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Levered IRR13.0% Equity Multiple1.94x LP IRR13.0% Yield-on-Cost6.6% Dev Spread131 bps Exit Value$67.7M DSCR1.45x CoC Return5.4% NOI Yr 3$3.38M Levered IRR13.0% Equity Multiple1.94x LP IRR13.0% Yield-on-Cost6.6% Dev Spread131 bps Exit Value$67.7M DSCR1.45x CoC Return5.4% NOI Yr 3$3.38M

Williamson Street Multifamily Development

826 Williamson Street, Madison, WI · DEVELOPMENT · 188 Units · Signal CRE · signalcre.io · Underwriting Memo · March 26, 2026

🟡 REVIEW — MOST CRITERIA MET, DIG DEEPER Score: 4/5
RETURN SUMMARY
13.0%Levered IRR
1.94xEquity Multiple
13.0%LP IRR
6.6%Yield-on-Cost
ANNUAL NOI PROJECTION
NOI
$1.05M
$2.54M
$3.38M
$3.47M
$3.55M
IRR > 12% ✓ EM > 1.75x ✓ LP IRR > 10% ✓ DSCR ≥ 1.20x ✓ Dev Spread ≥ 150bps ✗

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Signal CRE was built by Andrew Schulze, an MSRE candidate at the University of Wisconsin — one of the top-ranked real estate programs in the country — graduating May 2026.

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60s Average analysis time
30+ IRR scenarios per report
MSRE University of Wisconsin
3 Asset classes covered

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