Multifamily Property with Owner's
For Sale
$1,095,000
190-192 Kendrick Ave, Quincy, MA 02169
RESB-zoned property combines a spacious private residence with a separate first-floor apartment and substantial outdoor areas.
Property Size2,802 SF
Price / SF$390.79
Days on Market90
Property Features for 190-192 Kendrick Ave
General Information
Standard status
Active
Size
2,802 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Zoning
RESB
Net Operating Income
$87,600
Additional Details
Gross Income
$27,600
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,925
Building Details
Building Size
2,802 SF
Year Built
1920
Stories
3
Listing Agency:
Coldwell Banker Realty - Boston
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 3
Changed: Aug 30
Last Checked: Aug 30 at 1:36PM
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 Coldwell Banker Realty - Boston
Investment Insights
Based on property information with market context.
This 2,802-square-foot multifamily property, built in 1920, includes a private owner's residence across the second and third floors and a separate apartment on the first floor. The upper residence contains four bedrooms, two full bathrooms, a home office, living room, dining room, and eat-in kitchen. Two balconies, a patio, and gardens extend the usable living space outdoors.
The property also includes a one-car garage and tandem off-street parking for up to four vehicles. Located at 190-192 Kendrick Ave in Quincy, the home is less than 1/2 mile from the Quincy Adams Red Line station, providing rail access to Boston and surrounding areas. RESB zoning supports its multifamily classification.
The property also includes a one-car garage and tandem off-street parking for up to four vehicles. Located at 190-192 Kendrick Ave in Quincy, the home is less than 1/2 mile from the Quincy Adams Red Line station, providing rail access to Boston and surrounding areas. RESB zoning supports its multifamily classification.
Key Highlights
- 2,802 SF multifamily property built in 1920
- Owner's residence spans the second and third floors with 4 bedrooms and 2 full baths
- Separate first‑floor apartment
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
$43,459
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
3.97%
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%
$869,180
$869.2K
Cap Rate 7%
$620,843
$620.8K
Cap Rate 9%
$482,878
$482.9K
Market Conditions
NOI Build-Up for 2,802 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
$84.1K $30.00/SF
− Vacancy
−$5.0K −$1.80/SF
EGI
$79.0K $28.20/SF
− OpEx
−$35.6K −$12.69/SF
NOI
$43.5K $15.51/SF
Area
Quincy, MA
Vacancy
6.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$869,180
Cap Rate 7%
$620,843
Cap Rate 9%
$482,878
Alternative Uses
Best Use
Apartment 5plus
$620.8K
$543.2K – $724.3K
NOI $43,459 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,936 @ 7.0% cap · market cap 10.59%
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
897
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?
Multifamily property - RESB-zoned property combines a spacious private residence with a separate first-floor apartment and substantial outdoor areas.
Where is this multifamily property located?
The property is located at 190-192 Kendrick Ave Quincy, MA.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: 2,802 SF multifamily property built in 1920; Owner's residence spans the second and third floors with 4 bedrooms and 2 full baths; Separate first‑floor apartment
