Overview of Neohaitsu Isehara (ネオハイツ伊勢原)
Neohaitsu Isehara (ネオハイツ伊勢原) is a 41-year-old condominium located at Iseharashi Sakuradai 1 Choume 22-15 (伊勢原市桜台1丁目22-15), Kanagawa, Japan. Built in 1985, it comprises 112 units in a Reinforced Concrete (RC) structure. It was constructed by Asanuma Kumi (浅沼組).
Pricing & Floor Plans
Based on 20 past listings, prices have ranged from 650〜2,990万円 (approx. $43,333–$199,333 USD at ¥150/$).
Unit sizes range from 39.2–99.6 sqm (422–1072 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 1SLDK (1-bedroom w/ living-dining-kitchen + service room), 2SLDK (2-bedroom w/ living-dining-kitchen + service room), 1K (1-bedroom w/ kitchen), 1R (Studio), 2DK (2-bedroom w/ dining-kitchen).
Estimated price per sqm: ¥25.4万/sqm (approx. $1,696/sqm or $158/sqft).
Location & Neighborhood
The property is located at Iseharashi Sakuradai 1 Choume 22-15 (伊勢原市桜台1丁目22-15), Kanagawa, Japan. It is a 2-minute walk to the nearest station. This is considered excellent station access in Japan, where most daily errands are done on foot or by train.
Investment Perspective
Building depreciation: In Japan, buildings depreciate significantly over time. Wood-frame houses depreciate to near-zero value at around 22 years, while RC structures depreciate more slowly but still lose value. At 41 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 112 units, this is a relatively large condominium. Larger buildings typically benefit from lower per-unit maintenance and repair reserve costs.
Key cultural note: Unlike the US where properties typically appreciate over time, Japanese buildings depreciate while the underlying land tends to hold or gain value. This means buyers should evaluate the land-to-building value ratio carefully.
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