Residential Income Duplex with
For Sale
$1,080,000
209-213 Centre Street, Quincy, MA 02169
Two-family setup plus a two-story garage structure with partially finished residential space on a small residential lot.
Property Size2,800 SF
Lot Size0.11 Acres
Price / SF$385.71
Days on Market55
Property Features for 209-213 Centre Street
General Information
Standard status
Active
Size
2,800 SF
Lot size
0.11 Acres
Property subtype
Multi-family
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1925
Listing Agency:
Dream Realty
Listed By:
Lin Xu
(774) 280-2745
Source:
Broadboutique
Added: Jul 13
Changed: Sep 4
Last Checked: Sep 5 at 9:10AM
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 Dream Realty
Investment Insights
Based on property information with market context.
This offering consists of three buildings on one residential 0.11-acre lot, currently arranged as a legal two-family property. The main house includes 7 rooms with 3 bedrooms and 2 full bathrooms, hardwood floors throughout, high ceilings, granite countertops, and a finished basement. Building 2 is a separate income-producing rental unit with 3 rooms and 1 bedroom.
Building 3 is a two-story structure that includes a 361 sq. ft. garage on the first level and an additional 371 sq. ft. of residentially zoned, partially finished space above. That upper space is presented as flexible and could be completed as a studio, home office, workshop, or other permitted use, subject to local regulations.
The property is located within walking distance of the Quincy Adams MBTA Red Line Station, with convenient access to shopping, dining, and major highways.
Building 3 is a two-story structure that includes a 361 sq. ft. garage on the first level and an additional 371 sq. ft. of residentially zoned, partially finished space above. That upper space is presented as flexible and could be completed as a studio, home office, workshop, or other permitted use, subject to local regulations.
The property is located within walking distance of the Quincy Adams MBTA Red Line Station, with convenient access to shopping, dining, and major highways.
Key Highlights
- Year Built 1925 two‑family home on a 0.11‑acre lot with three separate buildings on one parcel
- Main house has 7 rooms with 3 bedrooms and 2 full bathrooms, plus hardwood floors and high ceilings
- Main house includes granite countertops and a finished basement
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
$47,281
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
4.38%
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%
$945,620
$945.6K
Cap Rate 7%
$675,443
$675.4K
Cap Rate 9%
$525,344
$525.3K
Market Conditions
NOI Build-Up for 2,800 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
$72.2K $25.80/SF
− Vacancy
−$4.7K −$1.68/SF
EGI
$67.5K $24.12/SF
− OpEx
−$20.3K −$7.24/SF
NOI
$47.3K $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%
$945,620
Cap Rate 7%
$675,443
Cap Rate 9%
$525,344
Alternative Uses
Best Use
Multifamily LT 5
$675.4K
$591.0K – $788.0K
NOI $47,281 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$620.4K
$542.9K – $723.8K
NOI $43,428 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,853 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,437
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?
Duplex - Two-family setup plus a two-story garage structure with partially finished residential space on a small residential lot.
Where is this duplex located?
The property is located at 209-213 Centre Street Quincy, MA.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: Year Built 1925 two‑family home on a 0.11‑acre lot with three separate buildings on one parcel; Main house has 7 rooms with 3 bedrooms and 2 full bathrooms, plus hardwood floors and high ceilings; Main house includes granite countertops and a finished basement
