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 Oregon Multifamily Community Increases NOI by $66k Annually

$1.1 MM in Added Property Value

Oregon Multifamily Community Increases NOI by $66k Annually - Eugene, OR

Discover how a Eugene, OR, multifamily property owner increased NOI by more than $66,000 by working with National Flood Experts (NFE)

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

$10K Year-Over-Year Savings

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

Discover how NFE helped a property owner in Texarkana, TX, overcome high flood insurance premiums. Through a comprehensive Flood Expert Survey (FES) and expert analysis, NFE successfully obtained a Letter of Map Amendment (LOMA), resulting in a yearly savings of approximately $10,000 and an increased property value of $167,000. Experience our expertise in flood risk management and effective solutions for tangible benefits.

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.