Duplex with Lower-Level
New
For Sale
$550,000
22-24 Prout, Quincy, MA 02169
Two residential units include a multi-level three-bedroom home and a studio apartment on the lower level.
Property Size1,980 SF
Days on Market4
Property Features for 22-24 Prout
General Information
Standard status
Active
Size
1,980 SF
Property subtype
2 Family - 2 Units Up/Down
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,586
Building Details
Building Size
1,980 SF
Year Built
1880
Buildings
1
Listing Agency:
Cindy Mark Real Estate
Listed By:
Irene Mark
(508) 958-6207
Source:
Nerealtyco
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 9:59AM
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 Cindy Mark Real Estate
Investment Insights
Based on property information with market context.
This 1,980-square-foot duplex, built in 1880, has a two-level main residence and a studio apartment in the basement. The main unit includes three bedrooms and a full bathroom upstairs, with a kitchen, living room, and dining room on the first floor. Hardwood floors run through the living and dining areas, and the kitchen opens to a front porch.
The basement studio has a kitchen area with a small stove and sink, plus a bathroom with a shower stall. It is all-electric and has a separate meter; the property also has a new boiler. The property is offered as-is.
The basement studio has a kitchen area with a small stove and sink, plus a bathroom with a shower stall. It is all-electric and has a separate meter; the property also has a new boiler. The property is offered as-is.
Key Highlights
- 1,980 square feet; built in 1880
- Two‑level main residence with 3 bedrooms and a full bathroom
- Basement studio apartment with kitchen area and shower bathroom
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
$33,434
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
6.08%
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%
$668,680
$668.7K
Cap Rate 7%
$477,629
$477.6K
Cap Rate 9%
$371,489
$371.5K
Market Conditions
NOI Build-Up for 1,980 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
$51.1K $25.80/SF
− Vacancy
−$3.3K −$1.68/SF
EGI
$47.8K $24.12/SF
− OpEx
−$14.3K −$7.24/SF
NOI
$33.4K $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%
$668,680
Cap Rate 7%
$477,629
Cap Rate 9%
$371,489
Alternative Uses
Best Use
Multifamily LT 5
$477.6K
$417.9K – $557.2K
NOI $33,434 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$438.7K
$383.9K – $511.8K
NOI $30,710 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$1.17M
$1.02M – $1.37M
NOI $81,924 @ 7.0% cap · market cap 14.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,066
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 residential units include a multi-level three-bedroom home and a studio apartment on the lower level.
Where is this duplex located?
The property is located at 22-24 Prout Quincy, MA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 1,980 square feet; built in 1880; Two‑level main residence with 3 bedrooms and a full bathroom; Basement studio apartment with kitchen area and shower bathroom
