Overview of Neohaitsu Furukawa Chuuou (ネオハイツ古川中央)
Neohaitsu Furukawa Chuuou (ネオハイツ古川中央) is a 28-year-old condominium located at Oosaki Ichiko Kawa Saiwaichou 1 Choume 1-17 (大崎市古川幸町1丁目1-17), Miyagi, Japan. Built in 1998, it comprises 54 units in a Reinforced Concrete (RC) structure. It was constructed by Daiwadanchi (大和団地).
Pricing & Floor Plans
Based on 16 past listings, prices have ranged from 980〜1,898万円 (approx. $65,333–$126,533 USD at ¥150/$).
Unit sizes range from 63.0–77.5 sqm (678–834 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 4LDK (4-bedroom w/ living-dining-kitchen), 2SLDK (2-bedroom w/ living-dining-kitchen + service room), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥24.3万/sqm (approx. $1,619/sqm or $150/sqft).
Location & Neighborhood
The property is located at Oosaki Ichiko Kawa Saiwaichou 1 Choume 1-17 (大崎市古川幸町1丁目1-17), Miyagi, Japan. It is a 6-minute walk to the nearest station. This is considered good station access by Japanese standards.
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 54 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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