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[Assessed 122.7%] Apartment Building a 17-Minute Walk from Mutsumi Station, Matsudo, Chiba
Assessed 122.7%Apartment buildingMatsudo, ChibaMutsumi Sta. 17 min walk

[Assessed 122.7%] Apartment Building a 17-Minute Walk from Mutsumi Station, Matsudo, Chiba

Published: Aug 10, 2026Updated: Sep 19, 2026

Property Overview

LocationMatsudo, Chiba
Nearest StationTobu Noda Line Mutsumi Sta.
Walk17 min walk
Assessed Ratio122.7%Assessed 122.7%
Price¥14,050,000
TypeApartment building
Expected Yield9.5%
StructureLight steel frame
BuiltBuilt May 1976 (50 years old)
Land Area191.57㎡
Building Area49.76㎡

Where This Property Is Listed

This property appears on the sites below. Listings matching on location, land area and building area are merged into a single article as the same property.

Kenbiya¥14,050,000View listing

Assessed Value Breakdown

Land assessed value¥17,241,300
Building assessed value¥0
Total assessed value¥17,241,300
Asking price¥14,050,000
Assessed ratio122.7%

Calculation basis

  • Land = road price ¥90,000/m² × land area 191.57m²
  • Building = replacement cost ¥220,000/m² × floor area 49.76m² × remaining life 0y ÷ statutory life 22y
  • Built May 1976 (50 years old)

Official Road Price Trend (last 3 years)

Cumulative change 2024 → 2026: +20.0%
YearRoad price (JPY/m²)YoY
202475,000—
202582,000+9.3%
202690,000+9.8%

※ Based on inheritance-tax road prices published each July — a reference for the trend in land collateral value.

How We Checked This Property

Rather than reproducing the listing as-is, we cross-checked two portal listings of the same property and took the conservative figure wherever they disagreed.

Locating the road price

The listed coordinates agree with official block coordinates to about 10 m, fixing the site at Rokkodai 4-chome 38. Block streets on the sheet run ¥90,000–92,000/m², and we took the conservative ¥90,000/m². Even the district's lowest ¥87,000/m² gives a 118.6% ratio.

View source
Listing check

The property is listed on two portals at the same price, merged here into one article. Floor area differs between them (49.76 m² vs 99.52 m²), so we took the smaller; walk time differs (15 vs 17 minutes), so we took the longer. At 50 years old the building assesses at zero, so the floor-area gap does not affect the valuation.

On-site check from photos

As one listing carried no photos, we examined three site photos from the other — exterior, front walkway and external stair. The site is paved with concrete slabs and essentially flat, with no step at the approach. Elevation data also shows flat land-readjustment terrain at about 29 m on the plateau.

Effective land area

No private-road burden is stated, and the listed 191.57 m² is defined as excluding private roads, so it is used in full. There is no trace of a flagpole shape.

What We Could Not Confirm

  • Neither listing states the frontage road width, whether a setback is required, or whether rebuilding is permitted.
  • A block wall of about 0.6–0.8 m stands at the rear, but weeds hide the neighbouring ground level, so any height difference could not be established.

※ Rather than reproducing the listing as-is, we verified the figures against public sources such as the official road price maps and the listing photos. This is not based on a site visit, so please confirm on site and with the seller before deciding.

Neighborhood ① Shopping Near the Station

Hello Mart Mutsumi
7 min walk from the station

4-204 Rokkodai, Matsudo. A food supermarket in the same Rokkodai 4-chome block as the property. Open 9:30-21:00.

Source
Gyomu Super Matsudo Rokkodai
10 min walk from the station

4-134-1 Rokkodai, Matsudo. About 725m from Mutsumi Station, in the same Rokkodai 4-chome block. Open 9:00-21:00.

Source
York Mart York Foods Rokkodai
21 min walk from the station

7-98-1 Rokkodai, Matsudo. A general supermarket open until 22:00.

Source

Neighborhood ② Dining Near the Station

さくらcafe
2 min walk from the station

About 135 m from the centre of the district. A cafe. Location confirmed on OpenStreetMap.

Source
ホキホキ
2 min walk from the station

About 154 m from the centre of the district. A restaurant. Location confirmed on OpenStreetMap.

Source

About This Property

An apartment building a 17-minute walk from Mutsumi Station on the Tobu Noda Line, in Rokkodai 4-chome, Matsudo City. Hello Mart Mutsumi and Gyomu Super Matsudo Rokkodai are both in the same 4-chome block, so daily shopping is within walking distance. Transferring to the Joban Line at Kashiwa puts Ueno about 50 minutes away.

The building, "Mutsumi-so," was built in May 1976: a two-story light-gauge steel structure with four 2K units. It is currently tenanted, with a projected gross yield of 9.50% at full occupancy (about 1.334 million yen in annual income). The land is 191.57 sqm (about 57.9 tsubo) freehold, zoned Category I low-rise residential with a 60% building coverage ratio and a 150% floor-area ratio.

The inheritance-tax roadside land price is 90,000 yen/sqm, putting the land's assessed value at about 17.2 million yen; the building's assessed value is zero as a 50-year-old light-gauge steel structure. Against the asking price of 14.05 million yen, the assessed-value ratio is 122.7% - the land alone exceeds the price. The roadside price has risen for three consecutive years from 75,000 yen in 2024 (+20.0% cumulative).

This is a land-value play: roughly 58 tsubo of land against a price of 14.05 million yen. Note that while the listing states the site fronts a public road on the southeast side, neither of the two listings gives the road width or confirms whether rebuilding is permitted. See the research notes below for details.

Estimated Financing

Assessed value ¥17,241,300 → estimated loan ¥14,050,000 (100% of the asking price)

※ Actual loan availability, amounts and terms are subject to each bank's screening.

Suggested Lenders

静岡銀行
Regional bankLand-value focusedStrong with apartment buildingsGood with older buildings
本業年収700万円以上が検討対象。 相続税路線価から算出した「土地の積算」が60%以上出ていれば、基本的にフルローンとなる。 修正後バランスシートも重視しており、属性枠だけで終了する訳ではない為、可能な限り「土地」が高積算の物件を買い進めていきたい。
L&Fアセットファイナンス
Non-bank lenderLand-value focusedStrong with apartment buildingsGood with older buildings
土地値が出る築古系が得意。 属性はほぼ問わない。 どんなに担保評価が付いたとしても8割融資が目安。 建物の価値に対してはほぼ担保評価を付けてくれない為、新築や築浅の物件は要注意。 但し、建売の売れ残りや変形地等の場合は、土地が広くて担保評価が伸びたり、賃料が高くて収益還元評価が伸びたりして、思わずハマるケースがある。 また、産休中でも行けた、貴重な存在の金融機関である。
関西みらい銀行
Regional bankAssessed-value focusedStrong with apartment buildings
土地から新築OK。 築古過ぎず、好立地で積算割合が高く、キャッシュフローが回る物件であれば、検討対象となる。 産休中はNG。 築古過ぎる場合は、信用金庫・信用組合のセゾンファンデックス保証付の不動産担保ローンが適す。

※ General tendencies of lenders covering this area, for information only. This does not guarantee or suggest any specific financing outcome.

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