[Assessed 108.8%] Land in Hanamigawa Ward, Chiba City, Chiba — 12 min from Keisei Owada Sta.

There is not a single photo of this site. The listing carries one image, captioned "reference exterior", and it turns out to be a completed apartment building elsewhere — a showcase of the developer's work. The property itself is vacant land, so nothing can be read from that picture. The photo checks this site normally runs — retaining walls, any step up from the road, stepped access, whether the plot is a flagpole — could therefore none of them be carried out. The listing's road-access field is blank too, so neither the width nor the orientation of the frontage road is known. The thumbnail is a figure prepared by this site, not a photograph of the property.

It is a plot of land in Yokotocho, Hanamigawa-ku, Chiba, 12 minutes on foot from Keisei Owada Station on the Keisei main line. The registered area is 247.00 sqm, zoning is Category 1 Low-Rise Exclusive Residential at 50 percent building coverage and 100 percent floor area ratio, the land category is residential, and the current state is vacant. It sits inside the urbanisation promotion area. The listing markets it as a "new-build apartment scheme, 1LDK x 6 units", but the notes state plainly that the price is for the land only, so the building is extra. The listing itself adds that details may change subject to survey, so the unit count and layout are not settled. Category 1 Low-Rise zoning can bring height limits, north-side setback lines and boundary setbacks, so whether the scheme can be built as drawn needs checking.

The assessed value comes to 108.8 percent. As vacant land there is no building to assess, so the figure is land alone. The inheritance-tax street value in Yokotocho is 74,000 yen/sqm; times 247.00 sqm it gives 18.27 million yen, about 9 percent above the asking price of 16.8 million. The street value rose 2.8 percent over three years — 72,000 yen in 2024, 73,000 in 2025, 74,000 in 2026, up a thousand a year. At 68,000 yen/sqm the asking price is about 92 percent of the street value, which is not unusually cheap: other plots in the same neighbourhood within reach of Keisei Owada run from 71,000 to 133,000 yen/sqm, and this one prices lower per square metre simply because 247 sqm is large.

One point about reading the street value. Yokotocho has no chome divisions, the town spans four street-value map sheets, and on two of them most of Yokotocho is marked "multiplier area". A multiplier area has no street value assigned — inheritance tax there is the fixed-asset valuation times a multiplier — so this site's assessment formula cannot be used. This property, however, carries the urbanisation promotion area, the Category 1 Low-Rise zoning, the 50 and 100 percent ratios and the residential land category all together in the listing, which places it outside the multiplier area. Counting the residential streets within the town then gives two distinct groups: 79,000 to 90,000 yen in the north, toward the boundary with Yachiyo, and 64,000 to 81,000 yen in the south, around Higashi-Rokuban through Higashi-Juichiban and Takanodai. With no lot number disclosed it cannot be settled which group applies — but reaching 80 percent needs only 54,000 yen/sqm, and even the town's lowest band of 64,000 yields 94.1 percent. No choice of band changes the conclusion.