Lakefront Duplex
New
For Sale
$1,390,000
94 Midwood Avenue, Wolcott, CT 06716
Multi-Family For Sale, Wolcott, CT
Property Size3,556 SF
Lot Size0.70 Acres
Price / SF$390.89
Days on Market4
Property Features for 94 Midwood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
r-30
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Basement, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 3
Parking
14
Fireplace
1
Basement
Partial
Lot features
Water View, Rolling
Elementary school
Per Board of Ed
High school
Wolcott
Directions
Central ave to Midwood ave. Stay left at stop sign and driveway is first on right.
Subdivision
Hitchcock Lakes
Standard status
Active
Size
3,556 SF
Lot size
0.70 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
14621
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating)
Cooling system
Central Air
Water source
Private
Water front
1
Building Details
Year built
1947
Listing Agency:
Showcase Realty, Inc.
(860) 274-7000
Listed By:
Michael Donato
(203) 509-9425
Added: Aug 17
Changed: Aug 19
Last Checked: Aug 20 at 7:06PM
MLS# 24199716
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This lakefront duplex property offers 3,556 square feet across two separate residences on 0.7 acres. The layout includes four bedrooms, four bathrooms, and a basement, with central air, a fireplace, private water service, and public sewer. Built in 1947, the property is currently configured with one apartment being used as a game room rather than as a separate living area.
Located at 94 Midwood Avenue in Wolcott, Connecticut, the property carries R-30 zoning. Its lakefront setting and two-residence configuration provide a distinct residential layout, while the existing room count and basement add functional space for household use.
Located at 94 Midwood Avenue in Wolcott, Connecticut, the property carries R-30 zoning. Its lakefront setting and two-residence configuration provide a distinct residential layout, while the existing room count and basement add functional space for household use.
Key Highlights
- Lakefront duplex on 0.7 acres
- 3,556 square feet with two separate residences
- Four bedrooms and four bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,064
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$801,280
$801.3K
Cap Rate 7%
$572,343
$572.3K
Cap Rate 9%
$445,156
$445.2K
Market Conditions
NOI Build-Up for 3,556 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$61.9K $17.40/SF
− Vacancy
−$4.6K −$1.31/SF
EGI
$57.2K $16.10/SF
− OpEx
−$17.2K −$4.83/SF
NOI
$40.1K $11.27/SF
Area
Waterbury, CT
Vacancy
7.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$801,280
Cap Rate 7%
$572,343
Cap Rate 9%
$445,156
Alternative Uses
Best Use
Multifamily LT 5
$572.3K
$500.8K – $667.7K
NOI $40,064 @ 7.0% cap · market cap 2.88%
Second Best
Apartment 5plus
$515.6K
$451.2K – $601.5K
NOI $36,092 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$943.7K
$825.7K – $1.10M
NOI $66,056 @ 7.0% cap · market cap 4.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 06716, CT
15,996
Population
6,337
Households
2.5
Avg Household Size
46
Median Age
36%
College-Educated
95%
High-School Grad
20.2 sq mi
ZIP Area
792
Density / Sq Mi
$114,529
Median Household Income
$56,463
Median Earnings
$1,650
Median Rent
$299,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences feature central air, a fireplace, and four bedrooms with four bathrooms.
Where is this duplex located?
The property is located at 94 Midwood Avenue Wolcott, CT.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: Lakefront duplex on 0.7 acres; 3,556 square feet with two separate residences; Four bedrooms and four bathrooms
