[Assessed 145.1%] Detached house in Funabashi, Chiba — 4 min from Kaijin Sta.

The listing's own comment says that vehicles cannot enter, and its selling points repeat this as a drawback. The photographs show the approach as a sloping path only 1.5 to 2 m wide, with steps from the gate to the entrance. In exchange for a 4-minute walk to the station, treat parking as effectively impossible.

A white-painted concrete retaining wall runs along the approach with the plot side higher. Whether it exceeds a metre decides the case, so we solved it with a level-camera model using the gate post as the reference. Assuming a 1.5 m post gives a self-consistent camera height of 1.58 m and a retaining height of 0.87 m; even taking the post at 1.6 m gives 0.94 m, under a metre.

Using the coordinates in the listing data, we matched the block numbers on the road price map against the Geospatial Information Authority's coordinates and placed the plot near blocks 3 to 5 of 6-chome Kaijin. Local roads here run 200,000 to 230,000 yen/sqm, but we took the conservative 205,000 to avoid being pulled up by arterials such as the Chiba Kaido at 310,000. Even the bottom of the band at 195,000 gives 138.0%.

The listing contradicts itself in one place. The automatic tags on athome include 'parking for two or more' and 'corner plot', which conflict with the text stating that vehicles cannot enter. Where a listing disagrees with itself we take the property summary and the body text as authoritative, so we have not carried the tags over.

Built in June 1976, the house is 50 years old and well past the 22-year statutory life for wood-frame construction, so the building is assessed at zero. The land alone comes to 145.1%, so this is effectively a land-value proposition.