4 Elm Street, Lancaster, NH
Residential Income
Listed by Rune Stone Realty · Nicole J Canavan
Property Description
Positioned in the heart of downtown Lancaster at the highly visible corner of Route 3 and Route 135, this 18-unit multifamily property offers investors an opportunity to acquire a stable, income-producing asset with a 7.06% cap rate. The property boasts a strong rental history with many long-term tenants, providing consistent cash flow and operational stability. Over the past several years, there have been significant capital improvements, enhancing both the functionality and long-term value of the asset. Recent upgrades include: *New rubber membrane roof *New oil tanks *Structural reinforcements *Interior apartment refreshes In addition, the fire and sprinkler system successfully passed its 5-year inspection, with ownership proactively completing all recommended (non-mandatory) improvements—demonstrating a high level of care and diligence. Looking ahead, a new boiler is scheduled for installation in May 2026, further improving efficiency and reducing future capital expenditure risk. Strategically located near major employers such as Weeks Medical Center, PAK Solutions, and Trividia Manufacturing, the property benefits from strong local demand and tenant retention. Its central location places residents within walking distance to downtown amenities, services, and major commuter routes. Investment Highlights: * 18 residential units * 7.06% cap rate * Proven rental performance with long-term tenants * Low Vacancy * Extensive recent capital improvements * Additional upside with new boiler installation (May 2026) * Prime downtown corner location * Close proximity to major employers This is an ideal opportunity for investors seeking a turnkey multifamily asset. Group Showing April 16th at 2pm. Please email to be added to the list. Do not show without contacting us.
Property Details
Essentials & finishes
- SqFt:11,178
- Price / SqFt:$116.30
- Property Type:Residential Income
- Year Built:1910
- County:NH-Coos
- Town:Lancaster, NH
- Status:Active
- Days on Market:96
Primary Features
Interior Features
Financial Details
Additional
External Features
Property History
Annual taxes for this property
| Year | Assessed Tax |
|---|---|
| 2024 | $22,100 |
| 2023 | $21,548 |
| 2022 | $20,995 |
Estimated from list price; verify with the town assessor.
Market Data
Live snapshot computed from active listings in this town
- Active listings in Lancaster47
- Average list price$279,717
- Price range$69,900 – $905,000
- Market sentimentBuyer's Market
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- Principal & Interest$6,574
- Property Tax$1,842
- Home Insurance$271
Estimates use typical New Hampshire costs — a 1.7% effective property-tax rate, insurance at 0.25% of home value/yr, and PMI below 20% down. Actual town tax rates vary; verify with your lender and the town assessor.
Tom DeMatteo
Owl’s Nest Real Estate · Questions?
Market Sentiment
Buyer's MarketBased on 47 active · 0 sold in Lancaster (last 90 days)
NOTE: This representation is based in whole or in part on data generated by PrimeMLS, Inc., which assumes no responsibility for its accuracy. The data relating to real estate displayed on this site comes in part from the IDX Program of PrimeMLS.
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