Is it friable (ie loose & deteriorating)?

The tenants used snow salt this past winter which cause the concrete to begin to deteriorate at the edges.

Other factors (deterioration, market demand, neighborhood, etc.) more closely determine the value of the property.2.

I would also wonder why the appraisal is low- Obviously, it is based off recent comps -- is the whole area deteriorating?

Unfortunately this was in 2007 and things quickly deteriorated.  

As an agent, I frequently work with landlords that want to sell because they have let too much go unchecked for too long, and they give up when they see how their property, and quality of tenants, have deteriorated. 

As others mentioned if it has galvanized pipes they can be deteriorated and causing blockages.

I enjoy helping those who appreciate my help, and I abstain from helping those who place little value on my advice, or participating in threads that deteriorate into chaos.I guess I'm from the  old school, in that I believe people who need something should come ask for it - and if they're serious, they should persist.  

Moody's just recognized the seriousness of Illinois' population loss and how that trend could result in a Detroit death spiral.Moody's just recognized that a "self-reinforcing cycle of population loss and economic stagnation" in Illinois (and Chicago) could lead to a Detroit death spiral.http://capitolfax.com/2017/01/05/moodys-frets-over...https://rebootillinois.com/2017/01/06/only-in-illi...From Moody's: "Population loss can be a cause, as well as an effect, of economic deterioration.

Tree roots don't grow into pipes unless they are already leaking, as @Jon Holdman described in his example of deteriorated clay pipes.