Property Valuation
A Mississippi appraiser estimates 'functional obsolescence' in a residential property because the home has only one bathroom for a 4-bedroom house. This is an example of:
APhysical deterioration from age and use
BFunctional obsolescence due to a deficiency — a feature that is inadequate by current market standards✓ Correct
CExternal obsolescence from neighborhood factors
DDepreciation from deferred maintenance
Explanation
A single bathroom for a 4-bedroom home represents functional obsolescence from deficiency — the property lacks a feature (additional bathrooms) that current market participants expect. This reduces marketability and value compared to similar homes with adequate bathrooms for the bedroom count.
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