[Assessed 84.3%] New-build house in Funabashi City, Chiba — 15 min from Misaki Sta.

The first thing we checked was whether this is a multiplier area. Within the same Onanminami in Funabashi, the 3-chome side is an urbanisation control area, and on 30 August 2026 we dropped a property in Onanminami 3-chome for exactly that reason. Multiplier areas carry no roadside land value, so no assessment can be calculated there. Onanminami 2-chome does carry roadside values on sheet 06055 and is not a multiplier area — the multiplier-area annotations lie further south, on the Onancho and Misaki 5-chome side. This is consistent with the listing's urbanisation promotion area and Category I Low-rise Exclusive Residential zoning.

Onanminami 2-chome spans four roadside value map sheets (06045, 06046, 06055 and 06056). We took our representative value from the residential streets on sheet 06055, which covers the main part including Onan Municipal Elementary School. Those streets read 70D, 71D, 73D (modal) and 74D, with 65D at the western edge. Rather than the modal 73D we took the conservative 71D (the street in front of block 37) and followed it across three years: 67D in 2024, 69D in 2025 and 71D in 2026. The band runs 65D to 75D, and on sensitivity 65D gives 82.21% and 75D gives 85.68%. Every band clears 80%, so the choice of representative value does not change the conclusion. The leasehold ratio symbol is D.

There is not a single site photograph. The listing carries two images — a floor plan and a site plan — with no exterior and no frontage road. The property is recorded as unfinished, so we think it likely that nothing has been photographed yet. Retaining walls and their retaining height, any step from the frontage road, stepped access and whether this is a party-wall row house are therefore all unjudged. Our practice is to publish where the assessed ratio clears 80% even without photographs, but every unjudged item is carried into the open points below.

What the site plan does show is worth recording. The frontage road is a public road to the north under Article 42(1)(1), 4.000 m wide, and the site is a regular rectangle with 12.815 m of frontage (10.916 m and 10.868 m deep; the southern edge sums to 6.282 + 4.461 + 1.392 + 0.675 = 12.81 m). The full width of the frontage meets the road, so this is not a flagpole plot and there is no access strip. The layout takes two or three parking spaces directly from the road, and no steps or ramps are drawn. Being an Article 42(1)(1) road exactly 4 m wide, no setback is required. For terrain we turned to national 5 m laser survey data. Measuring 60 m squares around blocks 1 and 5 of Onanminami 2-chome gives relief of 2.8 m and 1.4 m, with height differences of at most about 0.4 m per 10 m. No sharp change indicating a step or retaining wall of 1 m or more appeared. With no lot number published, however, this is not the ground of the site itself.

We made no deduction. There is no record of a private-road burden, and on the site plan the plot is a regular rectangle running to the road boundary with no private-road portion. Kenbiya defines its land area as already excluding private roads. The frontage road is an Article 42(1)(1) road 4.000 m wide, so no setback is required. This is not a flagpole plot, so there is no access strip to deduct, and nothing indicates a sloped portion.

Being new, the building carries its full assessed value of 23.86 million yen — the wooden replacement unit price of 220,000 yen/sqm times 108.47 sqm of floor area, with 22 remaining years over the 22-year statutory life. It accounts for about 71% of the assessment; on the land alone the ratio is 24.6%. The building certificate number is 25UDI1W-Ken-11501 (15 January 2026). The layout is 4LDK (a 21.7-mat LDK plus 8.0, 6.0, 5.2 and 5.2-mat Western rooms, 53.41 sqm on the ground floor and 55.06 sqm above), with a pantry, study counter, dishwasher, bathroom dryer and shoe-in closet noted. The site plan shows two or three parking spaces side by side. The Category I Low-rise Exclusive Residential zoning with 50% building coverage and 100% floor area ratio is restrictive and limits the scale of any future rebuild, though it does not affect the land assessment. The projected yield and full-occupancy income are not published and are available on enquiry.