Case Study

Multifamily

Real Estate Portfolio Secures $14.7K Annual Insurance Savings

Clarkston, GA

$245K+ in Added Property Value

Solutions Found:

Flood Expert Survey

LOMA

Solutions Value: $14.7K+ in Annual Premium Savings and $245K+ in Added Property Value

NFE Solution: LOMA; FES

From overwhelming challenges to remarkable success, National Flood Experts secures $14.7K in savings and $245K in added value for an Atlanta, GA, based property management firm for their Clarkston, GA, multifamily property.

Challenge: A property management and real estate investment firm faced challenges due to the flood zone designation for a Clarkston, GA, property, with the lender required them to maintain expensive flood insurance policies for two buildings.

Solution:
NFE conducted a thorough desktop engineering review of the property. To confirm potential solutions, a Flood Expert Survey (FES) was required. The data collected from the FES revealed valuable insights and data. Based on the findings, NFE qualified both buildings for a Letter of Map Amendment (LOMA). Upon approval, the LOMA would remove the lender mandate for flood insurance and provide long-term cost savings for the client.

Cost Savings: The successful removal of the lender mandate for flood insurance resulted in $14.7K in annual flood insurance premium savings, instantly increasing the NOI.

Property Value Increase:
In addition to the cost savings, the removal of the flood zone designation had a positive impact on the properties' value. Assuming a 6% CAP rate, the properties experienced an estimated $245K increase in property value.

Conclusion:
By leveraging NFE's expertise, the client was able to navigate the LOMA process with ease and achieve substantial financial benefits.

If you are facing similar challenges related to flood insurance, consider engaging with NFE to explore options. NFE's proven track record and specialized flood expertise can help you unlock cost savings and increase the value of your properties.

View Other Case Studies

Image of Multifamily property for 19 of 29 Buildings Removed from SFHA

$365K+ Added in Property Value

19 of 29 Buildings Removed from SFHA - Coral Springs, FL

On a rushed timeline due to an upcoming sale, NFE's flood experts helped the nation's largest multi-family property owner save ≈$22K in annual flood insurance premiums while also adding $365K in property value for a 29-building property in Coral Springs, FL. NFE’s field work and engineering review maximized cost savings and helped the current and future owners avoid costly premium hikes on the horizon.

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 Refinancing Saved, Excess Flood Insurance Mandate Removed, and $1MM+ in Property Value Added for Terre Haute, IN, Multifamily Property

$1MM+ in Added Property Value

Refinancing Saved, Excess Flood Insurance Mandate Removed, and $1MM+ in Property Value Added for Terre Haute, IN, Multifamily Property - Terre Haute , IN

Discover how a multifamily property owner in Terre Haute, IN, maximized refinancing and eliminated the need for excess flood insurance coverage. NFE’s engineering review helped the owners overcome restrictions, increase property value by a staggering $1MM+, and increase NOI by $65,250 annually - all in just under two weeks!