Updated about 7 years ago on . Most recent reply
Insurance on first property
Recently been looking into fourplexes. One of the homes I’ve been looking at stated, “Note: a small portion of one corner of property lies in 100-year flood plain. Have appraiser confirm, this designation may have expired.”
Was wondering if anyone has had experience with rental properties in flood zones? I am especially curious about how it may affect rents and home sale values. Also, what is the general cost of flood insurance for multi family properties?
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@Christopher Short. If your lender requires flood insurance that’ll cost thousands per year