Case Study

Multifamily

Multifamily Property in Hampton, VA Improves NOI by $11K+

Hampton, VA

Image of Multifamily property for Multifamily Property in Hampton, VA  Improves NOI by $11K+

$185,000 in Added Property Value

Solutions Found:

Flood Expert Survey

LOMA

Solutions Value: Over $11K annual premium savings, adding $185,000 property value

NFE Solutions: FES; LOMA

A client purchasing a multifamily property in Hampton, VA, sought to reduce expenses associated with flood insurance premiums and avoid potential excess requirements from their lender. To explore potential solutions, the client reached out to National Flood Experts (NFE).

NFE's team immediately began working on the client's request. They conducted a comprehensive analysis of the property and its surroundings, paying close attention to topography, elevation, and existing flood zone information. Through their initial desktop engineering review, NFE identified several buildings that qualified for removal from the flood zone. Additionally, the review indicated a high likelihood that more buildings could qualify after collecting on-site data by performing a Flood Expert Survey (FES).

Prior to closing on the property, NFE's solutions played a crucial role in facilitating the removal of lender mandates for many of the buildings. Furthermore, even more buildings qualified for removal from the flood zone post-closing, resulting in a significant improvement to the Net Operating Income (NOI) by over $11,000. Additionally, the property value increased by an estimated $185,000.

Thanks to NFE's expertise and commitment to providing quality service, the client achieved their financial goals and experienced tangible benefits. The reduced flood insurance premiums and increased property value placed the client's assets in a better financial position.

NFE takes great pride in assisting our clients in achieving their financial objectives. The successful outcome of this case study serves as a testament to the value NFE brings to the table through specialized engineering and consulting services. By delivering innovative solutions and delivering exceptional results, we continue to strive to establish ourselves as a trusted partner for clients seeking to navigate flood insurance challenges and improve their bottom line.

View Other Case Studies

Image of Industrial property for Industrial Storage Facility Reduces Annual Flood Insurance Premiums by $10K

$167,000 in Added Property Value

Industrial Storage Facility Reduces Annual Flood Insurance Premiums by $10K - Bonita Springs , FL

Learn how an industrial storage facility in Bonita Springs, FL, reduced annual flood insurance premiums by $10,000 and increased property value by $167,000. NFE provided a solution to overcome the financial challenges posed by updated FEMA maps by completing a meticulous Flood Expert Survey (FES) and qualifying 2 of 3 buildings for a Letter of Map Amendment (LOMA). Discover NFE's expertise in flood zone solutions and ability to deliver substantial savings.

Image of Multifamily property for Mississippi Multifamily Property Successfully Removed from Flood Zone

$225,000 Added Property Value

Mississippi Multifamily Property Successfully Removed from Flood Zone - Starkville, MS

Discover how an introduction to NFE from their insurance broker helped a Multifamily Property in Starkville, MS, save $13,500 in flood insurance premiums and add $225,000 in property value. Working with NFE to uncover savings opportunities is a win for insurance agents and policyholders.

Image of Multifamily property for MD Multifamily Property - $48K NOI Increase

$48,000 NOI Increase

MD Multifamily Property - $48K NOI Increase - Dundalk, MD

A 60 building property just outside of Baltimore, MD, saved $48,000 in flood insurance premiums after our engineering review qualified 11 buildings for removal from the flood zone, removing the lender mandate for flood insurance.