Filed Pursuant to Rule 253(g)(2)

File No. 024-12424

Arrived Homes 4, LLC

SUPPLEMENT NO. 2 DATED October 27, 2026
TO THE OFFERING CIRCULAR DATED June 12, 2026

This document supplements, and should be read in conjunction with, the offering circular of Arrived Homes 4, LLC ("we", "our" or "us"), dated June 12, 2026, as previously supplemented, and filed by us with the Securities and Exchange Commission (the "Commission") (collectively, the "Offering Circular"). Unless otherwise defined in this supplement, capitalized terms used in this supplement shall have the same meanings as set forth in the Offering Circular.

 

The purpose of this supplement is to disclose:

 

 

●

Our Net Asset Value ("NAV") Per Interest for each series as of October 25, 2026.

 

Net Asset Value as of October 25, 2026

 

As of October 25, 2026, our net asset value ("NAV") per interest for each series is set in the table below. This NAV per interest shall be effective until updated by us on or about January 25, 2027.

 

Series

 

NAV Per Interest

 

Allen

 

$10.24

 

Annadale

 

$9.69

 

Arcola

 

$9.47

 

Arnold

 

$10.10

 

Breckenridge

 

$10.49

 

Bristol

 

$10.21

 

Cher

 

$10.57

 

Cole

 

$9.98

 

Commodore

 

$9.59

 

Cordelia

 

$9.64

 

Cranberry

 

$9.82

 

Dan

 

$9.67

 

Flintwood

 

$10.08

 

Funderburk

 

$10.19

 

Gentry

 

$9.71

 

Gerald

 

$9.78

 

Harold

 

$9.97

 

Holly

 

$10.28

 

Monterey

 

$10.38

 

Mystic

 

$9.32

 

Nicole

 

$9.81

 

Olivia

 

$9.92

 

Prakash

 

$9.85

 

Resolana

 

$10.10

 

Sachi

 

$9.70

 

Sandridge

 

$9.93

 

Sanford

 

$9.23

 

Satjanon

 

$9.58

 

Shawnee

 

$9.61

 

Sonny

 

$10.66

 

Sullivan

 

$9.62

 

Troxler

 

$9.65

 

Tyner

 

$9.08

 

Wendell

 

$9.94

 

Westbury

 

$9.71

 

Westgate

 

$9.62

 

Wizard

 

$9.73

 

 

The following sets forth the calculation of each series' NAV per interest:

 

BALANCE SHEET (UNAUDITED) [1]

 

 

 

Allen

 

 

Annadale

 

 

Arcola

 

 

Arnold

 

 

Breckenridge

 

 

Bristol

 

 

Cher

ASSETS

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Current assets:

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Cash

$

8,818 

 

$

19,260 

 

$

17,297 

 

$

12,666 

 

$

19,064 

 

$

20,400 

 

$

13,463 

Other receivables

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Prepaid expenses

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Deposits

 

3,649 

 

 

4,466 

 

 

6,215 

 

 

4,451 

 

 

7,297 

 

 

6,019 

 

 

3,614 

Property and equipment, net

 

285,912 

 

 

334,909 

 

 

291,945 

 

 

296,918 

 

 

352,387 

 

 

335,450 

 

 

276,549 

Total assets

$

299,215 

 

$

359,584 

 

$

316,548 

 

$

314,974 

 

$

379,793 

 

$

362,852 

 

$

294,483 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

LIABILITIES

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Current liabilities:

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Accrued expenses

$

2,829 

 

$

2,437 

 

$

- 

 

$

3,040 

 

$

3,286 

 

$

3,172 

 

$

1,749 

Accounts payable

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Due to (from) related parties

 

4,162 

 

 

3,940 

 

 

7,071 

 

 

3,761 

 

 

5,353 

 

 

3,785 

 

 

2,816 

Tenant deposits

 

2,095 

 

 

2,095 

 

 

4,190 

 

 

2,595 

 

 

4,543 

 

 

3,843 

 

 

1,895 

Note payable, related party

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Mortgage payables

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Total liabilities

$

9,086 

 

$

8,472 

 

$

11,261 

 

$

9,395 

 

$

13,181 

 

$

10,799 

 

$

6,459 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

MEMBERS' EQUITY (DEFICIT)

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Members' capital

 

301,199 

 

 

359,517 

 

 

314,969 

 

 

305,894 

 

 

364,320 

 

 

356,213 

 

 

300,381 

Accumulated deficit

 

(11,070) 

 

 

(8,405) 

 

 

(9,682) 

 

 

(315) 

 

 

2,292 

 

 

(4,160) 

 

 

(12,357) 

Total members' equity (deficit)

$

290,129 

 

$

351,112 

 

$

305,287 

 

$

305,579 

 

$

366,612 

 

$

352,053 

 

$

288,024 

Total liabilities and members' equity (deficit)

$

299,215 

 

$

359,584 

 

$

316,548 

 

$

314,974 

 

$

379,793 

 

$

362,852 

 

$

294,483 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

NET FAIR VALUE OF ASSETS

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Net asset value with members' equity (without fair value adjustments)

 

290,129 

 

 

351,112 

 

 

305,287 

 

 

305,579 

 

 

366,612 

 

 

352,053 

 

 

288,024 

Net adjustments to fair value

 

74,050 

 

 

51,579 

 

 

37,980 

 

 

64,627 

 

 

93,019 

 

 

70,939 

 

 

70,336 

TOTAL NET ASSETS

$

364,179 

 

$

402,691 

 

$

343,267 

 

$

370,206 

 

$

459,631 

 

$

422,991 

 

$

358,360 

NET ASSET VALUE PER INTEREST

$

10.24 

 

$

9.69 

 

$

9.47 

 

$

10.10 

 

$

10.49 

 

$

10.21 

 

$

10.57 

 

 

 

Cole

 

 

Commodore

 

 

Cordelia

 

 

Cranberry

 

 

Dan

 

 

Flintwood

 

 

Funderburk

ASSETS

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Current assets:

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Cash

$

9,957 

 

$

22,657 

 

$

14,184 

 

$

12,552 

 

$

34,898 

 

$

19,445 

 

$

17,687 

Other receivables

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Prepaid expenses

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Deposits

 

4,230 

 

 

5,481 

 

 

4,575 

 

 

4,075 

 

 

3,453 

 

 

4,762 

 

 

3,647 

Property and equipment, net

 

281,491 

 

 

370,542 

 

 

333,407 

 

 

304,213 

 

 

260,081 

 

 

348,970 

 

 

253,405 

Total assets

$

296,509 

 

$

399,609 

 

$

352,983 

 

$

321,675 

 

$

299,154 

 

$

374,224 

 

$

275,493 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

LIABILITIES

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Current liabilities:

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Accrued expenses

$

2,395 

 

$

4,313 

 

$

3,215 

 

$

2,332 

 

$

2,192 

 

$

4,382 

 

$

3,238 

Accounts payable

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Due to (from) related parties

 

3,644 

 

 

4,238 

 

 

4,733 

 

 

2,933 

 

 

3,713 

 

 

4,389 

 

 

1,521 

Tenant deposits

 

2,345 

 

 

2,595 

 

 

2,295 

 

 

2,095 

 

 

1,695 

 

 

2,495 

 

 

2,200 

Note payable, related party

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Mortgage payables

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Total liabilities

$

8,384 

 

$

11,146 

 

$

10,244 

 

$

7,361 

 

$

7,600 

 

$

11,266 

 

$

6,959 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

MEMBERS' EQUITY (DEFICIT)

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Members' capital

 

295,918 

 

 

396,382 

 

 

350,595 

 

 

324,693 

 

 

304,351 

 

 

369,032 

 

 

284,259 

Accumulated deficit

 

(7,792) 

 

 

(7,919) 

 

 

(7,856) 

 

 

(10,379) 

 

 

(12,796) 

 

 

(6,074) 

 

 

(15,725) 

Total members' equity (deficit)

$

288,126 

 

$

388,463 

 

$

342,739 

 

$

314,314 

 

$

291,554 

 

$

362,958 

 

$

268,534 

Total liabilities and members' equity (deficit)

$

296,509 

 

$

399,609 

 

$

352,983 

 

$

321,675 

 

$

299,154 

 

$

374,224 

 

$

275,493 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

NET FAIR VALUE OF ASSETS

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Net asset value with members' equity (without fair value adjustments)

 

288,126 

 

 

388,463 

 

 

342,739 

 

 

314,314 

 

 

291,554 

 

 

362,958 

 

 

268,534 

Net adjustments to fair value

 

64,215 

 

 

55,322 

 

 

61,491 

 

 

51,179 

 

 

52,419 

 

 

78,010 

 

 

48,966 

TOTAL NET ASSETS

$

352,341 

 

$

443,784 

 

$

404,229 

 

$

365,493 

 

$

343,973 

 

$

440,968 

 

$

317,500 

NET ASSET VALUE PER INTEREST

$

9.98 

 

$

9.59 

 

$

9.64 

 

$

9.82 

 

$

9.67 

 

$

10.08 

 

$

10.19 

 

 

 

Gentry

 

 

Gerald

 

 

Harold

 

 

Holly

 

 

Monterey

 

 

Mystic

 

 

Nicole

ASSETS

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Current assets:

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Cash

$

18,944 

 

$

9,711 

 

$

16,834 

 

$

24,853 

 

$

14,085 

 

$

11,820 

 

$

11,574 

Other receivables

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Prepaid expenses

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Deposits

 

4,972 

 

 

3,255 

 

 

3,997 

 

 

4,242 

 

 

3,430 

 

 

3,312 

 

 

4,447 

Property and equipment, net

 

327,634 

 

 

300,063 

 

 

296,567 

 

 

301,401 

 

 

284,359 

 

 

294,012 

 

 

290,894 

Total assets

$

352,615 

 

$

313,833 

 

$

318,259 

 

$

331,288 

 

$

302,732 

 

$

310,142 

 

$

307,634 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

LIABILITIES

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Current liabilities:

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Accrued expenses

$

2,689 

 

$

2,494 

 

$

2,582 

 

$

3,642 

 

$

2,775 

 

$

3,514 

 

$

2,240 

Accounts payable

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Due to (from) related parties

 

3,547 

 

 

3,555 

 

 

3,681 

 

 

3,098 

 

 

3,957 

 

 

3,789 

 

 

3,762 

Tenant deposits

 

2,795 

 

 

1,850 

 

 

2,250 

 

 

2,195 

 

 

1,750 

 

 

2,195 

 

 

2,345 

Note payable, related party

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Mortgage payables

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Total liabilities

$

9,031 

 

$

7,899 

 

$

8,513 

 

$

8,935 

 

$

8,482 

 

$

9,498 

 

$

8,347 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

MEMBERS' EQUITY (DEFICIT)

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Members' capital

 

348,749 

 

 

329,032 

 

 

326,177 

 

 

322,034 

 

 

303,458 

 

 

315,056 

 

 

296,733 

Accumulated deficit

 

(5,165) 

 

 

(23,098) 

 

 

(16,432) 

 

 

319 

 

 

(9,209) 

 

 

(14,412) 

 

 

2,554 

Total members' equity (deficit)

$

343,584 

 

$

305,934 

 

$

309,746 

 

$

322,353 

 

$

294,250 

 

$

300,644 

 

$

299,287 

Total liabilities and members' equity (deficit)

$

352,615 

 

$

313,833 

 

$

318,259 

 

$

331,288 

 

$

302,732 

 

$

310,142 

 

$

307,634 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

NET FAIR VALUE OF ASSETS

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Net asset value with members' equity (without fair value adjustments)

 

343,584 

 

 

305,934 

 

 

309,746 

 

 

322,353 

 

 

294,250 

 

 

300,644 

 

 

299,287 

Net adjustments to fair value

 

51,419 

 

 

57,570 

 

 

59,789 

 

 

61,085 

 

 

80,030 

 

 

41,025 

 

 

57,331 

TOTAL NET ASSETS

$

395,003 

 

$

363,504 

 

$

369,535 

 

$

383,438 

 

$

374,280 

 

$

341,669 

 

$

356,618 

NET ASSET VALUE PER INTEREST

$

9.71 

 

$

9.78 

 

$

9.97 

 

$

10.28 

 

$

10.38 

 

$

9.32 

 

$

9.81 

 

 

 

Olivia

 

 

Prakash

 

 

Resolana

 

 

Sachi

 

 

Sandridge

 

 

Sanford

 

 

Satjanon

ASSETS

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Current assets:

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Cash

$

27,119 

 

$

28,638 

 

$

6,531 

 

$

7,859 

 

$

16,489 

 

$

6,688 

 

$

23,996 

Other receivables

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Prepaid expenses

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Deposits

 

4,464 

 

 

2,325 

 

 

5,627 

 

 

6,007 

 

 

5,286 

 

 

3,231 

 

 

3,678 

Property and equipment, net

 

302,205 

 

 

327,937 

 

 

278,524 

 

 

322,062 

 

 

322,050 

 

 

169,201 

 

 

364,915 

Total assets

$

334,645 

 

$

359,913 

 

$

291,315 

 

$

336,838 

 

$

344,618 

 

$

179,642 

 

$

393,427 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

LIABILITIES

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Current liabilities:

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Accrued expenses

$

3,582 

 

$

3,987 

 

$

3,545 

 

$

2,775 

 

$

3,627 

 

$

3,195 

 

$

2,240 

Accounts payable

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Due to (from) related parties

 

2,146 

 

 

2,206 

 

 

3,756 

 

 

3,652 

 

 

4,240 

 

 

2,486 

 

 

3,513 

Tenant deposits

 

2,295 

 

 

2,395 

 

 

2,145 

 

 

2,295 

 

 

3,743 

 

 

1,995 

 

 

2,495 

Note payable, related party

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Mortgage payables

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Total liabilities

$

8,023 

 

$

8,588 

 

$

9,446 

 

$

8,722 

 

$

11,609 

 

$

7,676 

 

$

8,248 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

MEMBERS' EQUITY (DEFICIT)

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Members' capital

 

332,600 

 

 

364,016 

 

 

295,265 

 

 

348,555 

 

 

341,345 

 

 

167,988 

 

 

385,860 

Accumulated deficit

 

(5,979) 

 

 

(12,691) 

 

 

(13,396) 

 

 

(20,439) 

 

 

(8,336) 

 

 

3,978 

 

 

(681) 

Total members' equity (deficit)

$

326,621 

 

$

351,325 

 

$

281,869 

 

$

328,115 

 

$

333,009 

 

$

171,966 

 

$

385,179 

Total liabilities and members' equity (deficit)

$

334,645 

 

$

359,913 

 

$

291,315 

 

$

336,838 

 

$

344,618 

 

$

179,642 

 

$

393,427 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

NET FAIR VALUE OF ASSETS

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Net asset value with members' equity (without fair value adjustments)

 

326,621 

 

 

351,325 

 

 

281,869 

 

 

328,115 

 

 

333,009 

 

 

171,966 

 

 

385,179 

Net adjustments to fair value

 

40,885 

 

 

43,861 

 

 

71,730 

 

 

58,768 

 

 

66,882 

 

 

26,232 

 

 

40,914 

TOTAL NET ASSETS

$

367,506 

 

$

395,186 

 

$

353,599 

 

$

386,883 

 

$

399,890 

 

$

198,198 

 

$

426,093 

NET ASSET VALUE PER INTEREST

$

9.92 

 

$

9.85 

 

$

10.10 

 

$

9.70 

 

$

9.93 

 

$

9.23 

 

$

9.58 

 

 

 

Shawnee

 

 

Sonny

 

 

Sullivan

 

 

Troxler

 

 

Tyner

 

 

Wendell

 

 

Westbury

ASSETS

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Current assets:

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Cash

$

21,810 

 

$

13,832 

 

$

18,506 

 

$

19,421 

 

$

12,842 

 

$

12,134 

 

$

10,464 

Other receivables

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Prepaid expenses

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Deposits

 

4,367 

 

 

3,896 

 

 

4,249 

 

 

4,595 

 

 

5,962 

 

 

4,288 

 

 

4,027 

Property and equipment, net

 

303,908 

 

 

276,549 

 

 

305,471 

 

 

292,180 

 

 

406,862 

 

 

286,834 

 

 

276,890 

Total assets

$

330,925 

 

$

295,134 

 

$

329,002 

 

$

316,986 

 

$

426,397 

 

$

304,032 

 

$

292,214 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

LIABILITIES

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Current liabilities:

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Accrued expenses

$

2,700 

 

$

3,467 

 

$

2,675 

 

$

- 

 

$

2,044 

 

$

2,183 

 

$

3,440 

Accounts payable

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Due to (from) related parties

 

2,940 

 

 

2,980 

 

 

4,010 

 

 

6,185 

 

 

6,115 

 

 

3,421 

 

 

3,129 

Tenant deposits

 

2,195 

 

 

1,895 

 

 

2,595 

 

 

2,445 

 

 

3,693 

 

 

2,245 

 

 

2,045 

Note payable, related party

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Mortgage payables

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

 

 

- 

Total liabilities

$

7,835 

 

$

8,342 

 

$

9,280 

 

$

8,630 

 

$

11,852 

 

$

7,848 

 

$

8,614 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

MEMBERS' EQUITY (DEFICIT)

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Members' capital

 

321,493 

 

 

294,478 

 

 

331,068 

 

 

310,412 

 

 

419,251 

 

 

297,553 

 

 

297,878 

Accumulated deficit

 

1,598 

 

 

(7,687) 

 

 

(11,346) 

 

 

(2,056) 

 

 

(4,706) 

 

 

(1,370) 

 

 

(14,279) 

Total members' equity (deficit)

$

323,091 

 

$

286,791 

 

$

319,722 

 

$

308,357 

 

$

414,545 

 

$

296,183 

 

$

283,600 

Total liabilities and members' equity (deficit)

$

330,925 

 

$

295,134 

 

$

329,002 

 

$

316,986 

 

$

426,397 

 

$

304,032 

 

$

292,214 

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

NET FAIR VALUE OF ASSETS

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

 

 

  

Net asset value with members' equity (without fair value adjustments)

 

323,091 

 

 

286,791 

 

 

319,722 

 

 

308,357 

 

 

414,545 

 

 

296,183 

 

 

283,600 

Net adjustments to fair value

 

36,528 

 

 

74,867 

 

 

52,894 

 

 

41,604 

 

 

42,106 

 

 

53,055 

 

 

50,603 

TOTAL NET ASSETS

$

359,619 

 

$

361,658 

 

$

372,616 

 

$

349,961 

 

$

456,651 

 

$

349,238 

 

$

334,203 

NET ASSET VALUE PER INTEREST

$

9.61 

 

$

10.66 

 

$

9.62 

 

$

9.65 

 

$

9.08 

 

$

9.94 

 

$

9.71 

 

 

 

Westgate

 

 

Wizard

ASSETS

 

  

 

 

  

Current assets:

 

  

 

 

  

Cash

$

19,665 

 

$

17,834 

Other receivables

 

- 

 

 

- 

Prepaid expenses

 

- 

 

 

- 

Deposits

 

5,054 

 

 

5,070 

Property and equipment, net

 

326,355 

 

 

318,481 

Total assets

$

352,058 

 

$

342,334 

 

 

  

 

 

  

LIABILITIES

 

  

 

 

  

Current liabilities:

 

  

 

 

  

Accrued expenses

$

2,611 

 

$

2,373 

Accounts payable

 

- 

 

 

- 

Due to (from) related parties

 

4,405 

 

 

3,933 

Tenant deposits

 

2,795 

 

 

2,795 

Note payable, related party

 

- 

 

 

- 

Mortgage payables

 

- 

 

 

- 

Total liabilities

$

9,811 

 

$

9,101 

 

 

  

 

 

  

MEMBERS' EQUITY (DEFICIT)

 

  

 

 

  

Members' capital

 

343,620 

 

 

333,942 

Accumulated deficit

 

(1,373) 

 

 

(709) 

Total members' equity (deficit)

$

342,247 

 

$

333,233 

Total liabilities and members' equity (deficit)

$

352,058 

 

$

342,334 

 

 

  

 

 

  

NET FAIR VALUE OF ASSETS

 

  

 

 

  

Net asset value with members' equity (without fair value adjustments)

 

342,247 

 

 

333,233 

Net adjustments to fair value

 

53,230 

 

 

49,086 

TOTAL NET ASSETS

$

395,477 

 

$

382,319 

NET ASSET VALUE PER INTEREST

$

9.62 

 

$

9.73 

 

[1] Estimated Balance Sheet as of August 31, 2026.

 


As described in the section "Description of the Securities Being Offered—Valuation Policies," in the Offering Circular, our operating agreement provides that, following the initial period, at the end of each quarterly period our Manager's internal accountants and asset management team will calculate our NAV using a process that reflects, among other matters:

 

 

●

an estimated value of our investments, as determined by the Manager's asset management team, including related liabilities, based upon (a) information from publicly available sources about (i) market rents, comparable sales information and interest rates and (ii) with respect to debt, default rates and discount rates, and (b) in certain instances reports of the underlying real estate provided by an independent valuation expert or automated valuation models;

 

 

●

the price of liquid assets for which third party market quotes are available;

 

 

●

accruals of our periodic distributions on our interests; and

 

 

●

estimated accruals of the revenues, fees and expenses where we will (a) amortize the brokerage fee, offering expenses and sourcing fee over the lesser of ten years and the fixed rate period of the long term financing tied directly to the assets (typically five to ten years), and (b) include accrued fees and operating expenses, accrued distributions payable, accrued management fees and any inter-company loans extended to the Company by our Manager.

 

Such determinations may include subjective judgments by the Manager regarding the applicability of certain inputs to market rents and comparable sales information. We do not utilize a capitalization rate approach in determining NAV, because given the nature of our investments in primary residences, we do not believe that the value of a many of our assets can be determined based solely on the business activities as the resale value of such asset will be decided independently of the success of such business activities.

 

Note, however, that the determination of our NAV is not based on, nor intended to comply with, fair value standards under U.S. GAAP, and such NAV may not be indicative of the price that we would receive for our assets at current market conditions. As a result, the calculation of our NAV may not reflect the precise amount that might be paid for your interests in a market transaction, and any potential disparity in our NAV may be in favor of either holders who redeem their interests, or holders who repurchase such interests, or existing holders. In instances where we determine that an appraisal of a property is necessary, including, but not limited to, instances where third party market values for comparable properties are either nonexistent or extremely inconsistent, we will engage an appraiser that has expertise in appraising residential real estate assets, to act as our independent valuation expert. The independent valuation expert is not responsible for, nor for preparing, our NAV per interest.

 

As there is no market value for the interests of any series as they are not expected to be listed or traded on any stock exchange (though periodic trading may become available pursuant to our arrangement with North Capital Private Securities ("NCPS"), which is intended to facilitate secondary transactions in interests on an alternative trading system owned and operated by NCPS, as described in the section "Description of Business—Liquidity Platform" in the Offering Circular), our goal in setting NAV on a quarterly basis is to provide a reasonable estimate of the value of our interests on a quarterly basis. However, each series property consists of residential real estate and, as with any residential real estate valuation protocol, the conclusions reached by the Manager's asset management team or internal accountants, as the case may be, are based on a number of judgments, assumptions and opinions about future events that may or may not prove to be correct. The use of different judgments, assumptions or opinions would likely result in different estimates of the value of our investments. In addition, for any given period, our published NAV may not fully reflect certain material events, to the extent that the financial impact of such events on our portfolio is not immediately quantifiable.