Step 1: Write the given complex number.
\[
z = \frac{\lambda + 4i}{1+\lambda i}
\]
Given that \( z \) is real and \( \lambda \in R \).
Step 2: Rationalize the denominator.
Multiply numerator and denominator by the conjugate of \( 1+\lambda i \), which is \( 1-\lambda i \):
\[
z = \frac{(\lambda + 4i)(1-\lambda i)}{(1+\lambda i)(1-\lambda i)}
\]
Step 3: Simplify the denominator.
\[
(1+\lambda i)(1-\lambda i) = 1 - \lambda^2 i^2
\]
Since \( i^2 = -1 \):
\[
= 1 + \lambda^2
\]
Step 4: Simplify the numerator.
\[
(\lambda + 4i)(1-\lambda i)
\]
\[
= \lambda - \lambda^2 i + 4i - 4\lambda i^2
\]
Since \( i^2 = -1 \):
\[
= \lambda - \lambda^2 i + 4i + 4\lambda
\]
\[
= 5\lambda + (4-\lambda^2)i
\]
Step 5: Write \( z \) in real and imaginary form.
\[
z = \frac{5\lambda + (4-\lambda^2)i}{1+\lambda^2}
\]
\[
z = \frac{5\lambda}{1+\lambda^2} + \frac{4-\lambda^2}{1+\lambda^2}i
\]
Step 6: Use the condition that \( z \) is real.
For \( z \) to be real, imaginary part must be zero.
\[
\frac{4-\lambda^2}{1+\lambda^2} = 0
\]
\[
4-\lambda^2 = 0
\]
\[
\lambda^2 = 4
\]
\[
\lambda = \pm 2
\]
Step 7: Match with the given options.
Among the given options, only \( -2 \) is a real possible value.
\[
\boxed{-2}
\]