Two-Family Property with Private
New
For Sale
$2,139,900
245-251 Newport Avenue, Quincy, MA 02170
A second-floor residence is vacant and includes a private deck and walk-up attic.
Property Size5,173 SF
Price / SF$413.67
Days on Market3
Property Features for 245-251 Newport Avenue
General Information
Standard status
Active
Size
5,173 SF
Total Parking Spaces
9
Property subtype
Multi-family
Additional Details
Public Transit
Yes
Multifamily Units
6
Building Details
Year Built
1898
Buildings
2
Listing Agency:
Central Real Estate
Listed By:
Jian Zhi Tan · License #455500689
(617) 480-3696
Source:
Demakis
Added: Oct 28
Changed: Oct 30
Last Checked: Oct 30 at 1:51PM
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 Central Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The offering includes a two-family building and a four-family building. In the two-family property, each residence has one bedroom and an eat-in kitchen; the first-floor unit also has a finished basement, while the second-floor unit includes a private deck and walk-up attic. The second-floor residence is currently vacant.
The four-family building has basement, first-, second-, and third-floor apartments. The basement unit has one bedroom and a kitchen. The first-floor apartment includes an eat-in kitchen and sunroom, while the second-floor apartment has two bedrooms, an eat-in kitchen, and a sunroom. The third-floor unit has an eat-in kitchen and is described as having one to two bedrooms.
Two driveways provide a total of nine off-street parking spaces. The properties are near the Wollaston T station.
The four-family building has basement, first-, second-, and third-floor apartments. The basement unit has one bedroom and a kitchen. The first-floor apartment includes an eat-in kitchen and sunroom, while the second-floor apartment has two bedrooms, an eat-in kitchen, and a sunroom. The third-floor unit has an eat-in kitchen and is described as having one to two bedrooms.
Two driveways provide a total of nine off-street parking spaces. The properties are near the Wollaston T station.
Key Highlights
- Two‑family and four‑family buildings included
- Nine off‑street parking spaces across two driveways
- Second‑floor unit in the two‑family building is vacant and has a private deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,352
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,747,040
$1.7M
Cap Rate 7%
$1,247,886
$1.2M
Cap Rate 9%
$970,578
$970.6K
Market Conditions
NOI Build-Up for 5,173 SF
Gross rent
$133.5K $25.80/SF
− Vacancy
−$8.7K −$1.68/SF
EGI
$124.8K $24.12/SF
− OpEx
−$37.4K −$7.24/SF
NOI
$87.4K $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 Rate 5%
$1,747,040
Cap Rate 7%
$1,247,886
Cap Rate 9%
$970,578
Alternative Uses
Best Use
Multifamily LT 5
$1.25M
$1.09M – $1.46M
NOI $87,352 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$1.15M
$1.00M – $1.34M
NOI $80,233 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$3.06M
$2.68M – $3.57M
NOI $214,038 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
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
Frequently Asked Questions
What type of property is this?
Duplex - A second-floor residence is vacant and includes a private deck and walk-up attic.
Where is this duplex located?
The property is located at 245-251 Newport Avenue Quincy, MA.
What is the asking price?
The asking price for this property is $2,139,900.
What are key features of this property?
This property features: Two‑family and four‑family buildings included; Nine off‑street parking spaces across two driveways; Second‑floor unit in the two‑family building is vacant and has a private deck
