Which factor is NOT considered when evaluating functional depreciation?

When evaluating functional depreciation, the primary focus is on how a property's design, features, or overall functionality have become less desirable or efficient, often due to changes in market expectations or advancements in technology. Functional depreciation is typically triggered by factors such as outdated design, where the property does not meet current standards or consumer preferences, and technological advancements, which can render certain features obsolete or less valuable.

The physical condition of the property, while important in general valuation processes, pertains more to physical depreciation, which deals with wear and tear and deterioration over time, rather than how the property's functionality or desirability has been affected by design and technological changes. In this context, physical condition does not play a direct role in assessing functional depreciation, distinguishing it from the other factors that directly relate to a property’s functional utility and career relevance.