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I have a dataset with property values for a variety of different types of property. I have the age (from build year) of each property however some of the properties are simply "undeveloped residential land" which have no build year. I was wondering what values I should add for these data points if I want to use this data. I thought about putting "0" for age but this would apply it's brand new. I also have thought about just getting rid of build year altogether.

This is my first data science project and would love any suggestions.

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  • $\begingroup$ You might follow real-life appraisals & break it out by value of land + value of improvements (i.e., buildings). Then age could be "age of most recent building" or "age of main building" or "mean age of buildings" or whatever makes sense for the property type (single family residential with just a building or two, commercial real estate with many buildings, etc.). Unimproved land then has improvement age of N/A. $\endgroup$
    – C8H10N4O2
    Nov 29, 2022 at 15:49

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