Case Study

Multifamily

Multifamily Property Avoids Flood Insurance Requirements at Closing

Shepherdsville, KY

$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 Multifamily Property Adds $75K in Value

$75K in Added Property Value

Multifamily Property Adds $75K in Value - Texarkana, AR

Learn how National Flood Experts helped a client increase the value of their multifamily property in Texarkana, AR, by $75,500. Through NFE’s comprehensive engineering review, one building was successfully removed from the high-risk flood zone, eliminating the lender mandate for flood insurance and decreasing annual expenses by $4,500+ while also increasing property value.

Image of Multifamily property for OH A-Zone Property Saves $48K In Annual Premiums

≈$814K in Property Value Added

OH A-Zone Property Saves $48K In Annual Premiums - Lebanon, OH

Learn how National Flood Experts helped a top Affordable Housing Owners increase the value of their multifamily property in Lebanon, OH, by more than $814,000. Through NFE’s comprehensive engineering review, four buildings were successfully removed from the high-risk “A” flood zone, eliminating the lender mandate for flood insurance and decreasing annual expenses by $48,000+ while also increasing property value.

Image of Multifamily property for LOMA Success for Randolph, MA, Affordable Housing Community

≈$123K in Property Value Added

LOMA Success for Randolph, MA, Affordable Housing Community - Randolph, MA

Explore how National Flood Experts helped an affordable housing community in Randolph, MA, increase the value of their property by nearly $137,000, remove lender mandates for several buildings, and improve annual NOI by $7,300+. Through NFE’s comprehensive engineering review, three buildings were successfully removed from the high-risk “A” flood zone.