Case Study

Multifamily

OH A-Zone Property Saves $48K In Annual Premiums

Lebanon, OH

Image of Multifamily property for OH A-Zone Property Saves $48K In Annual Premiums

≈$814K in Property Value Added

Solutions Found:

Flood Expert Survey

LOMA

Solutions Value: ≈$814,000 in Added Property Value | ≈$48,000 in Annual Premium Savings

NFE Solution: LOMA; FES

Based on past successful projects and area data, NFE's in-house research team pre-qualified several of the Client's properties as having a high likelihood of cost-saving solutions. NFE contacted company leadership to share more information about our services and what we thought may be possible for their properties, and the Client was interested in exploring what solutions might be available.

For this Lebanon, OH, multifamily property with four buildings impacted by the Special Flood Hazard Area (SFHA), NFE got to work immediately. NFE's engineering team performed the initial desktop review, which confirmed the high likelihood that the four A-Zone buildings would qualify for removal from the SFHA through a Letter of Map Amendment (LOMA). Due to the complex and understudied nature of A-Zones and to fully confirm the solution, additional property-specific data was required. The Client agreed to have NFE perform a Flood Expert Survey (FES) of the property. NFE's in-house Field Experts visited the property and meticulously gathered all required data. After an exhaustive review of the new data, NFE's engineers qualified all four buildings for a LOMA.

Upon approval by FEMA, the LOMA removed the buildings from the SFHA and into an X Zone. 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 $48,000 annually. This reduction improved the property's net operating income (NOI) and increased the property's value by approximately $814,000, assuming a 6% CAP Rate.

View Other Case Studies

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 Industrial property for Flooring Showroom Saves Nearly $9K in Premiums

$9,000 in Premium Savings

Flooring Showroom Saves Nearly $9K in Premiums - Fort Myers, FL

NFE's field work and engineering expertise, led to significant cost savings for a wood flooring companies' Fort Myers, FL location, adding major value to their property. Read more to explore NFE's cost-saving solutions for your properties in flood zones.

Image of Multifamily property for Affordable Housing Community Wins Big

≈$137K in Property Value Added

Affordable Housing Community Wins Big - Brewster, MA

Learn how National Flood Experts helped a property management client increase the value of their multifamily affordable housing property in Brewster, MA, by nearly $137,000. Through NFE’s comprehensive engineering review, three buildings were successfully removed from the high-risk “A” flood zone, eliminating the lender mandate for flood insurance and decreasing annual expenses by $8,000+ while increasing property value.