Lakefront Duplex With Separate
New
For Sale
$1,390,000
94 Midwood Avenue, Wolcott, CT 06716
Two distinct residential spaces offer flexible living arrangements on a lakefront property.
Property Size3,556 SF
Price / SF$390.89
Days on Market4
Property Features for 94 Midwood Avenue
General Information
Standard status
Active
Size
3,556 SF
Property subtype
2 Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1947
Listing Agency:
Showcase Realty, Inc.
(203) 509-9425
Listed By:
Michael Donato
(203) 509-9425
Source:
Lockandkeyre
Added: Aug 17
Changed: Aug 20
Last Checked: Aug 20 at 6:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Showcase Realty, Inc.
Investment Insights
Based on property information with market context.
This lakefront duplex includes two separate residences within a property built in 1947. One of the residences is currently being used as a game room, providing flexibility for the present owners while preserving the property’s two-residence configuration.
Located at 94 Midwood Avenue in Wolcott, Connecticut, the property offers a residential setting with direct lakefront context. The separate spaces may support a range of living arrangements, subject to applicable requirements.
Located at 94 Midwood Avenue in Wolcott, Connecticut, the property offers a residential setting with direct lakefront context. The separate spaces may support a range of living arrangements, subject to applicable requirements.
Key Highlights
- Lakefront property at 94 Midwood Avenue, Wolcott, CT 06716
- Two separate residences within the property
- Apartment currently used as a game room
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 distinct residential spaces offer flexible living arrangements on a lakefront property.
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 property at 94 Midwood Avenue, Wolcott, CT 06716; Two separate residences within the property; Apartment currently used as a game room
