Tsumagoi Highland Villa — Post-Seismic 2LDK, Minpaku-Approved Zone at ¥3.6M
1997-built 2LDK in confirmed minpaku-capable villa zone. 386㎡ highland land. ¥3.6M — gateway to Japan's fastest-growing onsen STR market.
At ¥3.6M (US$24K), this 1997-built 2LDK sits in a villa subdivision the agent explicitly calls '民泊も出来る広大な別荘地' (a spacious villa zone where minpaku is permitted) — eliminating the regulatory guesswork that kills most rural STR acquisitions in Japan. Public water supply (公営水道) avoids the private-system complications common in Tsumagoi. The 386㎡ highland plot allows a rebuild up to 154㎡ within BCR/FAR limits, enabling a 4-6 room STR from what is essentially a land price purchase. Tsumagoi Village is flanked by Kusatsu Onsen (Japan's #1-ranked hot spring, 25 min drive) and Manza Onsen (12 min). AirROI 2025–2026 records $294 ADR and $31,873 median annual revenue across 111 Tsumagoi Airbnb listings. Total investment ¥12.1–24.1M with rebuild. Gross yield 39.4%, payback 2.5–5.1 years. Car essential — Shinkansen (Karuizawa) 90 min by car.
Minpaku (short-term rental) status not confirmed. Verify with the municipal office and your agent before completing purchase. STR operation may be restricted to 180 days/yr or prohibited.
(conservative–optimistic)
(118 days avg)
(low–high investment)
Built April 1997, post-new-seismic standard (1981+). Single-storey wood frame. Public water supply (公営水道). The listing agent explicitly describes this as '民泊も出来る広大な別荘地' — a villa zone where minpaku hosting is confirmed possible. BCR 20% / FAR 40% on 386㎡ — allows rebuild up to 77㎡ footprint (154㎡ total floor area) within current zoning. Confirm minpaku permit details with local authority before purchase.
Renovation estimate: ¥8.0M – ¥20.0M
Source: AirROI 2025–2026 · 111 active listings analysed
⚠ Minpaku Status: Requires Verification
Villa zone confirmed minpaku-capable — verify permit before purchase
- ♨ 18km · 25minKusatsu Onsen (Japan's #1 ranked hot spring)
- ⛷ 5km · 8minTsumagoi Resort Ski Area
- ♨ 8km · 12minManza Onsen
- ⊙ 10km · 15minManza-Shikasawa-guchi Station (JR)
- · 1km · 3minOmae Vegetable Farms (seasonal attraction)
- Minpaku (STR) permit — Requires pre-purchase verification with municipal office
- Structural inspection — Not yet conducted. Recommend independent inspection (¥50k–¥100k) before purchase.
- Land rights: Confirm ownership vs. leasehold (借地権). Leasehold affects resale value and mortgage eligibility.
- Utilities: Verify water supply (public / well), sewage (公共下水 vs. 浄化槽), gas (city gas / propane — propane is 2–3× higher cost).
- Earthquake resistance: Built 1997 — post-1981 new seismic standard (新耐震)
- Acquisition costs: Budget +5–8% on top of purchase price (registration, agent fee, tax).