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Quincy MA Average Property NOI

Quincy’s real estate market is arguably one of the best for real estate investors at the moment.  Prices for Quincy real estate are on the upswing, but still at a reasonable level compared to other metro neighborhoods.  Rent prices for Quincy apartments outpaced most other markets in greater Boston over the past few years as demand grew. 

As a result, not many neighborhoods offer as much upside for investors as Quincy.  In this article, we’ll break down the average net operating income (NOI) for different property types in Quincy MA.  To do this, we’ll use the median sales price, current property tax rates, and average homeowner’s insurance to estimate yearly expenses.  We’ll use Quincy’s average rent price to estimate yearly  revenue.

Estimated NOI for Quincy Real Estate

The following table breaks down Quincy’s median sales prices for all property sizes and types in comparison to the city of Boston.  As you can see, median sale prices in Quincy are anywhere from 20-80% lower than those of Boston for all categories.

1 Year Median Sale PriceQuincyBoston% Difference
Single Family$620,571$784,113-26.35%
Condo$464,861$698,313-50.22%
Multi Family$810,601$1,024,397-26.37%
1 Bedroom$323,176$585,264-81.10%
2 Bedroom$484,865$717,650-48.01%
3 Bedroom$609,968$777,024-27.39%
4 Bedroom$717,194$866,537-20.82%
5 Bedroom$852,579$1,032,679-21.12%

When you apply a basic NOI calculation on Quincy’s median sale prices, you find that the estimated NOI is profitable for 3 out 5 size categories (one, two, and five bedrooms).  Multi family homes in Quincy see a healthy yearly NOI of $11,655.

QuincyAvg. Rent x 12Estimated Annual ExpensesNOI
Quincy SF$25,820-$30,948-$5,128
Quincy Condo$25,820-$27,143-$1,323
Quincy Multi Fam$51,640-$39,985$11,655
Quincy 1BR$21,816-$16,806$5,010
Quincy 2BR$26,676-$24,495$2,181
Quincy 3BR$28,968-$30,444-$1,476
Quincy 4BR$35,136-$35,543-$407
Quincy 5BR$14,340-$4,884$9,456

Quincy NOI in Comparison to Other Metro Neighborhoods

Given the trajectory of home prices in most of metro Boston over the past decade, Quincy stands out as one of the more attractive markets for single and multi family homes.  Most areas are running a loss for single family homes in metro Boston with the exception of 2 neighborhoods (Chelsea and Roxbury).  This is because of the incredibly short supply of single family homes in the metro area.  Quincy ranks as the 6th best market for single family NOI.

Best SF NOI by NeighborhoodAvg. Rent x 12Estimated Annual ExpensesNOI
Boston$30,688-$37,603-$6,915
Chelsea$26,088-$25,420$668
Roxbury$27,700-$28,555-$855
Revere$25,344-$26,854-$1,510
Mattapan$23,672-$27,375-$3,703
Hyde Park$24,164-$29,120-$4,956
Quincy$25,820-$30,948-$5,128
Malden$24,252-$29,943-$5,691
East Boston$27,656-$33,373-$5,717
Dorchester$26,320-$34,577-$8,257

For multi family properties, Quincy also ranks 6th best for potential profitability based on current median sales prices.  Most of the neighborhoods that rank highest in these property types are located in outer neighborhoods and suburbs.  Quincy ranks as the 5th best neighborhood for 2 bedroom NOI. 

So for real estate investors looking for single family homes in Boston, Quincy is one of the few neighborhoods that provide some good opportunities.  Multifamily seems like a good investment on average in Quincy as well.  Based on lower pricing in comparison to other neighborhoods, it appears that there is much more price ceiling in Quincy than in other areas, making it even more attractive for investors.  Look for prices in Quincy to continue to outpace the rest of metro Boston in the upcoming years, as prices have reached tipping points in places like Brookline, Cambridge, Newton, and Somerville. 

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