Insurance on first property

3 Replies

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?
@Christopher Short in my area it doesnt affect rent at all. It does affect home prices, but only on lower end properties. I am closing on a rental SFR in a 100 year flood zone in 2 weeks. I'm paying about $700/yr in flood insurance.