Renovated Duplex Near Wollaston
For Sale
$1,149,000
Pending
201 Billings St, Quincy, MA 02171
Completely renovated duplex near the ocean and public transportation.
Property Size2,482 SF
Lot Size0.14 Acres
Days on Market266
Property Features for 201 Billings St
General Information
Standard status
Pending
Size
2,482 SF
Lot size
0.14 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$9,406
Building Details
Building Size
2,482 SF
Year Built
1930
Stories
3
Units
2
Listing Agency:
(617) 839-8962
Listed By:
Joseph McEachern
(617) 839-8962
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Aug 20 at 12:08PM
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 Joseph McEachern
Investment Insights
Based on property information with market context.
This is a completely renovated two-family home, updated in 2018, situated in the desirable Wollaston Beach area. The property is located one block from the ocean and is a 14-minute walk from the North Quincy Redline T Station, and a 5-minute drive to the Marina Bay and Hancock Street bar and restaurant areas. Both units feature hardwood floors, granite countertops, stainless steel appliances, central air conditioning, and in-unit washer and dryers. The top unit includes 2 bedrooms and 1 bathroom and offers approximately 900 square feet of living space. The bottom unit features 3 bedrooms and 2 full bathrooms with approximately 1600 square feet of living space. The first-floor unit also has exclusive access to a remodeled basement, providing an additional 600 square feet of space. This area could serve as an extra living room, children's playroom, office, or exercise space and includes a new Enviro wood pellet stove. The property is suitable for either owner-occupancy or as an investment.
Key Highlights
- Completely renovated in 2018.
- Located one block from Wollaston Beach.
- Two‑family home, suitable for owner‑occupancy or investment.
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
$41,911
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
3.65%
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%
$838,220
$838.2K
Cap Rate 7%
$598,729
$598.7K
Cap Rate 9%
$465,678
$465.7K
Market Conditions
NOI Build-Up for 2,482 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
$64.0K $25.80/SF
− Vacancy
−$4.2K −$1.68/SF
EGI
$59.9K $24.12/SF
− OpEx
−$18.0K −$7.24/SF
NOI
$41.9K $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%
$838,220
Cap Rate 7%
$598,729
Cap Rate 9%
$465,678
Alternative Uses
Best Use
Multifamily LT 5
$598.7K
$523.9K – $698.5K
NOI $41,911 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$549.9K
$481.2K – $641.6K
NOI $38,496 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,695 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
Explore this area
Business Placement
Demographics for 02171, MA
19,539
Population
9,513
Households
2.1
Avg Household Size
41
Median Age
52%
College-Educated
88%
High-School Grad
2.5 sq mi
ZIP Area
7,816
Density / Sq Mi
$104,992
Median Household Income
$58,835
Median Earnings
$2,281
Median Rent
$630,200
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 - Completely renovated duplex near the ocean and public transportation.
Where is this duplex located?
The property is located at 201 Billings St Quincy, MA.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: Completely renovated in 2018.; Located one block from Wollaston Beach.; Two‑family home, suitable for owner‑occupancy or investment.
