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[Assessed 94.9%] Two houses, 19 min from Shin-Tokorozawa Station, Tokorozawa, Saitama
Assessed 94.9%Detached houseTokorozawa, SaitamaShin-Tokorozawa Sta. 19 min walk

[Assessed 94.9%] Two houses, 19 min from Shin-Tokorozawa Station, Tokorozawa, Saitama

Published: Aug 29, 2026Updated: Aug 29, 2026

Property Overview

LocationTokorozawa, Saitama
Nearest StationSeibu Shinjuku Line Shin-Tokorozawa Sta.
Walk19 min walk
Assessed Ratio94.9%Assessed 94.9%
Price¥29,900,000
TypeDetached house
StructureWooden
BuiltBuilt Mar 1981 (45 years old)
Land Area270.33㎡
Building Area172.97㎡

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.

Rakumachi¥29,900,000View listing

Assessed Value Breakdown

Land assessed value¥28,384,650
Building assessed value¥0
Total assessed value¥28,384,650
Asking price¥29,900,000
Assessed ratio94.9%

Calculation basis

  • Land = road price ¥105,000/m² × land area 270.33m²
  • Building = replacement cost ¥220,000/m² × floor area 172.97m² × remaining life 0y ÷ statutory life 22y
  • Built Mar 1981 (45 years old)

Official Road Price Trend (last 3 years)

Cumulative change 2024 → 2026: +6.1%
YearRoad price (JPY/m²)YoY
202499,000
202599,000±0.0%
2026105,000+6.1%

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

How We Checked This Property

The listing carries the seller's own assessment calculation, stated as "about 104% of the asking price". We started by checking that figure against the roadside value map, then measured it again ourselves. Since only the district centroid was published as coordinates, pinning down the location took a few steps too.

Locating the road price

The coordinates in the listing are the centroid of the district, and using them puts the site 1,537 m in a straight line from Shin-Tokorozawa Station — physically inconsistent with the stated 19-minute walk. We therefore solved for the position from three facility distances given in the listing (elementary school 450 m, junior high 600 m, station 19 minutes). Two candidates emerge, but one is 1,211 m from the station in a straight line (1,520 m by road conversion, matching the 19 minutes) while the other is 1,450 m and does not fit. Cross-checking against real shops on OpenStreetMap, the first is 259 m from the Lawson-Three F Tokorozawa Koyocho store (the listing says about 300 m, 4 minutes) and 910 m in a straight line from York Foods, or about 1.1 km by road (the listing says about 1.1 km, 15 minutes); the second is 1,264 m from York Foods, about 1.5 km by road, which does not fit. The site is at the south-eastern edge of Iwaoka-cho along the Tokorozawa-Iruma bypass, with an error of about ±80 m.

Locating the road price

The roadside value map has no text layer, so we read it as an image. Calibrating against the school symbols for Nishitomi Elementary on sheet 34010 and Koyo Junior High on sheet 34022 gives 0.4885 m per pixel (130 dpi, scale 1:2500) against real distances of 218.3 m east-west and 696.4 m north-south; the predicted x of 1,014.9 px matched the measured 1,013 px to within 2 px (about 1 m). Reading and calibration were both completed within sheet 34010, with no extrapolation across sheet boundaries. The residential streets within 200 m of the site are 105D (east of the bypass), 110D (immediately north) and 115D (west of the bypass). The bypass itself at 140D and 155D is an arterial and is not used as the representative value. The site sits almost exactly on the boundary between the 105D block and the 115D block, and at ±80 m of error it could fall either way, so we took 105D (105,000 yen/sqm) — both the mode and the conservative reading.

View source
Locating the road price

We verified the seller's calculation printed in the listing: "land assessed value about 31.09 million yen, about 104% of the asking price". That is 31.09 million over 270.33 sqm, or about 115,000 yen/sqm, which corresponds to the 115D shown on the map. The seller's arithmetic is consistent with the roadside value map and is not inflated. However, because the property might belong to the 105D block, we followed our policy of taking the figure that produces the lower assessment and used 105,000 yen/sqm, giving 94.9%. On sensitivity: 115D gives 104.0%, 110D gives 99.5%, and applying the 99D of fiscal 2024 and 2025 to fiscal 2026 still gives 89.5%. The roadside value needed to reach 80% is 88,484 yen/sqm, and no street in Iwaoka-cho falls below that. The three-year series follows the same street on sheet 34010: 99,000 yen in 2024, 99,000 in 2025 and 105,000 in 2026 (the western street rises similarly, 105D to 110D to 115D). The leasehold ratio symbol is D (60%) on every relevant street.

Effective land area

We took the registered 270.33 sqm as the effective land area in full. We read the detail page directly and confirmed the private road burden field is empty. There is no mention of a flagpole plot or sloped portion, and the photos show both houses fronting the road directly with no access strip. However, the frontage is listed as a 5.00 m private road to the south-west, and whether it is a designated-position road cannot be determined from the listing, which includes no site plan. Since this is a judgement call, here is the sensitivity: if half the 5 m private road were a burden (2.5 m by a 20 m frontage, 50 sqm), usable land would be 220.33 sqm and the assessed ratio 77.4%; a 30 sqm burden gives 84.4% and 20 sqm gives 87.9%. Only an unrecorded burden on the scale of 50 sqm would reverse the conclusion.

On-site check from photos

We downloaded and inspected all ten photos (two exteriors, two floor plans, six interiors). No site plan or survey drawing is included. On the frontage (south-west, 5 m private road), both houses sit at much the same level as the road surface. In the photo of house B, the gate post, gate and parking space run on from the asphalt without a step, rising only a few centimetres at the kerb. House A likewise has its concrete parking apron flush with the road. There is no step at the boundary, no stepped access, no slope face and no cut face. We checked all three neighbouring boundaries. The north-west of house A is one to two courses of block (about 0.2 to 0.4 m) with a cast fence, and the neighbouring ground is at much the same level. The north-east of house A is a block wall; counting the horizontal joints gives four courses, about 0.8 m, cross-checked at 0.8 to 1.0 m against the neighbour's first-floor window sill (about 0.9 m above ground). The south-east of house B is a decorative block wall with an aluminium fence: the joints give about 0.8 m, while the gate post's letter slot (about 1.1 m above ground) puts the total height at about 1.3 m. Enlarging the gap in the fence tenfold, however, showed the brick joints of the neighbouring apartment continuing below the top of the wall, meaning the neighbouring ground is not at the level of the wall top. We judged it a boundary wall doubling as a screen, not a retaining wall.

On-site check from photos

We corroborated the terrain with national elevation data. Measuring a 200 m square around the site on a 5 by 5 grid gave 77.1 to 79.6 m on a uniform gradient of about 1.2%, with no terrace scarp and no artificial cut or fill anywhere. The natural fall across the 15 to 20 m width of the plot is about 0.2 m, so a retaining wall of 1 m or more would not be consistent with the landform either.

View source

What We Could Not Confirm

  • Frontage is a 5.00 m private road to the south-west, with the private road burden field left blank and no way to tell from the listing whether it is a designated-position road. No site plan is included. An unrecorded burden on the scale of 50 sqm would bring the assessed ratio down to 77.4%, so the road share and its classification need confirming in the important matters explanation.
  • The boundary wall on the south-east of house B reads as either 0.8 m or 1.3 m depending on which reference object is used. We confirmed the neighbouring ground is not at the level of the wall top, but it is close enough to the 1 m line that a site visit is advisable.
  • The two houses are sold together, but the listing gives only one build date, March 1981, with no per-building breakdown. The exteriors look the same age and specification. Being wooden and past the statutory useful life, the buildings are assessed at zero either way, but repair histories should be confirmed building by building.
  • The location was established by cross-checking the facility distances in the listing against real shops on OpenStreetMap, with an error of about ±80 m. The boundary between the 105D and 115D blocks falls within that margin, so the individual roadside value would be settled once the lot number is known.
  • Both units are tenanted and fully occupied, which means the interiors cannot be inspected. The 8.67% gross yield reflects current rents, but restoration and fixture costs at turnover are hard to estimate.

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

Lawson-Three F Tokorozawa Koyocho
17 min walk from the station

The nearest convenience store, about 260 m from the property; about 990 m from Shin-Tokorozawa Station.

Source
Lawson-Three F Tokorozawa Koyocho Nishi
20 min walk from the station

About 320 m from the property — a second branch in the same district.

Source
York Foods Shin-Tokorozawa
9 min walk from the station

Supermarket about 540 m from Shin-Tokorozawa Station; about 910 m from the property, or roughly 1.1 km by road.

Source

Neighborhood ② Dining Near the Station

Sharin
7 min walk from the station

Tsukemen and ramen shop about 380 m from Shin-Tokorozawa Station.

Source
Washoku Restaurant Tengu Shin-Tokorozawa
7 min walk from the station

Japanese restaurant about 370 m from Shin-Tokorozawa Station.

Source
Tokusei Ramen Hasegawa
11 min walk from the station

About 620 m from Shin-Tokorozawa Station and about 970 m from the property.

Source

About This Property

Two detached houses sold together for 29.9 million yen in Iwaoka-cho, Tokorozawa, a 19-minute walk from Shin-Tokorozawa Station on the Seibu Shinjuku Line. Land 270.33 sqm, total floor area 172.97 sqm, wooden two-storey, 5DK in each unit (80.00 sqm and 92.97 sqm). Both are tenanted and fully occupied, with a rent guarantee company in place and three parking spaces. The gross yield is 8.67%. The seller is the owner, so there is no agency commission.

The assessed ratio is 94.9%. The inheritance-tax roadside land value for fiscal 2026 is 105,000 yen/sqm (roadside value map 34010), which across 270.33 sqm gives 28.38 million yen. The buildings are 23 years past the 22-year statutory useful life for wooden structures, so their assessed value is zero and this figure comes from the land alone.

The listing includes the seller's own calculation: "land assessed value about 31.09 million yen, about 104% of the asking price". That works out at 115,000 yen/sqm, and checking it against the roadside value map confirms it corresponds to the 115D band shown there — it is not inflated. However, the property sits right on the boundary between the 105D block and the 115D block, and we could not determine which it belongs to. Where figures conflict our policy is to take the one that produces the lower assessment, so we used 105,000 yen/sqm and arrived at 94.9%. The gap between the seller's 104% and our 94.9% comes entirely from which block is taken.

Pinning down the location took some work. The coordinates in the listing are the centroid of the district, and using them puts the site 1,537 m in a straight line from Shin-Tokorozawa Station — physically inconsistent with a 19-minute walk. We solved for the position from three facility distances in the listing (elementary school 450 m, junior high 600 m, station 19 minutes), narrowing it to two candidates, then cross-checked against real shops on OpenStreetMap. One candidate is 259 m from the Lawson-Three F Tokorozawa Koyocho store (the listing says about 300 m, 4 minutes) and 910 m in a straight line from York Foods, or about 1.1 km by road (the listing says about 1.1 km, 15 minutes). The site is at the south-eastern edge of Iwaoka-cho along the Tokorozawa-Iruma bypass.

On sensitivity: taking the neighbouring 115D gives 104.0%, 110D gives 99.5%, and even applying the 99D of fiscal 2024 and 2025 gives 89.5%. The roadside value needed to reach 80% is 88,484 yen/sqm, and no street in Iwaoka-cho falls below that.

We inspected all ten photos. Both houses sit at much the same level as the frontage road, with gate posts and parking spaces running on from the asphalt without a step. There is no stepped access, no slope face, and this is not a flagpole plot. We checked all three neighbouring boundaries: one to two courses of block (0.2 to 0.4 m) on the north-west of house A, four courses (0.8 to 1.0 m) on its north-east, and a decorative block wall on the south-east of house B. National elevation data across a 200 m square gives 77.1 to 79.6 m on a uniform 1.2% gradient, with no terrace scarp or artificial cut and fill.

One caution: frontage is a 5.00 m private road to the south-west, and the private road burden field is blank. Whether it is a designated-position road cannot be determined from the listing, and no site plan is included.

Estimated Financing

Assessed value ¥28,384,650 → estimated loan ¥28,380,000 (95% 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 detached housesGood 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 detached housesGood 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 detached houses
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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