Two-Unit Duplex with Detached
New
For Sale
$789,000
108 South Street, Quincy, MA 02169
Corner-lot duplex near downtown Quincy and local shopping, with separate living areas and additional storage space.
Property Size2,160 SF
Price / SF$365.28
Days on Market6
Property Features for 108 South Street
General Information
Standard status
Active
Size
2,160 SF
Total Parking Spaces
2
Property subtype
2 Family - 2 Units Up/Down
Additional Details
Multifamily Units
2
Building Details
Year Built
1880
Listing Agency:
William Raveis R.E. & Home Services
(781) 771-7963
Listed By:
Doreen A. Corsano
(781) 771-7963
Source:
Lockandkeyre
Added: Aug 6
Changed: Aug 11
Last Checked: Aug 11 at 4:44AM
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 William Raveis R.E. & Home Services
Investment Insights
Based on property information with market context.
Built in 1880, this 2,160-square-foot duplex contains two residential units with matching primary layouts. Each unit includes two bedrooms, a living room, dining room, kitchen, and bathroom. The upper residence also has three enclosed porches and access to a full unfinished attic, while the lower residence occupies the same core footprint without those features.
The property includes a full unfinished basement with designated space for each unit and a shared dryer. A detached two-car garage provides additional utility. Positioned at the corner of South Street and Berkeley Street, the home is near downtown Quincy and shopping destinations. The property is offered as-is, with buyers responsible for their own due diligence.
The property includes a full unfinished basement with designated space for each unit and a shared dryer. A detached two-car garage provides additional utility. Positioned at the corner of South Street and Berkeley Street, the home is near downtown Quincy and shopping destinations. The property is offered as-is, with buyers responsible for their own due diligence.
Key Highlights
- 2,160‑square‑foot duplex built in 1880
- Two residential units with matching two‑bedroom layouts
- Upper unit includes three enclosed porches and full unfinished attic access
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
$36,474
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
4.62%
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%
$729,480
$729.5K
Cap Rate 7%
$521,057
$521.1K
Cap Rate 9%
$405,267
$405.3K
Market Conditions
NOI Build-Up for 2,160 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
$55.7K $25.80/SF
− Vacancy
−$3.6K −$1.68/SF
EGI
$52.1K $24.12/SF
− OpEx
−$15.6K −$7.24/SF
NOI
$36.5K $16.89/SF
Area
Quincy, MA
Vacancy
6.50%
Lease Rate
$25.80 /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%
$729,480
Cap Rate 7%
$521,057
Cap Rate 9%
$405,267
Alternative Uses
Best Use
Multifamily LT 5
$521.1K
$455.9K – $607.9K
NOI $36,474 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$478.6K
$418.8K – $558.4K
NOI $33,502 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,372 @ 7.0% cap · market cap 11.33%
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
847
Businesses Nearby
Explore this area
Business Placement
Demographics for 02169, MA
62,140
Population
30,198
Households
2.1
Avg Household Size
39
Median Age
48%
College-Educated
92%
High-School Grad
12.1 sq mi
ZIP Area
5,136
Density / Sq Mi
$92,080
Median Household Income
$60,166
Median Earnings
$1,975
Median Rent
$552,200
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 - Corner-lot duplex near downtown Quincy and local shopping, with separate living areas and additional storage space.
Where is this duplex located?
The property is located at 108 South Street Quincy, MA.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: 2,160‑square‑foot duplex built in 1880; Two residential units with matching two‑bedroom layouts; Upper unit includes three enclosed porches and full unfinished attic access
