Hello, I'm thinking about buying a townhome in Shady Acres, on 24th Street. I'm impressed with the neighborhood, and with all the new construction there should be a lot of potential in the next few years. However, the townhome is in the 100-year floodplain. It is brand new, so it is built to the new codes. The main living level is raised above the driveway; only the garage is on the ground. In addition, there is a drain in the driveway to keep flood waters out. I have verified that the flood insurance for this property is discounted significantly to $437/yr since the property is properly elevated. Here's are my questions: Do the streets flood in that area? How did they hold up during the recent Tropical Storm Erin? Will being on a floodplain adversely affect the property's value in the future, even though it should be mostly OK in the event of a flood? Thanks a lot!
