Two-Family Duplex with
For Sale
$1,139,000
Pending
113 Elm Avenue, Quincy, MA 02170
Two residential units include a first-floor layout and a larger upper-level residence.
Property Size2,790 SF
Days on Market139
Property Features for 113 Elm Avenue
General Information
Standard status
Pending
Size
2,790 SF
Property subtype
Multi-family
Building Details
Year Built
1928
Listing Agency:
Keller Williams Realty
(781) 843-3200
Listed By:
Jing Zheng · License #9528954
Source:
Milburyre
Added: Apr 15
Changed: Aug 31
Last Checked: Aug 30 at 5:55PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 2,790-square-foot duplex, built in 1928, contains two residential units. One occupies the first floor, while the larger residence spans the second and third floors. The property also includes a detached two-car garage and a private yard. Interior updates and remodeling may be considered.
The home is in Wollaston, near the beach, shopping, dining, the Wollaston Red Line T stop, and bus routes 211 and 212. Its location provides access to a range of neighborhood amenities and public transportation options.
The home is in Wollaston, near the beach, shopping, dining, the Wollaston Red Line T stop, and bus routes 211 and 212. Its location provides access to a range of neighborhood amenities and public transportation options.
Key Highlights
- 2,790‑square‑foot two‑family duplex
- First‑floor unit plus larger residence across the second and third floors
- Detached two‑car garage
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
$47,112
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
4.14%
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%
$942,240
$942.2K
Cap Rate 7%
$673,029
$673.0K
Cap Rate 9%
$523,467
$523.5K
Market Conditions
NOI Build-Up for 2,790 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
$72.0K $25.80/SF
− Vacancy
−$4.7K −$1.68/SF
EGI
$67.3K $24.12/SF
− OpEx
−$20.2K −$7.24/SF
NOI
$47.1K $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%
$942,240
Cap Rate 7%
$673,029
Cap Rate 9%
$523,467
Alternative Uses
Best Use
Multifamily LT 5
$673.0K
$588.9K – $785.2K
NOI $47,112 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$618.2K
$540.9K – $721.2K
NOI $43,273 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,439 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
Explore this area
Business Placement
Demographics for 02170, MA
19,950
Population
8,471
Households
2.4
Avg Household Size
39
Median Age
46%
College-Educated
86%
High-School Grad
2.1 sq mi
ZIP Area
9,500
Density / Sq Mi
$101,840
Median Household Income
$54,561
Median Earnings
$1,801
Median Rent
$661,800
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 residential units include a first-floor layout and a larger upper-level residence.
Where is this duplex located?
The property is located at 113 Elm Avenue Quincy, MA.
What is the asking price?
The asking price for this property is $1,139,000.
What are key features of this property?
This property features: 2,790‑square‑foot two‑family duplex; First‑floor unit plus larger residence across the second and third floors; Detached two‑car garage
