Renovated
For Sale
$1,150,000
67 Cleverly Ct, Quincy, MA 02169
Kitchens and baths were renovated in 2021, with deleaded certificates in place.
Property Size2,784 SF
Days on Market9
Property Features for 67 Cleverly Ct
General Information
Standard status
Active
Size
2,784 SF
Total Parking Spaces
3
Property subtype
Residential Income
Zoning
BUSB
Units
Unit Mix
2 x 3BR, 1 x 2BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,595
Building Details
Building Size
2,784 SF
Year Built
1910
Year Renovated
2021
Buildings
1
Stories
3
Units
3
Listing Agency:
William Raveis R.E. & Home Services
(617) 866-3314
Listed By:
Maria Terova
(617) 866-3314
Source:
Aucoinryanrealty
Added: Aug 1
Changed: Aug 2
Last Checked: Aug 8 at 1:06PM
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.
This 1910 triplex comprises two three-bedroom residences and one two-bedroom residence. Kitchens and bathrooms throughout the building were renovated in 2021, and deleaded certificates are in place. The property is scheduled for delivery vacant, providing a clear starting point for the next ownership strategy.
Located at 67 Cleverly Court in Quincy, the property is described as minutes from the Red Line and downtown Boston. Zoning is BUSB. The three-unit layout provides a defined multifamily configuration, with the larger residences complemented by a smaller two-bedroom unit.
Located at 67 Cleverly Court in Quincy, the property is described as minutes from the Red Line and downtown Boston. Zoning is BUSB. The three-unit layout provides a defined multifamily configuration, with the larger residences complemented by a smaller two-bedroom unit.
Key Highlights
- Three‑unit property with two 3‑bedroom units and one 2‑bedroom unit
- Kitchens and baths renovated in 2021
- Deleaded certificates in place
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
$47,011
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
4.09%
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%
$940,220
$940.2K
Cap Rate 7%
$671,586
$671.6K
Cap Rate 9%
$522,344
$522.3K
Market Conditions
NOI Build-Up for 2,784 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
$71.8K $25.80/SF
− Vacancy
−$4.7K −$1.68/SF
EGI
$67.2K $24.12/SF
− OpEx
−$20.1K −$7.24/SF
NOI
$47.0K $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%
$940,220
Cap Rate 7%
$671,586
Cap Rate 9%
$522,344
Alternative Uses
Best Use
Multifamily LT 5
$671.6K
$587.6K – $783.5K
NOI $47,011 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$616.9K
$539.8K – $719.7K
NOI $43,180 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,191 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
644
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?
Triplex - Kitchens and baths were renovated in 2021, with deleaded certificates in place.
Where is this triplex located?
The property is located at 67 Cleverly Ct 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: Three‑unit property with two 3‑bedroom units and one 2‑bedroom unit; Kitchens and baths renovated in 2021; Deleaded certificates in place
