Case Study

Multifamily

Multifamily Property Avoids Flood Insurance Requirements at Closing

Shepherdsville, KY

Image of Multifamily property for Multifamily Property Avoids Flood Insurance Requirements at Closing

$165K in Added Property Value

Solutions Found:

Flood Expert Survey

LOMA

SolutionsValue: $10,000+ Flood Insurance Cost Avoided with an Increase Property Value of $165,000

NFE Solutions: FES, LOMA

Our Client was under contract to purchase a multifamily complex in Shepherdsville, KY. The property had an existing Letter of Map Amendment (LOMA) that included some, but not all, buildings. During the due diligence period, the lender notified the buyer that they would require flood insurance on all buildings on the property not included in the existing LOMA.

National Flood Experts (NFE) performed a desktop engineering review, and the reviewers were confident that with on-site data collected via a Flood Expert Survey (FES), the entire property would qualify for removal from the Special Flood Hazard Area (SFHA).

Following the FES, NFE qualified all buildings on the property for a LOMA, leading to $10,000+ in flood insurance savings, immediately increasing the property value by $165,000. Most importantly, it removed the lender mandate for flood insurance facilitating a smooth closing for the Client.

View Other Case Studies

Image of Multifamily property for $59K Portfolio Savings in Virginia

$59,000 NOI Increase

$59K Portfolio Savings in Virginia - Pembroke, Pulaski, VA Beach, VA

Our team reviewed 13 multifamily buildings across three properties for a client in Virginia; after completing a Flood Expert Survey, our engineers analyzed data identifying $59K in portfolio savings

Image of Multifamily property for Refinance Requirement for Flood Insurance Avoided

Slashing Refinance Red Tape

Refinance Requirement for Flood Insurance Avoided - Boise, ID

Discover how a multifamily property owner in Dover, DE, eliminated the need for flood insurance coverage while maximizing their refinance. NFE’s engineering review helped the owners overcome restrictions while also increasing property value.

Image of Land property for Unlocking Potential: Transforming a Flood-Zone Property into a Lucrative Investment Opportunity

NFE Transforms Land Investment

Unlocking Potential: Transforming a Flood-Zone Property into a Lucrative Investment Opportunity - Buda, TX

Through meticulous assessment and expertise, National Flood Experts successfully confirmed the removal of 20.1 acres from the flood zone, effectively doubling the developable acreage of a parcel in Buda, TX. This game-changing solution not only increased the property value but also played a pivotal role in broadening the buyer pool.