4 rental units.
2 duplexes.
One parcel.
406–408 W Nathan Street. Two duplex buildings, all four units occupied, with open rear land on the same tax parcel. Offered together.
*Occupancy and rents as reported by the owner; leases available to qualified buyers on request.
The numbers
Owner-reported current rents. Contact Jeremy for lease details and expense information.
| Building | Lower | Upper | Monthly |
|---|---|---|---|
| 406 W Nathan | $650 | $575 | $1,225 |
| 408 W Nathan | $500 | $600 | $1,100 |
| Total | $2,325 / mo $27,900 / yr |
Scheduled gross rent, not audited collections. The $500 tenant performs lawn care for the property. Current rents sit well below advertised Lancaster two-bedroom asking rents; verify condition and leases before underwriting any increase.
What Lancaster two-bedrooms are asking right now
| Listing | Size | Asking |
|---|---|---|
| 533 W Cherry St · 2 bd / 1 ba | 677 sq ft | $900 / mo |
| 344 W Cherry St #3 · 2 bd / 1 ba | 837 sq ft | $1,000 / mo |
| Arrow Ridge Apartments · 2 bd (newer complex) | — | from $1,250 / mo |
| 406–408 W Nathan, in-place average | 4 units | $581 / mo |
Advertised asking rents on Zillow and Homes.com as of Nov 9, 2026. These are asks, not signed leases or matched comparables; income-restricted listings excluded. Arrow Ridge is a newer complex and a different product tier. Unit sizes and bedroom counts at 406–408 should be verified against these before underwriting.
Why investors are looking
- Four doors, one closing. Both duplexes and the rear land convey together on parcel 246-01157-0000.
- Vinyl siding, newer architectural roofs, new decks. Both buildings are sided, the front porch deck and side landing are new pressure-treated lumber, and the shared gravel drive serves all four units.
- Rear land included. Additional ground behind the buildings is part of the parcel. Buyer to verify any future use with the City of Lancaster.
- Rent upside to test. Average in-place rent is about $580/unit. Current Lancaster two-bedroom asks run $900–$1,000 (table above).
- Individual panels and water heaters. Each unit has its own breaker panel and water heater; most units have their own laundry.
- Finishes that rent. 406 has laminate floors, newer countertops and a tiled walk-in shower; 408 has original hardwood in most rooms.
- Also available: the seller's third duplex at 234 N Washington St. Ask about a package.
Explore all four units in 3D
Walk through the front and rear buildings at your own pace. Use the tour menu to choose an upstairs or downstairs apartment.
Photos
All four units are tenant-occupied and photographed as lived in. A 3D walkthrough is available before any in-person showing.
406 W Nathan · Front building (closest to the street)
406 · Lower unit
In-unit laundry · tiled shower
406 · Upper unit
In-unit laundry · eat-in kitchen
406 · Mechanicals
Forced-air gas · 2 panels · 2 water heaters
408 W Nathan · Rear building
408 · Lower unit
In-unit laundry · hardwood
408 · Upper unit
Hardwood floors
408 · Mechanicals
Hot-water boiler · 2 panels · 2 meters · 2 water heaters
How showings work
- 3D walkthrough first. Out of courtesy to the tenants, buyers tour the units virtually before requesting an in-person visit.
- 24-hour tenant notice for all in-person showings.
- Qualified buyers receive leases, the rent ledger and expense history on request.
- Offers on the parcel as a whole. The two buildings are not separately conveyable.
Property facts
| Address | 406–408 W Nathan St, Lancaster, WI 53813 |
| Parcel | 246-01157-0000 (one parcel, two buildings) |
| Units | 4 (two up/down duplexes) |
| Rear land | Included; buyer to verify boundaries and use |
| Heat | 406: forced-air gas (Lennox). 408: hot-water boiler with baseboard. |
| Electric | Separate breaker panels per unit in both buildings; two meters visible on 408 |
| Water heaters | Two per building (one per unit) |
| Laundry | In-unit washer/dryer hookups in at least three of four units |
| Asking price | $250,000 |
| Listing | Fishnick Realty Advisors · LPT Realty |
Ready for the next step?
The rent roll and photos are above. Explore the 3D walkthrough, ask about leases and expenses, or request an in-person showing.
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Jeremy Fishnick
Fishnick Realty Advisors · LPT Realty · Lancaster, WI. Licensed Wisconsin real estate agent and home inspector, and an active investor in Grant County rentals. Straight answers on condition, rents and what the numbers will actually do.
608-732-2564