[Assessed 133.6%] Apartment building in Hino, Tokyo — 12 min from Naganuma Sta.

The first thing we checked was whether a roadside price is set here at all. The listing gives the zoning as "not designated" with 50% building coverage and 100% floor area ratio — the same values as an urbanisation control area in Tokyo. Such areas are often multiplier areas where no roadside price is set, in which case our assessment formula cannot be used. It is a roadside-price area. The National Tax Agency's index for Hino assigns roadside price map pages to all of Nishi-hirayama 1 through 5 chome, placing it outside the scope of the index note that "towns not listed here have no roadside price area; please refer to the valuation multiplier table". The "not designated" zoning is more likely an unfilled field than a real absence of designation, since the road-frontage, fire-prevention and land-use-law fields are equally blank.

The roadside price maps for Nishi-hirayama span three sheets: 61067, 61075 and 61076. **Most of Nishi-hirayama 1, 3 and 4 chome falls within the Nishi-hirayama Land Readjustment Project area (individual assessment), where no individual roadside price is published.** Because the address is only given to "Nishi-hirayama" and the chome cannot be identified, we worked from the band in Nishi-hirayama 2-chome (sheet 61075), where roadside prices are published. That band runs 125D to 135D for 2026. The modal value is 135D, but we adopted the lower end, 125D (the western edge near Kyohoku Park), as the conservative representative. Tracking the same road on the same sheet across three years gives 115,000 yen in 2024, 115,000 yen in 2025 and 125,000 yen in 2026 (all three years on sheet 61075, with the road layout identical).

We checked the sensitivity. At the modal 135,000 yen/sqm the ratio is 141.97%; at the 2024/2025 lower bound of 115,000 yen/sqm it is 125.16%; and even on the extreme assumption of 68,000 yen/sqm — the lowest band across the Asa River in Hirayama 6-chome — it is 85.65%. The break-even for 80% is 61,281 yen/sqm, far below every band around Nishi-hirayama. The uncertainty about which chome the property sits in does not change the conclusion here. The leasehold ratio symbol is D.

**The land assessment alone, at 202.81 million yen, exceeds the asking price of 193 million yen.** Two things could explain that: the actual roadside price inside the individual-assessment area may be lower than the surrounding band, or the fact that this site does not apply the size-differential adjustment for large residential plots. That adjustment applies to plots of 500 sqm or more in the three major metropolitan areas. Applying it for reference gives a factor of ((1,622.48 x 0.90 + 75) / 1,622.48) x 0.8 = 0.757, rounded to 0.75, a land assessment of 152,075,000 yen and a ratio of 107.3%. That still clears 80%, but **our figure runs high because the adjustment is not applied.** No deduction was made from the area. Kenbiya's rules mean the land area shown excludes private roads, and no separate private road burden is noted. However, no plot plan is included and there are no photographs, so the presence of an alley strip, setback line or slope face could not be confirmed.

**The listing has no photographs of the property at all.** This is not a retrieval failure: we confirmed that no property image URL exists anywhere in the HTML (the 24 img tags are all site furniture, with no noimage or placeholder markup either). We also tried to fill the gap from other sites but could not complete it — the search budget was exhausted and Rakumachi's municipality search did not return the property. So the presence of a retaining wall, a step down from the frontage road, stepped access and party-wall construction are all undetermined. Instead we measured the terrain. Using the Geospatial Information Authority's 1 m laser survey data over 60 m squares at 15 m intervals from the centres of Nishi-hirayama 1 and 2 chome gave 85.7-86.9 m (a relief of 1.2 m) and 87.8-89.1 m (1.3 m) respectively. Differences between adjacent 15 m cells are generally under 0.5 m — the flat river terrace along the Asa River. But with no lot number confirmed this is not a measurement of the property itself, and it is not a substitute for photographs.

**The road-frontage field is entirely blank.** The width, orientation, setback requirement and private road burden of the frontage road are all unknown. The fire-prevention and land-use-law fields read "----" as well. It is a three-storey reinforced concrete building of 37 units, all studios, with the unit floor area listed as "unknown". Against 1,622.48 sqm of land with 50% building coverage and 100% floor area ratio, the actual coverage is about 14.6% and floor area consumption about 43.9% — the building is small relative to the land, so the land carries most of the weight in the price. The land is freehold. There was no mention of a no-rebuild restriction, leasehold, cliff ordinance or building conditions. The building is named "Naganuma Ittou Mansion" and does not carry the Livli brand. The remarks field carries only the agent's own service promotions, with nothing specific to the property. It is currently tenanted, the transaction type is brokerage, and the listing was published on 1 September 2026.