Case Study

Multifamily

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

Hampton, VA

$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 Multifamily property for Cold Call Results in $116K Property Value Increase for Multifamily Owner

$116K in Added Property Value

Cold Call Results in $116K Property Value Increase for Multifamily Owner - Colorado Springs, CO

Explore how National Flood Experts helped a client increase the value of their multifamily property in Colorado Springs, CO by more than $116,000. Through NFE’s comprehensive engineering review, the building was successfully removed from the high-risk flood zone, eliminating the lender mandate for flood insurance and decreasing annual expenses by nearly $7,000 while also increasing property value.

Excess Flood Insurance Requireme

Excess Flood Insurance Requirement Eliminated for DE Multifamily Property - Dover, DE

Explore how a Dover, DE, multifamily property eliminated excess flood insurance requirements, added property value, and reduced annual flood insurance expenses thanks to NFE's comprehensive engineering review and Flood Expert Survey (FES). NFE's analysis, supported by on-site data collected during the FES, qualified 3 of 4 buildings for removal from the high-risk flood zone, eliminating the lender mandate for flood insurance for those three buildings and eliminating the excess flood insurance requirement.

Image of Multifamily property for Reducing Insurance Costs and Boosting Property Value in a High-Risk Flood Zone

$108,000 in Added Property Value

Reducing Insurance Costs and Boosting Property Value in a High-Risk Flood Zone - Albuquerque, NM

Explore how a multifamily property in Albuquerque, NM, eliminated its annual flood insurance costs and how NFE’s Flood Expert Survey helped remove the property from the SFHA, raising the overall property value by over $108,000.