Offered for Sale. Bradfield Creek Townhomes. Presented By:

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1 Presented By: Multi-Family Investments Mishan Ice, Broker North Central Expressway, Suite 400 Dallas TX Offered for Sale Bradfield Creek Townhomes 832 Courtenay Place Garland TX $1,700, townhome units 2114 Woodnote used as office All utilities paid by tenants Safe, quiet neighborhood close to businesses and shopping Share subdivision with 20 individually owned townhomes Extensive updates in last two years

2 Executive Summary Bradfield Creek Townhomes List Price $1,700,000 Price Per Unit $73,077 Price Per Sq Ft $56.45 Tax Assessed $1,960,000 CAP 7.5% Total Units 26 Building Sq Ft Land Acres See tax Cross Street Castle Tax Parcel ID On tax profile Market DFW Sub Market Garland Year Built 1984 Foundation Type Slab Roof Type Composition Building Class B Location Class B Zoning Type Residential Washer/Dryer Connections HVAC Individual Fireplace in Units Yes Fire Sprinkler No Cable TV Individual No of Stories 2 Clubhouse No Pool on Property No Construction Utilities Parking Amenities Area Property Two story townhomes with wood and brick exterior frame and pitched roof. Each unit has individual HVAC. Each unit is sub-metered for individual utility billings through the City of Garland. Each unit has a garage and driveway for parking Each unit offers residents with frost free refrigerators, ceiling fans, mini blinds, and large backyards. Located in Garland, Texas, a suburban bedroom community of Dallas County. The area is built out predominately with residential single family homes. The Villas is located near major employment, government, educational facilities, churches, and transportation arteries. The Bradfield Creek Townhomes offers spacious rental housing at affordable prices.

3 Rent Roll Summary Unit Type Total Units % of Total Unit SF Monthly Rent Market Rent 2/2 4 15% 1000 $ $850 3/ % $ $950 Unit Rent Due 816 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 875 $ 20,900

4 Financial Summary Estimated Operating Data Estimated 2009 Scheduled Income $ 252,000 Less Vacancy $ 20,160 Gross Operating Income $ 231,840 Less Expenses $ 103,380 Net Operating Income $ 128,460 Less Loan Payment $ 101,208 Pre Tax Cash Flow $ 27,252 Proposed Financial Summary Loan Amount $1,275,000 Interest Rate 7% Annual Payment $101,208 Loan Type Conventional, 25% Down Payment

5 Estimated Expense Summary Estimated 2009 Taxes $ 49,176 Insurance $ 17,004 Management $ 12,600 Maintenance $ 12,600 Repairs $ 12,000 $103,380

6 Property Photos and Maps 32 Minutes from Downtown Dallas

7 Multi-Family Investments Example Unit Outside Picture - 1 Outside Picture - 2

8 Market Data Neighborhood Profile (2 mile radius) Demographics For Property Located At 2114 Woodnote Ln Garland, TX Dallas County Summary Information 2008 Estimate 2013 Estimate Population: Number of Households: Census Tract/Block 10 Year Population Growth Estimated Growth In 5 Years / 2 Household Growth Last % Years 10.49% -1.25% Household Forecast Growth 1.52% Owner Occupied 79% Median Home Median $93,300 Value Mortgage $1,099 Absentee Owner 21 Average House Hold Income $60,110 Median Rent $675 Average Median Vehicles 3.48 Household Size Value Married 56% College Graduate 17% Unmarried 44%

9 Home Characteristics Value Below $100,000 64% $100,000 And $150,000 32% $150,000 And $200,000 3% $200,000 And $300,000 1% $300,000 And $500,000 0% $500,000 and above 0% Year Built % % % % % % Affluency Factors Household Income 0 TO $25,000 18% $25,000 TO $35,000 7% $35,000 TO $50,000 18% $50,000 TO $75,000 27% $75,000 TO 20% $100,000 $100,000 and 10% Above Mortgage Expense Under $300 0% $300-$799 27% $800-$ % $2000 and Over 2% Rent Expense Less Than $499 13% $500 & $749 59% $750 & $999 29% $1000 & Over 0%

10 Professional/Lifestyle Characteristics Education Profession Lifestyle Commute No Diploma 22% Mgr/Prof 29% Owner 79% Time High 29% Technical 18% Occupied 0-14 Min 20% School Sales 28% Absentee 21% Min 37% Some 28% Administrative15% Owner Min 35% College Private House 3% Married 56% Over 60 Min 7% College 17% Hold Unmarried 44% Graduate Service 13% Graduate 3% Protective 1% Degree Services Farming 0% Skilled 2% Blue Collar 24% Private 84% Worker Employment Sector Private Worker 84% Government Worker 9% Self Employed Worker 5% Unpaid Family Worker 0% School Enrollment Public Pre-Primary 1% Private Pre-Primary 1% School School Public School 11% Private School 4% Public College 4% Private College 1% Not Enrolled In School 82%

11 Population Distribution by Gender Population 2441 Male Population 46% Female Population 54% Population Distribution by Age % % % % % 75+ 4% Geographic Block Group A Block Group is a cluster of blocks within a Census Tract. Block Groups contain between 250 and 550 homes. Average House Hold Income $60,110 Median Mortgage $1,099