St. $3,000,000 12,970 $150,000 $

11 201 Emerson Street 201 Emerson Street Houston, TX M O N T R O S E Montrose, a central Houston community established in 1911, is a demographically diverse neighborhood with renovated mansions, bungalows with wide porches, and cottages located along tree-lined boulevards. Montrose is a major cultural hub. The area was named as one of the "ten great neighborhoods in America" by the American Planning Association, in Because of the inclusion of Montrose, the Houston Heights, and the Rice University area, it is nicknamed "hipstrict", referring to its progressive and urban ethic Montrose houses five of the city's 15 designated historic districts. Development over the years has maintained, if not added to, the community s distinctive personality which encompasses an interesting selection of architecture. Whether its antique shopping in the West Gray/River Oaks shopping areas, enjoying art, science or history at one of the various museums or simply hanging with friends at a local restaurant or bar, there is always something to see and do in the Montrose area. AREA DEVELOPMENT The Montrose area is Houston s true live/work/play submarket, Montrose has a little bit of everything. River Oaks, Midtown, Upper Kirby, and Afton Oaks provide the submarket with a range of diverse living, working, retail, and entertainment destinations that continually attract the who s who of Houston. In addition, amenities like Memorial Park and the River Oaks District as well as access to Uptown, the Museum District, andthe CBD all provide renters with plenty to do. Developers have always favored building in this area but with the added competition, it will take time for these new units to lease. Of the properties built during the first wave ( ) of supply, most are fully stabilized. The trouble arises in the properties late to the party ( ). Leasing slowed considerably last year, and many of these properties aren't close to reaching stabilization. Demographics can support pricey new apartments and are a main reason so many are built here. More than 60% of households in the area are renters. And when combined with the fact that residents here earn a median income of $85,000/year, the $1,750/month rental rates and a glut of new supply can be justified.

12 HOUSTON, TEXAS A T A G L A N C E The City of Houston, the largest city in Texas and the fourth largest city in the United States, is located on the coastal prairies of southeast Texas and is home to a diverse array of industries and cultures. Houston is located in Harris County, the nation s third most populous county. The Houston region, officially designated as the Houston - Woodlands - Sugar Land Metropolitan Statistical Area (MSA), comprises Harris County and eight other counties: Austin, Brazoria, Chambers, Fort Bend, Galveston, Liberty, Montgomery, and Waller. The Houston MSA has a population of approximately 6,656,947 according to new U.S. Census Bureau estimates. The nine county metropolitan area is the fifth-largest metropolitan area in the nation and covers 9,444 square miles. The most urbanized portions of the Houston area are in Harris County, the southern part of Montgomery County, and the eastern section of Fort Bend County. Houston is home to the tenth largest port in the world and is in close proximity to Mexico, a key trading partner. It has a temperate climate and an affordable cost of living. With a population exceeding 2.3 million, the population base includes a wide variety of racial and ethnic groups that give Houston a rich diversity and cosmopolitan feel. The U.S. Bureau of Economic analysis estimates metro Houston's Gross Domestic Product (GDP) at around $503.3 billion. If the MSA were an independent nation, its economy would rank 23rd largest in the world, behind Taiwan ($523.6 billion), but ahead of Sweden ($499.4 billion). Source: Greater Houston Partnership Research, December 2016

13 Ever since its founding as a port city, Houston has been a dynamic international marketplace, attracting capital and people from all over the world. Today, Houston is the nation's fourth largest economy, and what Forbes calls "America's next great global city." Houston s annual trade growth is among the highest in the nation with a total annual trade value growth of 84.6 percent, from $ million in 2005 to $ million in 2015; exceeding the nation s growth rate of 45.2 percent during that same period. Houston is already a leading exporter, and our exports have increased 189% since In fact, Houston is the #1 metro exporter in the top energy related industries. But recent low oil prices have slowed our rate of growth. A plan to boost goods exports can further diversify our economy, help existing companies grow, and create more jobs. Houston's export plan will connect small and medium-sized enterprises to growing markets, while positioning the region as a location of choice for global investors. Source: Greater Houston Partnership Research, December 2016

14 Despite Setbacks Houston Still has a Strong Economy From 2010 to 2014, Houston added nearly half a million jobs. This period of phenomenal growth provided the momentum needed to sustain the region through the early stages of the energy downturn that began at the end of '14. As oil prices and rig counts fell through '15 and early '16, Houston's job growth began to slow. In '15, the region added 15,200 jobs, and added 13,400 jobs in the 12-months ending Oct '16. In spite of the energy industry's worst downturn in history, Houston managed to post 12-month net job gains throughout this period. No Single Industry or Sector Dominates Houston Employment A strong U.S. economy, momentum from the previous economic boom, robust population growth, and the $50 billion in petrochemical plant expansions have helped offset losses in upstream energy and manufacturing. Houston's Service-Providing Sector Continued to Add Jobs During the Energy Downturn The goods-producing industries (mining and logging, construction, and manufacturing) peaked at 586,300 jobs in December '14, then fell to 536,400 jobs in October '16. Mining and logging, primarily oil and gas extraction and support activities, lost 25,600 jobs, a 22.9 percent decrease. These losses rippled through the economy, triggering declines in other sectors, particularly durable goods manufacturing, wholesale trade and professional and business services. Source: Texas Workforce Commission Aug '16 Construction, helped by the petrochemical plant expansions on the eastside of Houston, gained 6,100 jobs over the same period. Manufacturing lost 30,400 jobs and fabricated metal products lost 12,100 jobs. Construction and mining machinery lost 14,200 jobs, and computer and electronics lost 2,300 jobs. The service-providing industries added 66,600 jobs between December '14 and October '16. Gains in industries that rely on population growth offset losses in sectors tied to energy. Trade, transportation, and utilities lost 1,400 jobs, financial activities added 3,000 jobs, and professional, scientific and technical services cut 7,700 jobs. Healthcare and social assistance added 24,500 jobs, accommodation and food services added 27,600, and government gained 14,700 jobs. The service industries account for 4 out of 5 workers in the region The goods-producing sector accounts for nearly 1 in 5 of the region's jobs Source: Greater Houston Partnership Research, December 2016

15 E c o n o m i c F o r e c a s t Renowned Real Estate Economist States: ' The Downturn Seems to be Over' According to an article by Jim Gaines, a research economist at the Real Estate Center at Texas A&M University, dated January 6, 2017, in the Houston Business Journal, the economic downturn that began in November 2014 seems to be over. Jim Gaines states there's generally a two-to three-year lag between the time the energy sector goes into a slump and all of its impacts on the economy are felt. Houston's energy slump unofficially began on November 27, 2014, when OPEC announced it wouldn't adjust oil production levels. Gaines said that Houston should see some of the slump's final lag effects this year. Gaines also noted that 2016 is poised to be the best year on-record for Houston home sales. The Greater Houston Partnership recorded that November 2016's home sales were the best November on-record for single-family home sales. Much of that boom can be attributed to Houston's population growth. Despite the oil slump, few residents are leaving Houston. In 2016, Houston welcomed 132,000 new residents (45,600 households). Gaines also states that Houston's population is expected to rise to 7.4 million by 2020 and should double to 14 million by Additionally, according to an article dated January 11, 2017, by G. Scott Thomas of Buffalo Business First, a sister paper to the Houston Business Journal, Houston is on the brink of a population milestone. Buffalo Business First has developed a computer formula that uses 15 years of demographic data to estimate the population of any community at any given moment, and according to predictions by Business First Houston will reach 6.9 million on March 13, 2017 and 7.0 million on November 17, Source: 1/6/16, Cara Smith What are other signals the downturn is over? As stated by the Greater Houston Partnership's '2017 Houston Employment Forecast': West Texas Intermediate (WTI) the U.S. benchmark for light, sweet crude, now trades near $50/barrel. WTI traded as low as $26 in mid-february The number of drilling rigs working in the U.S. reached 593 in mid-november. Only 404 rigs, the fewest in recent history, were in the field in mid-may. After 21 months below 50, the Houston Purchasing Managers Index hit 51.1 in October Readings above 50 signal pending expansion; below 50, contraction. The region created 13,400 jobs in the 12 months ending October '16. Annualized growth had sunk as low as 3,200 jobs in May '16. The forecast also asserts, "the recent downturn could be compared to a tropical storm. The damage done depended on where one stood as the system passed over Houston. Those businesses closest to the energy industry felt the full fury of the storm. Those distant from oil and gas, to extend the metaphor a bit further - on the dry side of the storm - were buffeted but not blown away." The forecast calls for the strongest job growth in manufacturing, wholesale trade, retail trade, finance and insurance, real estate, business, professional and technical services, other services and government. Source: Greater Houston Partnership Research, December 2016

16 MULTI-FAMILY... Moving Forward Cautiously Since December '14, developers have added more than 37,000 units to local inventory. Another 15,000 are under construction, the majority scheduled to open in the next 12 months. That equates to 52,000 units delivered in a market that's just beginning to recover. Over the past 12 months, the region has absorbed about 6,500 units. The glut cut overall occupancy to 88.9% in November '16, down from 91.5% at its June '15 peak. Occupancy rates below 90% favor tenants. Rents have responded accordingly, dropping between 2% and 6% depending on the apartment class. The market absorbed 14,000 Class A units through the first 10 months of '16, but this performance came at the expense of Class B, C and D properties, which collectively lost 7,500 tenants over the same period. Traditional Class B and C tenants have been enticed into the Class A market with deposit waivers, free rent (as much as 3 months) and other enticements. Whether these tenants renew their leases remains to be seen, but is however, doubtful. If one uses the industry rule of thumb that for every six jobs created, the market absorbs one unit, then Houston needs to add 156,000 jobs to cut the current surplus in half. Once the economy recovers, growth should return to the long-term trend - 50,000 to 60,000 per year. Source: Greater Houston Partnership Research, December 2016 Ignoring Class B and C Apartment Market is a 'Big Mistake' Despite the fact that during the economic downturn some Class B and C tenants were lured into the Class A market with large free rent waivers and other concessions, with the improving conditions a large portion of them most likely will not renew and will return to the Class B and C market. In an article in the Houston Business Journal, dated September, 28, 2016, by Paul Takahashi, Todd Marix of Holliday, Fenoglio, Fowler (HFF) observed that ignoring the Class B and C apartment market is a 'big mistake'. As stated by the article, when Todd Marix brought Broadstone Grand Parkway to market he expected he might receive bids from six or seven interested buyers - par for the oil downturn. The 342-unit garden apartment complex, built in 2009, had solid occupancy in the high 90th percentile but was offering two months free rent amid increasing competition from nearby apartments in Katy. However, Marix's multifamily investment team at HFF received a whopping 18 bids for the property. The deal is still under contract but Marix said it sparked a bidding war between local and out-of-town private equity firms. "We were shocked by the level of participation," Marix said. "We haven't seen this kind of bidding behavior in a long time. It tells me there's some optimism in the market." Despite the oil slump, many opportunistic apartment buyers are returning to Houston in search of good deals, according to Marix. Young apartment investors are also looking to get into the market during the oil slump, Marix said. These buyers are willing to accept lower rents for one or two years and hope that Houston's apartment market will recover around "Buyers like Advenir are relatively new to Houston, but they like the recovery aspect," Marix said. "These buyers have patient capital and want to buy in Houston at an advantageous time. They know things will be bumpy for the next year or two but are hoping they will come out the other end with a great deal." Most of these new Houston buyers are focusing on the city's Class B and C apartment market during the energy downturn, Marix said. Marix estimates there are about 620,000 apartment units in Houston, of which the majority - two-thirds - are Class B and C apartments. Source: 9/28/16, Paul Takahashi

17 201 Emerson Street 201 Emerson Street Houston, TX Demographics SUMMARY PROFILE 1 Mile Radius 2 Mile Radius 3 Mile Radius Census, 2017 Estimates with 2022 Projections Calculated using Proportional Block Groups 201 Emerson Street 201 Emerson Street Houston, TX Ethnicity - 1 Mile Radius 2017 Estimated Population 29, , , Projected Population 31, , , Census Population 24,063 80, ,799 POPULATION 2000 Census Population 21,779 71, ,096 Projected Annual Growth 2017 to % 1.5% 1.2% Historical Annual Growth 2000 to % 2.6% 3.6% 25% 49% White Black Asian 2017 Median Age % Other Hispanic EDUCATION BUSINESS INCOME RACE AND ETHNICITY HOUSEHOLDS (AGE 25+) 2017 Estimated Households 16,339 52,475 90, Projected Households 17,967 57,963 99, Census Households 13,680 42,368 72, Census Households 11,617 34,744 59,287 Projected Annual Growth 2017 to % 2.1% 2.1% Historical Annual Growth 2000 to % 3.0% 3.1% 2017 Estimated White 65.4% 59.8% 56.7% 2017 Estimated Black or African American 15.8% 22.8% 26.5% 2017 Estimated Asian or Pacific Islander 7.2% 7.2% 7.3% 2017 Estimated American Indian or Native Alaskan 0.6% 0.4% 0.4% 2017 Estimated Other Races 11.0% 9.7% 9.2% 2017 Estimated Hispanic 25.2% 24.4% 25.6% 2017 Estimated Average Household Income $118,650 $129,703 $136, Estimated Median Household Income $81,424 $89,206 $95, Estimated Per Capita Income $66,609 $67,146 $58, Estimated Elementary (Grade Level 0 to 8) 3.0% 3.1% 4.4% 2017 Estimated Some High School (Grade Level 9 to 11) 3.2% 3.5% 6.1% 2017 Estimated High School Graduate 8.8% 9.9% 13.3% 2017 Estimated Some College 16.6% 16.6% 16.1% 2017 Estimated Associates Degree Only 3.8% 3.9% 4.4% 2017 Estimated Bachelors Degree Only 32.6% 32.1% 28.3% 2017 Estimated Graduate Degree 32.0% 30.9% 27.3% 2017 Estimated Total Businesses 2,714 11,925 23, Estimated Total Employees 22, , , Estimated Employee Population per Business Estimated Residential Population per Business % 12% 25% Non-Hispanic Hispanic 75% Average Income Subject - 1 Mile Radius $140,000 $118,650 $120,000 $100,000 $80,000 $72,703 $60,000 $40,000 $20,000 $0 Subject Houston

18 201 Emerson Street 201 Emerson Street Houston, TX Flood Plain Map 201 Emerson St.

19 201 Emerson Street 201 Emerson Street Houston, TX 77006

20 201 Emerson Street 201 Emerson Street Houston, TX 77006

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22 201 Emerson Street 2727 Brazos Lofts 2727 Brazos apartment homes D I S C L A I M E R & N O N-E N D O R S E M E N T N O T I C E Disclaimer: The information contained in this Memorandum reflects material from sources deemed to be reliable, including data such as operating statements, rent rolls, etc. However, we (KET Enterprises Incorporated or any of the owners or officers, directors, employees, agents or representatives of any such entities) have not verified its accuracy and make no guarantee or representation about it. It is submitted subject to the possibility of errors, omissions, change of rental or other conditions. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. We make no representations or warranties, expressed or implied, as to the validity, accuracy or completeness of the information provided or to be provided, and nothing herein shall be deemed to constitute a representation, warranty or promise by any such parties as to the future performance of the Property or any other matters set forth herein. You and your tax and legal advisors should verify the information and rely on his accountants or attorneys for legal and tax advice. Rates of return vary daily. No representations are made concerning environmental issues, if any. Non-Endorsement Notice: KET Enterprises Incorporated is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by KET Enterprises Incorporated or any of the owners or officers, directors, employees, agents or representatives of any such entities, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY FOR INFORMATION PLEASE CONTACT: RAJESH H. PATEL Investment Sales Associate KET Enterprises Incorporated rpatel@ketent.com ext 103 KET ENTERPRISES INCORPORATED 4205 San Felipe I Suite 355 I Houston, Tx Broker License #