Renovated Duplex with Large
New
For Sale
$1,199,900
9 Vassall Street, Quincy, MA 02170
Two-level living arrangement with one vacant unit, basement laundry, hardwood floors, and access to public transportation and highways.
Property Size2,552 SF
Lot Size4.50 Acres
Price / SF$470.18
Days on Market5
Property Features for 9 Vassall Street
General Information
Standard status
Active
Size
2,552 SF
Net Rentable
68,400 SF
Class
Class B
Total Parking Spaces
126
Elevators
No
Lot size
4.50 Acres
Property subtype
Multi-family
Zoning
R-4
Occupancy
94%
Net Operating Income
$620,000
Financials
Asking Price
$10,780,000
Cap Rate
5.75%
Gross Income
$1,120,000
Gross Rent Multiplier
10.2
Average Monthly Rent
$1,090
Opportunity Zone
No
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
12 x studio, 48 x 1BR/1BA, 24 x 2BR/2BA
Multifamily Units
84
Parking per Unit
1.5
Additional Details
Furnished
No
Sprinkler System
Yes
Amenities
pool
fitness center
on-site laundry
Building Details
Year Built
1920
Year Renovated
2022
Buildings
3
Stories
2
Construction
garden-style
Tenancy
Multi
Listing Agency:
V & E Realty
Listed By:
Derek Wong
(603) 352-5533
Source:
Hgjohnsonrealestate
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 10 at 3:58AM
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.
Built in 1920, this duplex contains approximately 2,552 square feet across 3 levels, with 6 bedrooms and 2.5 bathrooms. The first-floor unit includes 2 bedrooms, 1 full bathroom, a mudroom, and side-entry access to the driveway. It is currently vacant. The upper unit occupies the second and third floors and includes 4 bedrooms, 1.5 bathrooms, an eat-in kitchen with stainless steel appliances, a dining room, living room, enclosed porch, and additional bedroom and bath space on the third floor.
Property improvements include a new front porch, a new exterior staircase serving the first-floor unit, hardwood flooring, recessed lighting, and basement laundry with a washer and dryer. The newly paved driveway provides 8 parking spaces, with additional tandem parking noted. Located at 9 Vassall Street in Quincy, the property is near public transportation, a T station, highway access, restaurants, schools, and supermarkets.
Property improvements include a new front porch, a new exterior staircase serving the first-floor unit, hardwood flooring, recessed lighting, and basement laundry with a washer and dryer. The newly paved driveway provides 8 parking spaces, with additional tandem parking noted. Located at 9 Vassall Street in Quincy, the property is near public transportation, a T station, highway access, restaurants, schools, and supermarkets.
Key Highlights
- Approximately 2,552 square feet across 3 levels
- Duplex with 6 bedrooms and 2.5 bathrooms
- First‑floor unit is vacant for owner occupancy or leasing flexibility
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
$43,093
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
3.59%
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%
$861,860
$861.9K
Cap Rate 7%
$615,614
$615.6K
Cap Rate 9%
$478,811
$478.8K
Market Conditions
NOI Build-Up for 2,552 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
$65.8K $25.80/SF
− Vacancy
−$4.3K −$1.68/SF
EGI
$61.6K $24.12/SF
− OpEx
−$18.5K −$7.24/SF
NOI
$43.1K $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%
$861,860
Cap Rate 7%
$615,614
Cap Rate 9%
$478,811
Alternative Uses
Best Use
Multifamily LT 5
$615.6K
$538.7K – $718.2K
NOI $43,093 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$565.5K
$494.8K – $659.7K
NOI $39,582 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,592 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
84
Residential units
94%
Occupancy
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,115
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?
Duplex - Two-level living arrangement with one vacant unit, basement laundry, hardwood floors, and access to public transportation and highways.
Where is this duplex located?
The property is located at 9 Vassall Street Quincy, MA.
What is the asking price?
The asking price for this property is $1,199,900.
What are key features of this property?
This property features: Approximately 2,552 square feet across 3 levels; Duplex with 6 bedrooms and 2.5 bathrooms; First‑floor unit is vacant for owner occupancy or leasing flexibility
