Cayuga Commons (Illustrative Case)
Read only
Sample history. One row prices the exit cap off the 10-year Treasury, and one row prices a floating senior rate. Neither is saved on the worked example.
Latest, 2026-10-05: PURSUE, 4 readings.
DSCR alert level 1.40x
Buy box
Edit buy boxFits
- Levered IRR is 15.34%, at or above the 12.00% target.
- Minimum DSCR is 1.46x, at or above the 1.25x floor.
- LTV is 65%, at or under the 75% cap.
- Price is $8,500,000, at or under the $25,000,000 cap.
- Property type is not limited.
- Markets are not limited.
- Hold is 7 years, inside 5 to 10 years.
Proposed update2 inputs from the 2026-10-16 prints. Not applied.
Proposed on 2026-10-19 because a linked print moved. The saved deal is unchanged until this is applied. Applying records each change in the deal's edit history, and is refused if the saved deal has changed since.
- Interest rate6.25% to 6.50%
SOFR printed 4.56% for 2026-10-16 (New York Fed), plus the locked 194 bps spread.
- Exit cap rate6.50% to 6.75%
The 10-year Treasury printed 4.75% for 2026-10-16 (Treasury yield curve), plus the locked 200 bps spread.
| Reading | Saved deal | With update |
|---|---|---|
| Verdict | PURSUE | PASS |
| Levered IRR | 15.34% | 14.09% |
| Multiple | 2.4351x | 2.2768x |
| Min DSCR | 1.46x | 1.42x |
| NOI | $594,066.40 | $594,066.40 |
Worked example. The prints are illustrative, so nothing here can be applied.
- 2026-08-17. Verdict flipped from PURSUE to PASS.
- 2026-09-14. Min DSCR crossed below 1.40x, from 1.46x to 1.17x.
- 2026-10-05. Verdict flipped from PASS to PURSUE.
- 2026-10-05. Min DSCR crossed above 1.40x, from 1.17x to 1.46x.
2026-07-06
PURSUE, 15.34% levered IRR, min DSCR 1.46x, NOI $594,066.40
Fixture. Published assumptions. No benchmark was applied.
2026-08-17
PASS, 13.51% levered IRR, min DSCR 1.46x, NOI $594,066.40
Fixture. The exit cap was read 50 bps wider, as if it referenced a higher 10-year Treasury.
2026-09-14
PASS, 12.46% levered IRR, min DSCR 1.17x, NOI $594,066.40
Fixture. The senior rate was read higher, as if a floating loan had followed SOFR up.
2026-10-05
PURSUE, 15.34% levered IRR, min DSCR 1.46x, NOI $594,066.40
Fixture. Back to the published worked example. This row is not a live watch.