Matsumoto Castle Town 4K — Public Water + Main Sewer, ¥9.8M
¥9.8M, 1986-built 4K near Matsumoto Castle town. Public water + municipal sewer. Fastest-growing Nagano STR market: +35.8% YoY, 90% international guests.
At ¥9.8M (US$66K), this 1986-built 4K in Matsumoto's Okada district comes with the full urban utility stack: public water (公営水道) and municipal main sewer (本下水) — both standard for city properties but notable for sub-¥10M rural Japan listings. Matsumoto is Japan's fastest-growing STR city among Nagano destinations: AirROI 2025–2026 records +35.8% YoY revenue growth, 50.7% occupancy, and 90% international guest share — meaning guests come from abroad, stay for an average of 2.3 nights, and leave 4.87/5 ratings. Four separate rooms suit solo travelers and couples who prefer private sleeping areas. The city offers a rare combination: Matsumoto Castle (National Treasure, 15 min drive), Kamikochi alpine trails (40 min), and JR Azusa Express to Tokyo in 2.5h. Total investment ¥12.5–15.8M. Gross yield 28.9%, payback 3.5–4.4 years.
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)
(185 days avg)
(low–high investment)
Built September 1986, post-new-seismic standard. Wooden 2-story construction. Public water supply (公営水道) and municipal main sewer (本下水) — the full urban utility stack. South-facing orientation with good natural light. Type 1 Medium-High use zone (1種中高) — confirms residential character. 5.5m road frontage, no private road burden. Independent washroom, separate bathroom and toilet. 1 parking space only — consider nearby parking arrangements for multi-vehicle guest groups.
Renovation estimate: ¥2.0M – ¥5.0M
Source: AirROI 2025–2026 · 95 active listings analysed
⚠ Minpaku Status: Requires Verification
Requires verification before purchase
- · 7km · 15minMatsumoto Castle (National Treasure)
- ⊙ 7km · 15minMatsumoto Station (JR Chuo / Oito lines)
- · 25km · 40minAzusa River & Kamikochi Gateway
- ♨ 8km · 18minAsama Onsen
- ⊙ 5km · 10minKita-Matsumoto Station (Matsumoto Electric)
- 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 1986 — post-1981 new seismic standard (新耐震)
- Acquisition costs: Budget +5–8% on top of purchase price (registration, agent fee, tax).