Overview of Neohaitsu Natori Ekimae (ネオハイツ名取駅前)
Neohaitsu Natori Ekimae (ネオハイツ名取駅前) is a 28-year-old condominium located at Natorishi Masuda 2 Choume 4-48 (名取市増田2丁目4-48), Miyagi, Japan. Built in 1998, it comprises 68 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Tekken Kensetsu (鉄建建設).
Pricing & Floor Plans
Based on 33 past listings, prices have ranged from 1,580〜2,800万円 (approx. $105,333–$186,667 USD at ¥150/$).
Unit sizes range from 64.4–84.3 sqm (693–907 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 4LDK (4-bedroom w/ living-dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥32.5万/sqm (approx. $2,169/sqm or $202/sqft).
Location & Neighborhood
The property is located at Natorishi Masuda 2 Choume 4-48 (名取市増田2丁目4-48), Miyagi, 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 28 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 68 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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