Case Study

Multifamily

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

Albuquerque, NM

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

$108,000 in Added Property Value

Solutions Found:

Flood Expert Survey

LOMA

Solutions Value: $6,500 in Annual Premium Savings | $108,000+ in Added Property Value

NFE Solution: FES, LOMA

A multifamily property located in Albuquerque, NM, was facing high annual flood insurance costs due to its location within the A-Zone.

During a cold call to the client, the NFE Account Representative discovered that only one of the apartment buildings was barely clipped by the A flood zone and was required by the lender to carry flood insurance on that building, costing the client approximately $6,500 per year. The client was interested in exploring options to reduce or remove the flood insurance expense for the property.

Due to the complex and understudied nature of A-Zones, NFE performed a Flood Expert Survey (FES) to gather building-specific data, accurately assess the situation and explore potential solutions.

After completing the FES, NFE’s engineering team analyzed the data and qualified the building for a Letter of Map Amendment (LOMA). Upon approval by FEMA, the LOMA removed the property from the high-risk flood zone and into an X Zone.

As a result, the client saved approximately $6,500 annually on flood insurance costs and saw an increased property value of over $108,000.

This project highlights the importance of accurate flood zone identification and the significant financial implications it can hold for property owners. Through expert analysis and smart solutions, NFE was able to help the client realize substantial annual savings and significantly increase the value of their property.

View Other Case Studies

Image of Commercial property for National Hotel Portfolio Saves $53K in Premiums

$670K in Added Property Value

National Hotel Portfolio Saves $53K in Premiums - Miami & Marathon, FL

NFE's expertise helped a portfolio of hotels save more than $53K in flood insurance premiums and removed the lender mandates for 15 properties. Qualifying the buildings for Letters of Map Amendments also resulted in ≈ $670K increase in property value (assuming an 8% CAP rate).

Image of Multifamily property for Maximizing Property Value via Letter of Map Amendment

Flood Insurance Mandates Removed

Maximizing Property Value via Letter of Map Amendment - Longview, TX

Discover how a multifamily property investor improved the value and marketability of their flood-zone property through NFE's proactive outreach and innovative solutions. Despite not having a mortgage and lender requirement for flood insurance, the owner understood the benefits of obtaining a LOMA to boost property value and future market appeal.

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.