For towns and organizations worldwide, managing flood risk is a crucial concern. A successful flood risk management strategy must include accurate flood hazard mapping, vulnerability assessment, and quantification of probable flood impacts. To determine the risk of the study region and places more vulnerable to flooding, is necessary to evaluate the flood hazard in the study area. Sylhet, a major city in Bangladesh, is highly vulnerable to flooding due to its low-lying topography and its location in the Brahmaputra River basin. Floods in Sylhet can cause significant damage to property and infrastructure and displace thousands of people. Earth observation (EO) techniques can be used to assess flood risk impacts in Sylhet in several ways. EO data can also be used to develop flood forecasting models and to monitor flood events in real-time. This study presents a methodology for assessing flood risk impacts in Sylhet using EO techniques. The methodology is based on the integration of satellite imagery, flood forecasting models, and ground-based data. From this study, flood impacts and loss scenarios based on loss and impact databases from the past can also be created, which strengthens the defenses of the exposed areas and is helpful for the future.