[Assessed 169.7%] Detached house in Matsudo City, Chiba — 14 min from Kitakokubun Sta.

A 6.8 million yen resale detached house at 574-5 Ohashi, Matsudo City, Chiba, a 14-minute walk from Kitakokubun Station on the Hokuso Line. Land 88.77 sqm (registry), building 60.61 sqm, wooden two-storey, built September 1978 (48 years old). It is tenanted as an owner-change purchase, at 50,000 yen a month for a gross yield of 8.82%.

The assessed ratio is 169.7%. The inheritance-tax roadside land value for fiscal 2026 is 130,000 yen/sqm, which across 88.77 sqm gives 11.54 million yen — well above the 6.8 million yen asking price. At 48 years old the building carries no assessed value, so this figure comes from the land alone. The roadside value has risen 18.2% in two years: 110,000 yen in 2024, 120,000 in 2025 and 130,000 in 2026.

The first thing we checked was whether a roadside value exists at all. Ohashi in Matsudo spans four roadside value map sheets (09159, 09160, 09166 and 09167) and most of it is an urbanisation control area with multiplier rates. The urbanisation promotion area is only a strip running north-west to south-west, and the conclusion flips depending on which side of that strip the site sits.

To fix the position on the sheet we geocoded four parks annotated on 09166 (Hagimachi Park, Kitakokubun Second Park, Yukiyanagi Park and Ohashi Park) and matched them to their sheet positions by least squares (scale 0.985 m/pt, residuals within 7 m). As a check we overlaid the national zoning polygons through the same transform, and the polygon boundary matched both the outer edge of the area with roadside values and the position of the "multiplier area" annotation.

The lot-level coordinates then split. The map coordinates in the listing HTML fall inside the urbanisation promotion area, while the Geospatial Information Authority's address search for "Ohashi 574" falls on the multiplier-area side. The two are about 130 m apart and the boundary of the promotion area runs between them. The authority's lot point rounds 574, 575, 580 and 590 to a single point at the aza level, which is not precise enough for this call.

What settled it was the property tax in the listing. Working back from the 45,366 yen annual figure, assuming the small-scale residential land relief (one sixth) and the floor of the depreciation coefficient for a 48-year-old wooden building (0.20), the assessed land value for property tax comes to about 9.3 million yen, or roughly 105,000 yen/sqm. Converted to a roadside value that is 110,000 to 120,000 yen/sqm, matching this road's 2024 figure of 110,000 and 2025 figure of 120,000 (property tax valuations run on a 2024 base year). Assume a multiplier area instead and the land valuation would need to be about 160,000 yen/sqm, which exceeds the roadside value of the adjoining promotion area and cannot hold. Squaring it through the building instead would require a 2.5 million yen valuation on a 48-year-old, 60.61 sqm wooden house, which also cannot hold. We concluded the site is on the promotion-area side, where roadside values are assigned.

On sensitivity: the lowest residential street in Ohashi's promotion area, 115,000 yen/sqm, still gives 150.1%, and calculating on the 80.47 sqm read from the registry map gives 153.8%. Both are far above 80%, so an error cannot reverse the conclusion. The leasehold ratio symbol is D at 60%.

We confirmed the shape of the plot on the registry map. Lot 574-5 is a near-regular rectangle of about 12.2 m by 12.7 m with no flagpole access strip. The adjoining lots 574-7 to 574-10 (about 11 sqm each) and 574-12 (1.4 sqm) are separate parcels, so we made no deduction. However, the area read from the registry map is 80.47 sqm — about 9% smaller than the 88.77 sqm in the listing.

We examined all six photographs in the listing, but the only exterior shot is a night-time picture of the entrance area; there is nothing of the frontage road, the boundaries or the rear. Within what is visible, the entrance porch has a stepping stone and two treads; measured against a 2.0 m door height, each tread is about 15 cm, roughly 0.3 m in total. The ground in front of the porch is flat concrete and no retaining wall appears in frame. The neighbouring buildings are close on both sides.

The step from the frontage road and whether there is a retaining wall on the south-west boundary could not be judged from the photographs. We measured the surroundings with national elevation data on a 10 m pitch across a 7 by 7 grid: the estimated site position is flat at 11.0 to 11.3 m, but from 15 to 25 m to the south-west the ground rises sharply to 20.5 to 22.3 m. That is a height difference of about 10 m, and aerial imagery shows a wooded slope — the face of a valley head — running as a band in the same direction. The site itself is flat, but neither the presence of a retaining wall on the south-west nor the applicability of the Chiba cliff ordinance can be confirmed or ruled out from the photographs.

The terms of sale also need attention. The transaction is listed as a direct sale by the seller, but the remarks state that this is a "sannichi" back-to-back arrangement, that a consulting contract with the listing company is required, and that the deal may not come together. A consulting contract with the seller covering the leaseback is required in order to buy. The property is tenanted as an owner-change purchase; the tenant wants an ordinary two-year lease, the rent is 50,000 yen a month, and the property tax is 45,366 yen a year.

The listing records no zoning, building coverage, floor area ratio, frontage, city planning area, private-road burden, floor plan, parking or building certificate number, and says nothing about whether the site can be rebuilt on.