Case Study

Multifamily

Multifamily Property Increases NOI by $10K

Overland Park, KS

Image of Multifamily property for Multifamily Property Increases NOI by $10K

$166,000 in Added Property Value

Solutions Found:

LOMA

Solutions Value: ≈$166,000 in Added Property Value | ≈$10,000 NOI Increase

NFE Solution: LOMA

An Overland Park, KS, multifamily property owner felt the strain of rising flood insurance premiums, and their insurance broker was determined to help them find relief. Having experienced many successful past projects with us, the broker introduced the Client to our services.

NFE got to work immediately to provide a comprehensive solution to the Client's challenges. First, NFE gathered the relevant documents and performed the complimentary desktop engineering review, qualifying both buildings for removal from the Special Flood Hazard Area (SFHA) through a Letter of Map Amendment (LOMA).

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

The LOMA was approved thanks to NFE's efforts, removing the building(s) 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 nearly $10,000 annually. This reduction improved the property's net operating income (NOI) and increased the property's value by an impressive $166,000, assuming a 6% CAP Rate.

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 Excess Flood Insurance Requirement Eliminated for DE Multifamily Property

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 $50K+ in Flood Insurance Mandates Removed for Multifamily Property

$1.2MM in Added Property Value

$50K+ in Flood Insurance Mandates Removed for Multifamily Property - Fort Myers, FL

Read about National Flood Experts' success in helping a multifamily property owner in Ft. Myers, FL, remove all buildings from the flood zone through Letter of Map Amendment (LOMA). NFE's solutions improved the property value by $1.2M and removed over $50,000 in lender mandates. Discover how NFE's innovative approach and expertise can help you identify flood insurance cost savings.