[Assessed 214.4%] Apartment building in Kanagawa Ward, Yokohama, Kanagawa — 12 min from Myorenji Sta.
Property Overview
| Location | Kanagawa Ward, Yokohama, Kanagawa |
| Nearest Station | Tokyu Toyoko Line Myorenji Sta. |
| Walk | 12 min walk |
| Assessed Ratio | 214.4%Assessed 214.4% |
| Price | ¥14,800,000 |
| Type | Apartment building |
| Expected Yield | 15% |
| Structure | Wooden |
| Built | Built Sep 1967 (59 years old) |
| Land Area | 132.23㎡ |
| Building Area | 115.92㎡ |
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.
| Kenbiya | ¥14,800,000View listing |
Assessed Value Breakdown
| Land assessed value | ¥31,735,200 |
| Building assessed value | ¥0 |
| Total assessed value | ¥31,735,200 |
| Asking price | ¥14,800,000 |
| Assessed ratio | 214.4% |
Calculation basis
- Land = road price ¥240,000/m² × land area 132.23m²
- Building = replacement cost ¥220,000/m² × floor area 115.92m² × remaining life 0y ÷ statutory life 22y
- Built Sep 1967 (59 years old)
Official Road Price Trend (last 3 years)
Cumulative change 2024 → 2026: +14.3%| Year | Road price (JPY/m²) | YoY |
|---|---|---|
| 2024 | 210,000 | — |
| 2025 | 225,000 | +7.1% |
| 2026 | 240,000 | +6.7% |
※ Based on inheritance-tax road prices published each July — a reference for the trend in land collateral value.
How We Checked This Property
With no on-site photos and no lot number disclosed, we narrowed the location from the walking times to the stations and checked it against the 2026 route price maps, GSI elevation data and the other sites listing the same property.
What We Could Not Confirm
- Because not a single on-site photo is published, the presence of retaining walls and any step between the lot and the front road (including whether the lot can only be reached by stairs) are unconfirmed. The surroundings are hilly with large height differences; if there is a slope or retaining wall, whether the cliff ordinance applies needs to be checked on site or with the agent.
- Whether it is a flag-shaped lot (reaching the road through a narrow passage), whether it is a row-type building sharing walls with its neighbours, and how worn the 59-year-old exterior is are also unconfirmed because there are no photos.
- The road access field says only "north side"; the road width, whether it is public or private, and its classification under the Building Standards Act are not stated. Whether the building can be rebuilt needs to be confirmed with the agent.
- Only the district name (Nishi-Oguchi) is disclosed, so the route price is an estimate using the most common value, ¥240,000/m², in the area narrowed down from the walking times, and its precision is limited. Using the area's lowest value of ¥220,000/m², the assessed ratio would be about 196.6%.
- The listing does not explain why the price is so far below the land value implied by the route price. Any encroachment, the tenancy contracts and occupancy status, and the surveyed land area (the listing gives the registered 132.23m²) need to be confirmed with the seller.
※ 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
A wooden apartment building in Nishi-Oguchi, Kanagawa Ward, Yokohama. The listing gives walking times of 12 minutes from Myorenji Station on the Tokyu Toyoko Line, 13 minutes from Oguchi Station on the JR Yokohama Line and 19 minutes from Koyasu Station on the Keikyu Main Line. The zoning is Category 1 Medium-to-High-Rise Exclusive Residential (building coverage 60%, floor-area ratio 150%) within the urbanization promotion area. Only the district name (Nishi-Oguchi) is disclosed, not the lot number. The area narrowed down from the walking times is hilly ground east of Tsunashima Kaido; GSI 5m-mesh elevation data show a 23m difference between two points about 110m apart.
The building is a two-storey wooden structure completed in September 1967 (59 years old), with four studio (1R) units, all currently let. Total floor area is 115.92m² and the land is 132.23m² (registered area), freehold, registered as residential land, with no private-road burden listed. Annual rent at full occupancy is ¥2.22 million (¥185,000 per month), the gross yield is 15.0% and the price is ¥14.8 million. Because the building is past the statutory useful life for wooden structures, its assessed value is ¥0. ⚠️ The road access field says only "north side": the road width, whether it is public or private, and its classification under the Building Standards Act are all missing, so the listing does not show whether the building can be rebuilt.
⚠️ For the 2026 route price we used ¥240,000/m² (leasehold ratio D), the most common value on the local roads in the estimated area, up about 14.3% from ¥210,000/m² in 2024. On that value the assessed ratio is 214.4%, but we do not read this as a bargain; we treat it as a property whose price cannot be explained from the listing. The price of ¥14.8 million is far below even the land value at the lowest route price in the area, ¥220,000/m² (about ¥29.09 million for 132.23m²). The price may reflect circumstances not shown in the listing, such as the building not being rebuildable, the access road not being a road under the Building Standards Act, or a slope or retaining wall subject to the prefectural cliff ordinance. Anyone considering it should ask the seller about: whether rebuilding is allowed and the type and width of the access road; whether there is a slope or retaining wall and whether the cliff ordinance applies; any encroachment; the status of tenants and occupancy; and the surveyed land area.
Neither the Kenbiya listing nor the two other sites listing the same property show a single on-site photo, so the presence of retaining walls, any step between the lot and the front road, whether it is a flag-shaped lot, whether it is a row-type building and the condition of the exterior are all unconfirmed. The thumbnail is an illustration made by this site. Nearby places are shops confirmed in OpenStreetMap to be in Kanagawa Ward, Yokohama; because the lot number is unknown, distances are straight-line distances from the centroid of Nishi-Oguchi (coordinates from the GSI address search), not from the property.
Estimated Financing
Suggested Lenders
※ General tendencies of lenders covering this area, for information only. This does not guarantee or suggest any specific financing outcome.
Learn About Assessed Value and Financing
Our blog explains the basics you need to read the numbers on this page.
不動産担保ローンとは？手持ちの不動産で次の物件を買う方法
不動産担保ローンは、持っている不動産を担保にお金を借りるローンです。仕組みや借りられる金額の目安、次の物件購入に使う方法、メリット・デメリットを解説します。
積算評価・担保評価とは？計算方法と調べ方をわかりやすく解説
積算評価（担保評価）とは、銀行が物件の担保価値を土地と建物から計算する方法です。計算式・再調達価格・法定耐用年数の目安、路線価を使った調べ方、融資が付きやすい物件の特徴を計算例つきで解説します。
More in This Area
![[Assessed 102.7%] Condominium building in Midori Ward, Sagamihara, Kanagawa — 15 min from Hashimoto Sta.](https://toushi.homes.co.jp/upload/p4734/4734429/1782733981341-1.jpg)
[Assessed 102.7%] Condominium building in Midori Ward, Sagamihara, Kanagawa — 15 min from Hashimoto Sta.
[Assessed 81.6%] Detached house in Tsurumi Ward, Yokohama, Kanagawa — 16 min from Kagetsu-Sojiji Sta.
