[Assessed 103.3%] Detached house, 10 min from Kita-Matsudo Station, Matsudo, Chiba

There is not a single photo of the property in the listing. This is not a retrieval failure: the listing itself has no gallery (every image on the page belongs to "similar properties", the agent's other listings, or banners). We searched the other three portals and found no alternative listing of the same property, so we could not fill the gap. That leaves five things unjudged: whether there is a retaining wall and how high it retains, whether there is a step up from the frontage road, whether access is by steps, whether this is a flagpole plot (and so whether a pole area needs deducting), and whether it shares party walls as a row house. At 60.28 sqm of land, 54.20 sqm of floor area and built in 1972, that last point is particularly worth checking.

In place of photos we looked at the terrain. The lot number is not fixed so the site itself cannot be measured, but measuring Kamihongo with national elevation data revealed a scarp of about 22 m running through the district. Kita-Matsudo Station sits at 3.8 m above sea level, Kamihongo block 1 at 4.0 m and block 2900 at 6.0 m on the low ground towards the industrial park, while block 4000 reaches 28.7 m and Senshu University Matsudo School at block 3621 sits at 27.8 m on the plateau. The base maps of roadside value sheets 09070, 09083 and 09084 also carry numerous cliff symbols across Kamihongo. This is terrain where retaining walls and road steps readily occur.

The address stops at "Kamihongo, Matsudo" with no chome and no lot number. Kamihongo spans nine roadside value map sheets, so we could not fix it to a single street by calibrating against lot annotations. Instead we used the "10-minute walk from Kita-Matsudo" constraint to reduce the candidates to four sheets (09069, 09070, 09083 and 09084) and read all of them to establish the upper and lower bounds of the bands across Kamihongo. The bands we measured: sheet 09070 south-east reads a mode of 120D with a low of 98D (a single narrow lane) and 115D; sheet 09084 north-east reads 110D, 120D, 140D and 145D, rising to 155D-175D through the centre and south; sheet 09083 east reads 140D-175D. The Kamihongo on sheet 09069 is the Kita-Matsudo industrial park at 205D-235D, but that is a small/large factory district and does not apply to this Category I Low-Rise Exclusive Residential site. We took the most conservative figure, the 120D (120,000 yen/sqm) on sheet 09070.

We checked the sensitivity. The mode of 120D gives 103.3%; even the lowest value we measured, 98D on a single narrow lane, gives 84.4%; the lower bound near the station at 110D gives 94.7%; 140D gives 120.6%; and the upper bound of 175D gives 150.7%. Every residential band in Kamihongo clears 80%. The roadside value needed to reach 80% is 92,900 yen/sqm, which is below every residential roadside value we measured in Kamihongo, so the uncertainty in location does not change the conclusion. The three-year series follows the same street on the same sheet: 105,000 yen in 2024, 110,000 in 2025 and 120,000 in 2026. The leasehold ratio symbol is D (60%).

We took the registered 60.28 sqm as the effective land area in full. The private road burden field is blank and there is no mention of a sloped portion. However, whether this is a flagpole plot cannot be judged with no photo and no site plan, so we have not deducted any pole area. Since this is a judgement call, here is the sensitivity: if there were a pole for two cars in line (3 m by 10 m, 30 sqm), usable land would be 30.28 sqm and the land assessment 3.63 million yen, bringing the ratio down to 51.9%. That single point would reverse the conclusion.

The frontage field is blank, with no direction, width or classification given for the road. Whether the site can be rebuilt on cannot be confirmed from the listing. The land is held in freehold, in an urbanisation promotion area zoned Category I Low-Rise Exclusive Residential with 50% building coverage and 100% floor area ratio, land category residential. Nothing in the listing text mentions non-rebuildable status, a proviso road, a cliff ordinance, a retaining wall, a height difference, row-house construction or building conditions. The property is partly vacant, has parking, and the transaction type is general brokerage. The 15.40% gross yield is the listed figure; the projected annual income was not disclosed.