This paper has developed a cost-efficient framework for flood vulnerability assessment at a local scale using a multi-parametric approach integrated with the Open Source Geographical Information System (GIS) and Open Remote Sensing data. The study focuses on generating a set of criteria considering three dimensions of flood vulnerability: exposure, sensitivity, and adaptive capacity (AC) on an index-based approach. These indicators were decided based on a robust analysis considering the physical and socio-economic conditions of the study area. The flood exposure was generated from the geomorphological and hydrological parameters integrated with the flood water depth, the distance to river channels, and the Modified Normalized Difference Water Index. The flood sensitivity was determined by the aggregation of local income, land use, poverty index, population density, and other parameters reflecting the socio-economic condition. The AC has been evaluated based on the Normalized Difference Vegetation Index, the density of the community service facilities, and other factors related to the coping capacity to flood. Finally, the flood vulnerability at the local scale was determined based on the integration of its contributing factors using the Analytical Hierarchical Process-based aggregated model. Results indicated that a total of 20 parameters impacted the flood vulnerability of the research area. The findings also confirmed that among the indicators of flood vulnerability of Da Nang City, the flood depth, land-use condition, and drainage system are the key factors affecting the vulnerability level. The empirical assessment showed that the study area is significantly affected by flood vulnerability with more than 60% of the area having the vulnerability level from moderate to very high. In addition, this paper points out that the vulnerability research should be localized and is not always based on the administrative units. This practice can make the decision-making process and adaptation plan more appropriate locally. Especially, this study attempted to evaluate the accuracy of the flood vulnerability map for the first time by using field survey data and the statistical report on flood damage that most of the previous studies have not conducted yet. This framework provides a valuable toolkit for flood management in data-scarce regions all over the world.