This paper discusses the creation and use of the numerical model for flood assessment in the Nhat Le river basin, Vietnam. In particular, the hydrodynamic model based on Mike Flood has been calibrated and validated with the observed water levels at gauging stations, flood marks, and flood extent derived from Sentinel 1 satellite imagery in the historical flood events of October 2010 and October 2020. The well-validated model was adopted to determine the flood damage risk for the structures and relevant elements located in the basin. The developed mathematical model allows one to assess the flood risk in the Nhat Le river basin, as well as the implementing and planning for individual recovery measures and general shelter. It can also be used to help make decisions like any combination of land use, land-cover types, socio-economic activities, building patterns, and flood control strategies.