Quadplex with Updated
New
For Sale
$1,330,000
245-247 Newport Ave, Quincy, MA 02170
Four rental units include a mix of two-bedroom apartments and a basement one-bedroom unit.
Property Size3,305 SF
Price / SF$402.42
Days on Market2
Property Features for 245-247 Newport Ave
General Information
Standard status
Active
Size
3,305 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Zoning
BUSB
Net Operating Income
$96,000
Units
Unit Mix
3 x 2BR, 1 x 1BR
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,902
Building Details
Building Size
3,305 SF
Year Built
1900
Stories
4
Listing Agency:
Ellis Realty Advisors
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Sep 26
Last Checked: Sep 26 at 3:36PM
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 Ellis Realty Advisors
Investment Insights
Based on property information with market context.
This 3,305-square-foot quadplex at 245-247 Newport Ave contains four legal rental units: three two-bedroom apartments and a one-bedroom basement unit. Built in 1900, the property has BUSB zoning and parking. System improvements include a new electrical system in 2024 and conversion to electric heat during 2024–2025; flooring has also been updated.
Wollaston T Station is a two-minute walk away. The property is in Quincy, near shopping, restaurants, and major highways.
Wollaston T Station is a two-minute walk away. The property is in Quincy, near shopping, restaurants, and major highways.
Key Highlights
- Four legal rental units: three two‑bedroom apartments and one basement one‑bedroom unit
- 3,305 square feet; built in 1900
- New electrical system installed in 2024
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
$55,809
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
4.20%
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%
$1,116,180
$1.1M
Cap Rate 7%
$797,271
$797.3K
Cap Rate 9%
$620,100
$620.1K
Market Conditions
NOI Build-Up for 3,305 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
$85.3K $25.80/SF
− Vacancy
−$5.5K −$1.68/SF
EGI
$79.7K $24.12/SF
− OpEx
−$23.9K −$7.24/SF
NOI
$55.8K $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%
$1,116,180
Cap Rate 7%
$797,271
Cap Rate 9%
$620,100
Alternative Uses
Best Use
Multifamily LT 5
$797.3K
$697.6K – $930.2K
NOI $55,809 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$732.3K
$640.8K – $854.4K
NOI $51,261 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$1.95M
$1.71M – $2.28M
NOI $136,748 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,318
Businesses Nearby
Explore this area
Business Placement
Demographics for 02170, MA
19,950
Population
8,471
Households
2.4
Avg Household Size
39
Median Age
46%
College-Educated
86%
High-School Grad
2.1 sq mi
ZIP Area
9,500
Density / Sq Mi
$101,840
Median Household Income
$54,561
Median Earnings
$1,801
Median Rent
$661,800
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?
Quadplex - Four rental units include a mix of two-bedroom apartments and a basement one-bedroom unit.
Where is this quadplex located?
The property is located at 245-247 Newport Ave Quincy, MA.
What is the asking price?
The asking price for this property is $1,330,000.
What are key features of this property?
This property features: Four legal rental units: three two‑bedroom apartments and one basement one‑bedroom unit; 3,305 square feet; built in 1900; New electrical system installed in 2024
