Two-Family Duplex with
For Sale
$879,999
19 Penn Street, Quincy, MA 02169
Each residence includes hardwood floors, in-unit laundry, separate gas heating, and individual utility metering.
Property Size1,838 SF
Price / SF$478.78
Days on Market15
Property Features for 19 Penn Street
General Information
Standard status
Active
Size
1,838 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
above-ground pool
in-unit laundry
Building Details
Year Built
1880
Buildings
1
Listing Agency:
FC Realty Group
Listed By:
Colleen Foulsham
(508) 823-9400
Source:
Ballowhutchinsonrealestate
Added: Sep 13
Changed: Sep 26
Last Checked: Sep 26 at 9:28AM
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 FC Realty Group
Investment Insights
Based on property information with market context.
This two-family duplex contains two residences, each with two bedrooms, one full bathroom, hardwood flooring, and in-unit laundry. Separate gas heating systems and individual metering serve the units. The property also includes off-street parking, a backyard, and an above-ground pool.
Positioned on a dead-end street near Quincy Center, the property provides access to the expressway, Quincy Adams MBTA station, shopping, dining, and other area amenities. Its configuration supports both rental use and owner occupancy, with the ability to occupy one residence while renting the other.
Positioned on a dead-end street near Quincy Center, the property provides access to the expressway, Quincy Adams MBTA station, shopping, dining, and other area amenities. Its configuration supports both rental use and owner occupancy, with the ability to occupy one residence while renting the other.
Key Highlights
- Two residences, each with 2 bedrooms and 1 full bathroom
- Separate gas heating systems and individual utility metering
- Hardwood flooring and in‑unit laundry in both residences
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
$31,037
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
3.53%
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%
$620,740
$620.7K
Cap Rate 7%
$443,386
$443.4K
Cap Rate 9%
$344,856
$344.9K
Market Conditions
NOI Build-Up for 1,838 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
$47.4K $25.80/SF
− Vacancy
−$3.1K −$1.68/SF
EGI
$44.3K $24.12/SF
− OpEx
−$13.3K −$7.24/SF
NOI
$31.0K $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%
$620,740
Cap Rate 7%
$443,386
Cap Rate 9%
$344,856
Alternative Uses
Best Use
Multifamily LT 5
$443.4K
$388.0K – $517.3K
NOI $31,037 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$407.2K
$356.3K – $475.1K
NOI $28,507 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$1.09M
$950.6K – $1.27M
NOI $76,049 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,345
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes hardwood floors, in-unit laundry, separate gas heating, and individual utility metering.
Where is this duplex located?
The property is located at 19 Penn Street Quincy, MA.
What is the asking price?
The asking price for this property is $879,999.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 full bathroom; Separate gas heating systems and individual utility metering; Hardwood flooring and in‑unit laundry in both residences
