Case Study

Multifamily

Property Owner in Texarkana Trims Year-Over-Year Flood Insurance Premiums by $10K

Texarkana, TX

Image of Multifamily property for Property Owner in Texarkana Trims Year-Over-Year Flood Insurance Premiums by $10K

$10K Year-Over-Year Savings

Solutions Found:

LOMA

Flood Expert Survey

Solutions Value: $10K Year-Over-Year Savings | $167K Added Property Value

NFE Solution: LOMA; FES

Discover how National Flood Experts (NFE) helped a vertically integrated investment and management firm based in Houston, TX, to reduce their high flood insurance premiums for a multifamily property in Texarkana, TX. By performing a thorough Flood Expert Survey (FES) and obtaining a Letter of Map Amendment (LOMA), NFE significantly decreased costs and improved property value.

After completing successful projects in the area, NFE contacted the owners of a Texarkana multifamily property. The client expressed frustration with high flood insurance premiums and their interest in finding solutions. They decided to explore potential savings with NFE.

Flood Expert Survey (FES): NFE reviewed the necessary documents provided by the client and identified an opportunity for further evaluation. They advised the client to proceed with a comprehensive FES of the property to assess potential savings scenarios fully. Committed to reducing their flood insurance premiums, the client agreed to move forward with the FES.

NFE's field experts promptly conducted the FES, gathering accurate and building-specific data for determining available savings scenarios. Leveraging their expertise and knowledge, NFE diligently worked to provide an optimal solution for the client.

Solution: After thorough analysis, NFE's engineering review determined that the property qualified for a LOMA. This designation removed the property from the high-risk flood zone, significantly reducing flood insurance premiums.

Results and Benefits: By successfully obtaining the LOMA for the client's property, NFE achieved the following outcomes:

Increased Net Operating Income (NOI): The client experienced a boost in their NOI by $10,000, directly resulting from the reduced flood insurance premiums.

Enhanced Property Value: The reassessment and removal from the high-risk flood zone led to an impressive increase in property value by $167,000, providing long-term benefits for the multifamily property.

Through the comprehensive FES and successful LOMA submission, NFE reduced the client's flood insurance premiums and improved property value.

View Other Case Studies

Image of Multifamily property for Lender Mandates Removed For A Multifamily Building in Oklahoma City, OK

$120,000 in Added Property Value

Lender Mandates Removed For A Multifamily Building in Oklahoma City, OK - Oklahoma City, OK

Discover how NFE successfully removed a multifamily building in Oklahoma, OK, from a complex A flood zone. After conducting a thorough Flood Expert Survey, we obtained FEMA's approval for a LOMA, saving the client nearly $7,200 per year on flood insurance and boosting property value by approx. $120,000.

Image of Industrial property for Storage Facility in Hixson, TN Reduces Flood Insurance Premiums by $11.3K

$184K in Added Property Value

Storage Facility in Hixson, TN Reduces Flood Insurance Premiums by $11.3K - Hixson, TN

Read how National Flood Experts helped an industrial storage facility in Hixson, TN, achieve cost-cutting solutions and overcome financial strain caused by high flood insurance premiums. Through a comprehensive review process, NFE saved the client over $11,000 annually and increased their property value by $184,000. Discover how NFE's expertise and strategic recommendations transformed the client's financial position and set them up for long-term success.

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.