What is the rental yield in Carey Place, Covington, Washington?

The gross yield in Carey Place, Covington, Washington is 3.8%. That sits alongside pricing about 4% below the state median, prices down over the past year by -4.3%, and a Red Flag score of 60.

How has Carey Place, Covington, Washington performed over the past year?

Carey Place, Covington, Washington is down over the past year by -4.3%. Pricing is in line with the city and about 4% below the state median, gross yield is 3.8%, and the Red Flag score is 60.

How walkable is Carey Place, Covington, Washington?

Carey Place, Covington, Washington has a walkability of 74. Education is in the 57th percentile, gross yield is 3.8%, and the Red Flag score is 60, while prices were down over the past year by -4.3%.

How does Carey Place, Covington, Washington compare to Washington?

Carey Place, Covington, Washington is priced about 4% below the Washington median while staying in line with Covington. Gross yield is 3.8%, prices were down over the past year by -4.3%, and the Red Flag score is 60.

Neighborhood

Carey Place

Covington, Washington US

Carey Place, Covington, Washington has a value-oriented profile with pricing in line with the city and about 4% below the state median, a gross yield of 3.8%, and prices down over the past year by -4.3%. It combines walkability of 74 and education in the 57th percentile with a Red Flag score of 60, giving it stronger accessibility and income yield than its recent price trend suggests.

AI Summary•Updated May 2026

Area

0.01 mi²

ZIP Code

98042

County

King County

State

Washington

Redfin — median sale & volumeZillow ZORI — asking rentFEMA National Risk Index v1.20OpenStreetMap — POIFBI UCR — state crimeEPA — radon zonesEPA FRS / BTS — hazard screeningUS Census ACS / TIGER 2024

Verified Price · Median Sale

$749,777

YoY-4.3%

Gross Rental Yield

3.8%

Listed rent · ZORI annualized

Red Flag Index

High

60 / 100

Walkability Score

Very Walkable

OpenStreetMap POI density · national percentile

Education Score

57 / 100

Good · better than 57% of U.S. districts

Pre-pandemic SEDA (2018/19) · district proxy

AI Score

Fair

DistrictScore attractiveness · national model

Carey Place Property Prices & Rental Yield

Verified Redfin sale data and Zillow ZORI asking rent for Carey Place, Covington.

Unlock the Carey Place 12-month price trend

See the full Verified vs Listed price history — free with a DistrictScore account.

Market Economics Snapshot

May 2026

Metric	Value	YoY
Median Sale Price	$749,777	-4.3%
Price / Sq Ft (Verified)	$339/sqft	-3.3%
Asking Rent (Median)	$2,345/mo	-0.9%
Gross Rental Yield	3.8%	—
Liquidity Score	40 / 100	Moderate
Homes Sold (Period)	152	+1.3%

Is Carey Place Safe? Natural-Hazard Risk

FEMA National Risk Index composite across eight hazards, plus inherited Washington crime context.

Red Flag Breakdown

60 / 100

High Risk

Composite is weighted by expected impact — frequent low-damage hazards (hail, wind) weigh less than flood or wildfire.

Earthquake100Very High

Flood80Very High

Wildfire60High

Heat60High

Tornado20Low

Strong Wind20Low

Hail20Low

Hurricanen/an/a

7/8 hazards scored · FEMA NRI v1.20

Crime (state-level): Washington averaged 27.9 crimes and 3.3 violent per 1,000 residents (-13.0% YoY) in 2024(FBI UCR). Compare the state to the country, not states as a ranking — full Safety & Crime data lives on the state page.

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Tract-level hazard heatmap & parcel detail with Pro

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See all eight FEMA hazard scores — free with a DistrictScore account.

What Stands Out AI Insight

Highly walkable neighborhood — score 74/100

Active transaction volume — 152 homes sold last period

Earthquake risk is Very High (100/100)

Flood risk is Very High (80/100)

Insights are generated from Carey Place's live DistrictScore metrics.

Carey Place Environment & Safety

Satellite PM2.5 air-quality history, FBI UCR crime trend (Washington-level, the finest official aggregation), EPA radon potential and point-source hazard screening.

Washington Crime Trend

FBI UCR

20132024

All crimes / 1k

Violent / 1k

Year	Crimes / 1k	Violent / 1k	YoY
2024	27.9	3.3	-13.0%
2023	32.5	3.6	-12.5%
2022	37.5	3.8	+11.9%
2021	33.7	3.4	+12.1%
2020	30.3	2.9	+0.9%
2019	30.3	3.0	—

Reported at the state level — the finest official US crime aggregation; Carey Place inherits the Washington figures.

Radon Potential

EPA

Zone 3

Zone 3 — Lowest potential · Carey Place

EPA radon zones estimate indoor radon potential county-wide (Zone 1 highest, Zone 3 lowest). Testing is recommended in all zones.

Environmental Hazards

EPA / BTS

Industrial odor1 nearbyModerate

Point-source screening near Carey Place: EPA Superfund National Priorities List & Facility Registry (2026), BTS aviation noise (2020, 24-hour average level). Superfund shows distance to the nearest listed site; odor shows detected sources within the screening radius. Only detected sources are listed; the bar shows severity vs. all U.S. neighborhoods.

Walkability & Amenities in Carey Place

Amenity density and pedestrian access from OpenStreetMap points of interest.

Walkability & Amenities

OpenStreetMap POI

74

Very Walkable

Walkability Score

0

Grocery

0

Dining

1

Schools

0

Universities

0

Hospitals

0

Pharmacies

2

Parks

0

Rail Transit

0

Coworking

POI counts are amenities within Carey Place's boundary plus a 400 m walk buffer. Rail transit excludes bus stops.

Carey Place vs Covington vs Washington

How Carey Place benchmarks against its city and state medians.

Benchmark vs City & State

In Carey Place, the median sale price sits in line with the median for Covington neighborhoods and about 4% below the statewide median. Gross rental yield is 3.8%, against 3.8% for Covington neighborhoods and 4.0% statewide. Over the past 12 months, prices fell 4.3%. Transaction liquidity sits in line with the median for Covington neighborhoods and above the statewide median.

Area	Median / Sq Ft	Gross Yield	Liquidity
Carey Place	$339/sqft	3.8%	40
Covington	$339/sqft	3.8%	40
Washington	$352/sqft	4.0%	32

Unlock the Carey Place benchmark

Compare Carey Place against Covington and Washington medians — free with a DistrictScore account.

Buying Property in the US as a Foreigner

Federal & Washington tax facts for non-resident buyers, plus the latest local market news.

Buying as a Foreigner

US Tax & Ownership

Applies to everyone7

Capital Gains (Federal)

Long-term capital gains taxed federally at 0/15/20%, plus a 3.8% Net Investment Income Tax on higher incomes (2026).

Property Tax

Property tax: ~0.74% average effective rate (statewide average; set and collected locally).

State Income Tax

No state income tax — rental income is not taxed at the state level.

State Capital Gains

No general income tax; the 7% capital gains tax exempts real estate.

Transfer Tax

Real estate transfer tax: REET graduated 1.1-3% (mansion-style).

Assessment Cap

No Proposition 13-style assessment cap; property is reassessed at market value.

Mansion Tax / Rent Control

Statewide rent control caps rent increases (HB 1217; 9.683% max for 2026); transfer tax is mansion-style.

US citizens & tax residents6

Primary-Home Exclusion

Selling your main home: exclude up to $250k of gain (single) / $500k (married) if you owned and lived there 2 of the last 5 years.

1031 Like-Kind Exchange

A 1031 like-kind exchange defers capital gains tax on investment property; 45 days to identify, 180 to close. Real estate only.

Depreciation Recapture

Residential rentals depreciate over 27.5 years; on sale, recaptured depreciation is taxed up to 25% (Section 1250).

Mortgage Interest Deduction

Mortgage interest is deductible on up to $750k of home debt. The SALT cap rose to $40,000 for 2025-2029 (reverts to $10k in 2030).

Opportunity Zones

Opportunity Zones are now permanent (2025): reinvested capital gains get deferral plus a basis step-up, and are tax-free after 10 years.

Rental Income (Resident)

Rental income is reported on Schedule E; passive-loss rules (Section 469) limit deducting rental losses against other income.

Foreign buyers (non-residents)5

FIRPTA (Foreign Sellers)

FIRPTA: the buyer withholds 15% of the gross sale price when a nonresident sells US property. It is an advance deposit, not the final tax.

Non-Resident Capital Gains

Nonresident sellers pay US capital gains tax (generally 15-20%) on the net gain via Form 1040-NR; FIRPTA withholding is credited.

Non-Resident Rental Tax

Nonresident rental income is taxed at 30% of gross by default, or on net income at graduated rates via a Section 871(d) election (W-8ECI).

Estate Tax (Non-Resident)

Nonresidents get only a $60,000 US estate-tax exemption (vs $13.99M for residents); US property above it is taxed up to 40%. Treaties may help.

ITIN Requirement

Nonresidents without an SSN need an ITIN (Form W-7) to file US tax returns, claim FIRPTA refunds, and report rental income.

Talk to a US real-estate tax advisor

FIRPTA, ITIN & Washington property-tax guidance for foreign buyers

Latest Covington Real-Estate News

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Guaranteed Rate • Jun 18, 2026

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Eye On Housing • Jun 18, 2026

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Altus Group • Jun 18, 2026

Carey Place Real Estate FAQ

Carey Place, Covington, Washington shows a balanced profile. Pricing is in line with the city and about 4% below the state median, gross yield is 3.8%, and prices fell over the past year by -4.3%. The Red Flag score is 60.

Neighborhoods near Carey Place

Compare Carey Place with nearby neighborhoods in Covington.

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