Analyzing home in or near a flood zone
I am looking at a few multi-family properties for buy and hold in Clifton, NJ. They are near the Passaic river flood zone based on a few flood maps that I checked.
I don't know if they were affected in the past, but it seems unlikely that they were. On the other hand they are 5-7 streets away from the flood inundation point, and with global warming on the rise I am afraid this will make resale value low should they get affected by floods in the future.
Have you ever considered floods or other natural disasters in your analysis? Or am I being too cautious?