Duplex with Full
For Sale
$1,150,000
11 Conrad St, Quincy, MA 02169
Vacant two-family property with off-street parking, backyard space, and access to Quincy’s transit, highways, shops, and dining.
Property Size1,924 SF
Price / SF$597.71
Days on Market77
Property Features for 11 Conrad St
General Information
Standard status
Active
Size
1,924 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
RESA
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,226
Building Details
Building Size
1,924 SF
Year Built
1890
Stories
3
Listing Agency:
Real Broker MA, LLC
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 15
Changed: Aug 29
Last Checked: Aug 30 at 1:12PM
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 Real Broker MA, LLC
Investment Insights
Based on property information with market context.
This 1924-square-foot duplex at 11 Conrad St in Quincy, Massachusetts, was built in 1890 and is currently vacant. The property contains 5 bedrooms and 2.5 bathrooms, along with a full basement, off-street parking, and a backyard. Zoning is RESA, and the two-family layout provides flexibility for separate household occupancy or an owner-occupied arrangement.
The home is located in the Penn’s Hill neighborhood, directly across from the Abigail Adams Cairn, a stone monument dating to 1896. Quincy Adams Station, highways, shops, and dining are all described as just minutes away, connecting the property’s historic setting with nearby transportation and everyday conveniences.
The home is located in the Penn’s Hill neighborhood, directly across from the Abigail Adams Cairn, a stone monument dating to 1896. Quincy Adams Station, highways, shops, and dining are all described as just minutes away, connecting the property’s historic setting with nearby transportation and everyday conveniences.
Key Highlights
- 1924 square feet with 5 bedrooms and 2.5 bathrooms
- Two‑family layout with full basement
- Vacant at delivery for immediate occupancy planning
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
$32,489
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
2.83%
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%
$649,780
$649.8K
Cap Rate 7%
$464,129
$464.1K
Cap Rate 9%
$360,989
$361.0K
Market Conditions
NOI Build-Up for 1,924 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
$49.6K $25.80/SF
− Vacancy
−$3.2K −$1.68/SF
EGI
$46.4K $24.12/SF
− OpEx
−$13.9K −$7.24/SF
NOI
$32.5K $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%
$649,780
Cap Rate 7%
$464,129
Cap Rate 9%
$360,989
Alternative Uses
Best Use
Multifamily LT 5
$464.1K
$406.1K – $541.5K
NOI $32,489 @ 7.0% cap · market cap 2.83%
Second Best
Apartment 5plus
$426.3K
$373.0K – $497.4K
NOI $29,841 @ 7.0% cap · market cap 2.59%
Theoretical Best
Office A
$1.14M
$995.1K – $1.33M
NOI $79,607 @ 7.0% cap · market cap 6.92%
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
506
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 - Vacant two-family property with off-street parking, backyard space, and access to Quincy’s transit, highways, shops, and dining.
Where is this duplex located?
The property is located at 11 Conrad St Quincy, MA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 1924 square feet with 5 bedrooms and 2.5 bathrooms; Two‑family layout with full basement; Vacant at delivery for immediate occupancy planning
