Property Condition
Property condition is the physical state and functional status of a building and its systems, directly impacting value, marketability, and operating expenses.
| Condition Rating | Description |
| Excellent | New or renovated, no deferred maintenance |
| Good | Well-maintained, minor cosmetic issues only |
| Average | Functional but shows age, some updates needed |
| Fair | Significant deferred maintenance, systems aging |
| Poor | Major repairs required, functional obsolescence |
| Condition Impact | Valuation Adjustment |
| Excellent vs good | Premium 5% to 10% |
| Good vs average | Premium 5% to 8% |
| Average vs fair | Discount 10% to 15% |
| Fair vs poor | Discount 15% to 25% |
| Renovation potential | Value-add opportunity |
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