[Assessed 85.7%] Rental House in Machida, Tokyo — 11 min from Kakio Sta.

The building is timber, built in March 2023, three years old. Under our standard (replacement cost JPY 220,000 per sqm, 22-year life) nineteen years remain, so the building's assessed value is JPY 220,000 x 106.4 sqm x 19/22 = JPY 20.22 million. With the land at JPY 17.93 million the total is JPY 38.15 million. Since 53% of the assessed value sits in the building, expect the figure to decline with age.

The address is published only to the chome, so we took a representative from the band of street values within Nogaya 3-chome. The chome spans two road price map sheets, but its streets run in a narrow band from 125D to 135D (only the arterial Machida-kaido carries 150D), and we used the middle of the band, JPY 130,000 per sqm, tracing the same street across three years (120D, 120D, 130D).

We confirmed that the positional uncertainty does not change the conclusion: the bottom of the band, 125D, gives 84.2% and the top, 135D, gives 87.3%. No street in the chome takes this below 80%.

The listing has a single site photograph. The road and the plot sit at the same level, with two or three steps (0.3-0.4 m) up the entrance approach. No retaining wall or earth-retaining structure appears, and the house next door on the left stands on the same ground level. With only one photograph, however, we could see just part of the north and east frontages and the left neighbour — the remaining boundaries are unverified.

A level crossing on the Odakyu line appears at the right of the exterior photograph, so the tracks are very close. As the house is tenanted the interior cannot be inspected, and the listing gives no breakdown of the tenant's rent or contract terms. Whether the JPY 2.76 million full-occupancy income is the current rent or an estimate cannot be told from the listing.