[Assessed 82.5%] Apartment building in Niiza, Saitama — 17 min from Yanasegawa Sta.
Property Overview
| Location | Niiza, Saitama |
| Nearest Station | Tobu Tojo Line Yanasegawa Sta. |
| Walk | 17 min walk |
| Assessed Ratio | 82.5%Assessed 82.5% |
| Price | ¥59,900,000 |
| Type | Apartment building |
| Expected Yield | 7.79% |
| Structure | Wooden |
| Built | Built Oct 1975 (50 years old) |
| Land Area | 290.58㎡ |
| Building Area | 248.42㎡ |
Where This Property Is Listed
This property appears on the sites below. Listings matching on location, land area and building area are merged into a single article as the same property.
| athome | ¥59,900,000View listing |
Assessed Value Breakdown
| Land assessed value | ¥49,398,600 |
| Building assessed value | ¥0 |
| Total assessed value | ¥49,398,600 |
| Asking price | ¥59,900,000 |
| Assessed ratio | 82.5% |
Calculation basis
- Land = road price ¥170,000/m² × land area 290.58m²
- Building = replacement cost ¥220,000/m² × floor area 248.42m² × remaining life 0y ÷ statutory life 22y
- Built Oct 1975 (50 years old)
Official Road Price Trend (last 3 years)
Cumulative change 2024 → 2026: +3.0%| Year | Road price (JPY/m²) | YoY |
|---|---|---|
| 2024 | 165,000 | — |
| 2025 | 165,000 | ±0.0% |
| 2026 | 170,000 | +3.0% |
※ Based on inheritance-tax road prices published each July — a reference for the trend in land collateral value.
How We Checked This Property
We enlarged the single exterior photograph to measure the boundary wall, and matched the property's coordinates against the 2026 valuation map before settling on a representative land value.
What We Could Not Confirm
- The ratio is close to our threshold: taking the road value one band lower gives 80.0%, essentially the threshold itself. The margin is slim.
- The 7.79% gross yield assumes full occupancy. The listing states unit 204 is vacant and unit 102 is scheduled for restoration, so the building is currently partly vacant.
- The northern and eastern boundaries fall outside the photograph, so we could not visually check for retaining walls on those sides (survey data shows only a gentle slope).
- For a 50-year-old building, the listing gives no repair history, seismic retrofit status, or rent breakdown by unit.
※ Rather than reproducing the listing as-is, we verified the figures against public sources such as the official road price maps and the listing photos. This is not based on a site visit, so please confirm on site and with the seller before deciding.
Neighborhood ① Shopping Near the Station
Neighborhood ② Dining Near the Station
About This Property
This is a two-storey timber-framed apartment block of eight units, a 17-minute walk from Yanasegawa Station on the Tobu Tojo Line. It was built in October 1975 and is now 50 years old. Ikebukuro is around 30 minutes away on the Tojo Line, less if you change to an express at Shiki. The surrounding area is zoned Category II medium-to-high-rise residential, with supermarkets, convenience stores and restaurants within a five-minute walk.
The registered land area is 290.58 sqm and the building totals 248.42 sqm. The sale includes a second lot forming the 4.0-metre designated-position road to the south, but we confirmed from the cadastral drawing that the 290.58 sqm figure refers to the main residential lot alone. No private-road burden, setback or sloped portion is noted.
The assessed value is 49.40 million yen for the land (170,000 yen per sqm times 290.58 sqm). At 50 years the timber structure is well past its 22-year statutory life, so the building is valued at zero, and the land alone gives 82.5% against the 59.9 million yen asking price. Please note that this ratio sits close to our 80% threshold with little margin. Taking the next band down at 165,000 yen per sqm gives 80.0% — essentially the threshold itself. The road-frontage value was 165,000 yen in 2024 and 2025, rising to 170,000 in 2026.
The gross yield of 7.79%, on projected annual rent of 4.668 million yen, assumes full occupancy. The listing states that unit 204 is vacant with restoration work completed, and that unit 102 is scheduled for restoration. In other words the building is partly vacant and actual income is below the figure quoted, so the numbers should be modelled with re-letting in mind.
From the exterior photograph, the site sits at essentially the same level as both the road and the western lane, and the boundary block wall retains only about 0.55 to 0.60 metres — not a retaining wall, and no stepped access. How you weigh a 50-year-old building and partial vacancy will decide this one.
Estimated Financing
Suggested Lenders
※ General tendencies of lenders covering this area, for information only. This does not guarantee or suggest any specific financing outcome.
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