Chatelet Nagamine II: A Home with Investment Potential in Naha's Historic Tomari District
Critical financial details from the agent notes are translated as follows: The first-floor interior has been renovated. The estimated annual revenue at full occupancy is 2,630,400 yen (219,200 yen/month x 12 months), with a projected Net Operating Income (NOI) of 2,250,800 yen (187,567 yen/month x 12 months). The fixed asset tax valuation for the 7th year of Reiwa is 16,343,444 yen for the land and 7,259,628 yen for the building. A key feature highlighted is the potential for low monthly out-of-pocket mortgage expenses. Based on a sample loan of 63 million yen at 1.3% interest over 50 years, the monthly repayment would be 165,324 yen. After deducting the estimated income of 117,700 yen from the second-floor apartments and parking, the owner's estimated monthly burden could be as low as 25,151 yen. It is crucial to note that actual loan terms and repayments vary and should be discussed with a financial institution.
The Tomari district is a historically significant part of Naha, known for its traditional atmosphere and proximity to the waterfront. An interesting local fact is that Tomari Port was once a vital hub for trade with China and Southeast Asia during the Ryukyu Kingdom era. The area offers convenient living, with the Nakano Bridge bus stop just a 3-minute walk away. For exploration and leisure, residents are a short drive from major attractions like the vibrant Kokusai Dori (International Street) and the historically significant Shuri Castle, a UNESCO World Heritage site and former palace of the Ryukyu Kingdom.
