[Assessed 129.8%] Detached House a 15-Minute Walk from Mizue Station, Edogawa, Tokyo

A detached house a 15-minute walk from Mizue Station on the Toei Shinjuku Line, in Edogawa 1-chome, Edogawa Ward. Attack Edogawa 1-chome is in the same block as the property, and Life and Summit are both by Mizue Station. Shinjuku is about 30 minutes away on a single Shinjuku Line ride.

The house was built in May 1964: a two-story wooden structure with a 3K layout and 46.26 sqm of floor area. The interior has been renovated and the property is tenanted, giving a projected gross yield of 10.78% at full occupancy (960,000 yen a year). The land is 43.6 sqm (13.18 tsubo) freehold.

The inheritance-tax roadside land price is 265,000 yen/sqm, putting the land's assessed value at about 11.55 million yen; the building's assessed value is zero as a 62-year-old wooden structure. Against the asking price of 8.9 million yen, the assessed-value ratio is 129.8% - the land alone exceeds the price. The roadside price has risen for three consecutive years from 240,000 yen in 2024 (+10.4% cumulative).

This is flat, low-lying eastern Tokyo, and the photos show no retaining walls, steps, or stair-only access. However, the listing's road frontage field is blank and the front road falls outside the photo frame, so the frontage conditions and whether rebuilding is permitted both need confirming. See the research notes below for details.