Property Valuation
External obsolescence affecting a Maryland property is caused by:
AOutdated kitchen appliances
BPoor floor plan layout
CA new industrial facility built adjacent to a residential neighborhood✓ Correct
DA leaking roof
Explanation
External (economic) obsolescence is caused by factors outside the property, such as a nearby industrial facility, neighborhood decline, or adverse zoning changes.
Related Maryland Property Valuation Questions
- Which principle of value states that the value of a property is affected by the values of surrounding properties?
- Reconciliation in a Maryland appraisal means:
- In Maryland, a property's 'highest and best use' is the use that is:
- A Maryland appraiser's effective date of value is important because:
- In Maryland, the principle of contribution states that the value of a component is measured by:
- The cost approach to value calculates:
- Accrued depreciation in the cost approach is the sum of:
- A property generates a net operating income (NOI) of $45,000. The market capitalization rate is 6%. What is the estimated value?
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