[Assessed 144.9%] Detached house in Adachi Ward, Tokyo — 19 min from Nishi-Arai Sta.

⚠️ This is a leaseback sale: the seller will keep living in the house as the tenant. The flyer states that it comes with a repurchase option at 13 million yen, effective after 8 years. If the option is exercised, the buyer has to give up the property for 13 million yen, which is 2 million yen below the 15 million yen price and about 5.84 million yen below the land value calculated from the route price (about 18.84 million yen). The listing does not state when the option period ends, the conditions for exercising it, whether it is registered, or the type and term of the lease, so these need to be confirmed with the agent.

The property is in Shimane 2-chome, Adachi Ward, Tokyo, a 19-minute walk from Nishi-Arai Station on the Tobu Skytree Line (Isesaki Line). It lies in a Category 1 medium-to-high-rise exclusive residential zone (building coverage 60%, floor area ratio 200%) and a quasi-fire prevention district, and the terrain is described as flat. The wooden two-story house with a slate roof was built in September 1988 (38 years old), has a 2LDK layout and 95.03 m² of floor area (49.87 m² on the first floor and 45.16 m² on the second), on 78.49 m² of freehold residential land. According to the flyer, the front road is a public road under Article 42-1-1 of the Building Standards Act, with no private-road share and no setback, but the road width and direction are not given.

The rent is 80,000 yen per month (960,000 yen per year), a 6.40% gross yield. The seller currently lives there and the house is to continue as a rental after the sale. The first-floor area of 49.87 m² is about 63.5% of the 78.49 m² lot, above the designated 60% building coverage, so it needs to be confirmed whether a corner-lot allowance applies or the building is non-conforming due to later rule changes. Utilities are public water and city gas, while sewage and gray water are listed as "under investigation". No parking is listed, though a car is parked beside the house in the exterior photo.

The 2026 route price is 240,000 yen/m² (220,000 yen/m² in 2024 and 230,000 yen/m² in 2025). Among the block roads in Shimane 2-chome, 240,000 and 245,000 yen/m² are tied as the most common values, and the lower one is used. The building is past its statutory useful life and is valued at zero; the land alone comes to about 125.6% of the price, and about 109.9% even at the lowest band in the district (210,000 yen/m²). If the repurchase option is exercised, however, this land value is not reflected in the amount received. Rakumachi has only one flyer image, but in the exterior photo printed on it, the block wall in front of the house (about 1.0 m high) has ground at the same level on both sides and is not a retaining wall, and no steps or stairs are visible. The front road is not shown head-on, and the boundary on the side not shown is unconfirmed. Nearby places are given as straight-line distances from the Rakumachi map point (OpenStreetMap).