Well-Maintained Two-Family
For Sale
$1,189,000
40 Woodbine St, Quincy, MA 02170
Two units with eat-in kitchens, gas cooking, basement laundry, and generous parking with double-width paved drive.
Property Size2,262 SF
Days on Market27
Property Features for 40 Woodbine St
General Information
Standard status
Active
Size
2,262 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,260
Amenities
front porch
private deck
basement laundry
walk-out lower level
Building Details
Building Size
2,262 SF
Year Built
1925
Stories
2
Units
2
Listing Agency:
V & E Realty
(617) 290-8289
Listed By:
Derek Wong · License #455500324
(617) 290-8289
Source:
Elliman
Added: Jul 25
Changed: Aug 17
Last Checked: Aug 19 at 8:15AM
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 V & E Realty
Investment Insights
Based on property information with market context.
A beautifully maintained two-family duplex featuring a first-floor unit with 5 rooms, including 3 bedrooms and a spacious eat-in kitchen, and a second-floor unit with 6 rooms, including 4 bedrooms. Both units offer well-designed layouts with eat-in kitchens, granite countertops, ample cabinetry, and gas cooking. Additional features include ceramic tile floors, vinyl siding, and a walk-up attic that provides extra storage with potential for future expansion.
The home is located just steps to Wollaston T Station and is close to shopping, dining, schools, and everyday conveniences. Outdoor living includes a welcoming front porch and a private deck for the second-floor unit.
Additional improvements and practicality include a large basement with laundry and an easy walk-out lower level with direct access from the driveway. Parking is exceptional, with a huge double-width paved driveway accommodating up to six vehicles and an additional paved side driveway on the left for even more parking.
The home is located just steps to Wollaston T Station and is close to shopping, dining, schools, and everyday conveniences. Outdoor living includes a welcoming front porch and a private deck for the second-floor unit.
Additional improvements and practicality include a large basement with laundry and an easy walk-out lower level with direct access from the driveway. Parking is exceptional, with a huge double-width paved driveway accommodating up to six vehicles and an additional paved side driveway on the left for even more parking.
Key Highlights
- Two‑family home built in 1925 with two separate units featuring eat‑in kitchens and gas cooking
- First‑floor unit: 5 rooms with 3 bedrooms and a spacious eat‑in kitchen
- Second‑floor unit: 6 rooms with 4 bedrooms plus open‑concept kitchen, dining area, and living room
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
$38,196
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
3.21%
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%
$763,920
$763.9K
Cap Rate 7%
$545,657
$545.7K
Cap Rate 9%
$424,400
$424.4K
Market Conditions
NOI Build-Up for 2,262 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
$58.4K $25.80/SF
− Vacancy
−$3.8K −$1.68/SF
EGI
$54.6K $24.12/SF
− OpEx
−$16.4K −$7.24/SF
NOI
$38.2K $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%
$763,920
Cap Rate 7%
$545,657
Cap Rate 9%
$424,400
Alternative Uses
Best Use
Multifamily LT 5
$545.7K
$477.5K – $636.6K
NOI $38,196 @ 7.0% cap · market cap 3.21%
Second Best
Apartment 5plus
$501.2K
$438.6K – $584.7K
NOI $35,084 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,593 @ 7.0% cap · market cap 7.87%
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
1,151
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two units with eat-in kitchens, gas cooking, basement laundry, and generous parking with double-width paved drive.
Where is this duplex located?
The property is located at 40 Woodbine St Quincy, MA.
What is the asking price?
The asking price for this property is $1,189,000.
What are key features of this property?
This property features: Two‑family home built in 1925 with two separate units featuring eat‑in kitchens and gas cooking; First‑floor unit: 5 rooms with 3 bedrooms and a spacious eat‑in kitchen; Second‑floor unit: 6 rooms with 4 bedrooms plus open‑concept kitchen, dining area, and living room
