4 Elm Street, Lancaster, NH, 03584
About This Home
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.
Getting Around
Somewhat Walkable
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1910
Materials
- Foundation: Fieldstone
- Roof: Flat,Membrane
- Construction materials: Wood Frame
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Basement
- Has basement: Yes
- Basement: Bulkhead,Concrete Floor,Dirt Floor,Full,No Tenant Access,Exterior Stairs,Interior Stairs,Unfinished,Exterior Entry,Basement Stairs,Walk-Up Access
Bedrooms & Bathrooms
- Full bathrooms: 18
Features
- Flooring: Hardwood,Vinyl Plank
- Finished area below ground: 0
- Finished area above ground: 11,178
Heating & Cooling
- Heating features: Oil,Baseboard
- Cooling features: None
Interior Area
- Total structure area: 14,904
- Total interior livable area: 11,178 sqft
Property
Details
- Zoning description: C-COMM
Features
- Levels: 3
Lot
- Lot size: 0.28 Acres
- Features: City Lot,Level,Major Road Frontage,Neighbor Business,Sidewalks,In Town,Near Shopping,Near Hospital
Parking
- Parking features: Gravel,Assigned,On Site,Parking Spaces 11 - 20,Unpaved
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Cold Wave
- Inland Flooding
- Winter Weather
- Avalanche
- Hurricane
- Ice Storm
- Lightning
- Strong Wind
How This Home’s Risks Compare
FEMA Declared Disasters Across New Hampshire Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $6,573 | $78,876 |
| Home Insurance | $659 | $7,908 |
| Property Taxes | $1,776 | $21,312 |
| Electricity | $1,637 | $19,644 |
| Total | $10,645 | $127,740 |
Income You'd Need if You Spent...
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-03-30 | Listed for sale | $1,400,000 |
| 2024-01-25 | Sold | $940,000 |
| 2023-11-08 | Contingent | $950,000 |
| 2023-10-31 | Listed for sale | $950,000 |
| 2023-06-12 | Listing removed | -- |
| 2023-05-07 | Listed for sale | $999,999 |
| 2023-04-15 | Contingent | $999,999 |
| 2023-03-31 | Listed for sale | $999,999 |
| 2022-04-29 | Sold | $474,000 |
| 2022-02-04 | Contingent | $558,000 |
| 2021-12-29 | Price change | $558,000 |
| 2021-11-12 | Listed for sale | $588,000 |
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