Case Study

Multifamily

Multifamily Property Adds $75K in Value

Texarkana, AR

Image of Multifamily property for  Multifamily Property Adds $75K in Value

$75K in Added Property Value

Solutions Found:

LOMA

Solutions Value: ≈$75,500 in Added Property Value | ≈$4,500 in Annual Premium Savings

NFE Solution: LOMA

During a cold call to a multifamily property in Texarkana, AR, the National Flood Experts (NFE) Account Representative discovered that the A flood zone clipped the building, and the owner was required by the lender to carry flood insurance, costing the property approximately $4,500 per year. The Client was interested in exploring options to reduce or remove the flood insurance expense for the property.

NFE provided a comprehensive solution to the Client's challenges. First, NFE gathered the relevant documents and performed the complimentary desktop engineering review, which qualified the building for removal from the Special Flood Hazard Area (SFHA) through a Letter of Map Amendment (LOMA).

The NFE team prepared an airtight case and submitted it to the Federal Emergency Management Agency (FEMA) for approval.

Thanks to NFE's efforts, the LOMA was approved, removing the buildings from the high-hazard flood zone and eliminating the lender requirement for flood insurance.

With the LOMA in hand, the Client's lender released the mandate for flood insurance. As a result, the Client's flood insurance expenses decreased by more than $4,500 annually. This reduction improved the property's net operating income (NOI) and increased the property's value by an impressive $75,500, assuming a 6% CAP Rate.

View Other Case Studies

Image of Multifamily property for 17 of 21 Buildings Removed from SFHA

$50K+ in total savings

17 of 21 Buildings Removed from SFHA - Mobile, AL

NFE was successful in qualifying 17 of 21 multifamily buildings in Mobile, AL for removal from the SFHA, resulting in nearly $50K NOI increase for the property owners.

Image of Multifamily property for Multifamily Property in Toms River Successfully Removed from Special Flood Hazard Area (SFHA)

$250,000 in Added Property Value

Multifamily Property in Toms River Successfully Removed from Special Flood Hazard Area (SFHA) - Toms River , NJ

NFE successfully removed a multifamily property in Toms River from the Special Flood Hazard Area (SFHA). A Flood Expert Survey (FES) qualified all 5 buildings for a Letter of Map Amendment (LOMA). These solutions elimated$15,000 in annual insurance costs and added a remarkable $250,000 in property value.

Image of Multifamily property for Houston Multifamily Property Saves Over $31K in Premiums

$500,000 in Added Property Value

Houston Multifamily Property Saves Over $31K in Premiums - Houston, TX

Learn how NFE's Flood Expert Survey helped a multifamily property in Houston, FL achieve LOMA compliance, remove additional buildings from the flood zone, save over $31k in flood insurance premiums, and increase property value by $500k.