Quincy Center Redevelopment
For Sale
$795,000
Pending
44 Elm St, Quincy, MA 02169
Two-family residence on a large lot near Quincy Center MBTA.
Property Size2,120 SF
Lot Size0.21 Acres
Days on Market119
Property Features for 44 Elm St
General Information
Standard status
Pending
Size
2,120 SF
Lot size
0.21 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$9,632
Building Details
Building Size
2,120 SF
Year Built
1932
Stories
3
Units
2
Listing Agency:
(617) 548-4384
Listed By:
Sean Keating
(617) 548-4384
Source:
Elliman
Added: Apr 24
Changed: Aug 7
Last Checked: Jul 23 at 3:26AM
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 Sean Keating
Investment Insights
Based on property information with market context.
This two-family residence presents a redevelopment opportunity in the heart of Quincy Center. Situated on a 9,000+ sq. ft. lot, the property includes 2,000+ sq. ft. of living space and is offered "as-is." A 1,000+ sq. ft. detached building at the rear, currently gutted, offers additional potential. The location is near the Quincy Center MBTA, local dining, and the downtown corridor. The property is suitable for a high-yield renovation, condo conversion, or a dual-income asset. The location has a transit score of 70, indicating excellent transit options, a walk score of 51, indicating it is somewhat walkable, and a bike score of 46, indicating it is somewhat bikeable.
Key Highlights
- Prime location in the heart of Quincy Center, near MBTA, dining, and downtown.
- Significant re‑development opportunity on a large 9,000+ sq. ft. lot.
- 2,000+ sq. ft. two‑family residence offered 'as‑is' for renovation or condo conversion.
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
$33,772
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
4.25%
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%
$675,440
$675.4K
Cap Rate 7%
$482,457
$482.5K
Cap Rate 9%
$375,244
$375.2K
Market Conditions
NOI Build-Up for 2,000 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
$51.6K $25.80/SF
− Vacancy
−$3.4K −$1.68/SF
EGI
$48.2K $24.12/SF
− OpEx
−$14.5K −$7.24/SF
NOI
$33.8K $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%
$675,440
Cap Rate 7%
$482,457
Cap Rate 9%
$375,244
Alternative Uses
Best Use
Multifamily LT 5
$482.5K
$422.2K – $562.9K
NOI $33,772 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$443.1K
$387.8K – $517.0K
NOI $31,020 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,752 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,514
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 residence on a large lot near Quincy Center MBTA.
Where is this duplex located?
The property is located at 44 Elm St Quincy, MA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Prime location in the heart of Quincy Center, near MBTA, dining, and downtown.; Significant re‑development opportunity on a large 9,000+ sq. ft. lot.; 2,000+ sq. ft. two‑family residence offered 'as‑is' for renovation or condo conversion.
