[Assessed 115.9%] Land in Funabashi, Chiba — 12 min from Kamagaya-Daibutsu Sta.

A plot of land within a 12-minute walk of both Kamagaya-Daibutsu and Futawa-Mukodai stations on the Keisei Matsudo Line. Two stations are within reach, and central Tokyo is roughly 65 minutes away with a transfer at Matsudo or Shin-Kamagaya. The area is Category 1 Exclusively Low-rise Residential with a 50% building coverage ratio and 100% floor area ratio, in a neighbourhood of detached houses.

⚠️ The listing states that there is a disclosure item (kokuchi jiko). Its content is not published and must be confirmed with the agent. The listing also states that the seller's liability for non-conformity is waived and that no boundary survey has been carried out, so a confirmed survey may fall to the buyer. The land unit price is about 46,000 yen per square metre, or roughly 153,000 yen per tsubo, against a range of 430,000 to 630,000 yen per tsubo for nearby plots in Sakigaoka 2 to 4 chome — about one third of the local level. Whether that gap is explained by the disclosure item alone needs checking on site and with the agent.

⚠️ The site is a flag-shaped lot. Measuring the plot plan in the listing, a corridor roughly 2.6 to 3.0 m wide and about 15.6 m long runs north from the designated-position road to a main section with a frontage of about 17.1 m. That corridor is about 40.4 sq m and cannot be used as building land under the 50% coverage limit, so our assessed value deducts it and uses an effective site area of 111.13 sq m. Using the listed 151.53 sq m would produce a larger figure, but we do not use it. The shared private-road interest of about 23.9 sq m is drawn as a separate figure from the site on the plot plan and is not included in the 151.53 sq m, so it is not deducted.

The site currently has an old house on it: a two-storey wooden building of 99.26 sq m built in May 1941. At 85 years old it is far beyond the 22-year statutory life for wooden construction, so the building is valued at zero here. Clearing the site would require demolition and removal costs on top of the price.

On the assessed value, the 2026 roadside land price of 73,000 yen per square metre applied to the effective 111.13 sq m gives a land figure of 8.11 million yen, or 115.9% of the 7 million yen asking price. The roadside price has risen from 67,000 yen in 2024 to 69,000 in 2025 and 73,000 in 2026, up 9.0% over three years. Even at 66,000 yen — the lowest band in the neighbourhood — the ratio is 104.8%, and under the harshest assumption of also deducting the 23.9 sq m private-road share it is 82.2%, so the choice of band does not change the conclusion.

The main open question is that the listing does not explain why the price is this low. This is a property to judge after confirming three things: the content of the disclosure item, the boundary situation, and the cost of demolishing the old house.