[Assessed 121.4%] Detached house in Edogawa Ward, Tokyo — 16 min from Shin-Koiwa Sta.

This is a detached house in Honisshiki 3-chome, Edogawa Ward, a 16-minute walk from Shin-Koiwa Station on the JR Sobu Line. Built in August 1964, the two-storey timber structure is 61 years old, with 54.54 sqm of land (about 16.5 tsubo) and 40.82 sqm of floor area laid out as a 3K. Buses also run to Koiwa and Shinozaki, and Tokyo Station is in the low 20s from Shin-Koiwa. The area is zoned Category I medium-to-high-rise residential, with a drugstore, supermarket and convenience stores within a three-to-five-minute walk.

Please note: the road to the west is 3 metres wide, short of the 4 metres required by the Building Standards Act. That width suggests an Article 42-2 road, in which case a rebuild would require setting the site back to 2 metres from the road centreline. The listing records no setback area, and the drawings are floor plans only with no site plan, so we could not determine how much land would be lost. Our practice is not to deduct when the area is unknown, so the valuation uses the full 54.54 sqm. Even deducting a hypothetical 2.75 sqm (5.5 m frontage by 0.5 m) still gives 115.3%, so the 80% threshold is unaffected.

The assessed value is 15.54 million yen for the land (285,000 yen per sqm times 54.54 sqm). At 61 years the timber structure is far past its 22-year statutory life, so the building is valued at zero, and the land alone gives 121.4% against the 12.8 million yen asking price. The road-frontage value rose from 260,000 yen in 2024 to 275,000 in 2025 and 285,000 in 2026 — a 9.6% gain.

From the photographs, the road is level block paving sitting at much the same height as the site, and the entrance is reached over a single threshold step. The brick planter beside the door retains 0.55 to 0.60 metres, below our one-metre threshold. No retaining wall is visible anywhere around the site including the neighbouring boundaries, and a gap along the right elevation confirms the house is not part of a terrace.

At 16.5 tsubo the plot is small, but 12.8 million yen inside the 23 wards produces a 121.4% ratio. With a 3-metre road and a 50% building coverage ratio and 100% floor area ratio, a rebuild would be limited in scale. The sales sheet notes the property could serve as an investment, but gives no projected rent or yield.