What is the rental yield in Cornerstone, Covington, Washington?

The gross yield in Cornerstone, Covington, Washington is 3.8. That sits alongside prices that are in line with Covington and about 4% below Washington, plus a 4.3% decline over the past year. The Red Flag score is 60, with walkability of 66.

How does Cornerstone, Covington, Washington compare with Covington and Washington?

Cornerstone, Covington, Washington is priced in line with Covington and about 4% below Washington. Gross yield is 3.8, prices are down 4.3% over the past year, and the Red Flag score is 60. Walkability is 66 and education is in the 57th percentile.

Neighborhood

Cornerstone

Covington, Washington US

Cornerstone, Covington, Washington is a mixed investment profile with gross yield of 3.8 and prices in line with Covington but about 4% below Washington. Prices have moved down 4.3% over the past year, while the neighborhood posts a Red Flag score of 60, walkability of 66, and education in the 57th percentile. The main strength is its moderate walkability; the main risk is the moderate Red Flag score and the recent price decline.

AI Summary•Updated May 2026

Area

0.02 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

Somewhat 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

Cornerstone Property Prices & Rental Yield

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

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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 Cornerstone 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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What Stands Out AI Insight

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 Cornerstone's live DistrictScore metrics.

Cornerstone 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; Cornerstone inherits the Washington figures.

Radon Potential

EPA

Zone 3

Zone 3 — Lowest potential · Cornerstone

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 Cornerstone: 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 Cornerstone

Amenity density and pedestrian access from OpenStreetMap points of interest.

Walkability & Amenities

OpenStreetMap POI

66

Somewhat 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 Cornerstone's boundary plus a 400 m walk buffer. Rail transit excludes bus stops.

Cornerstone vs Covington vs Washington

How Cornerstone benchmarks against its city and state medians.

Benchmark vs City & State

In Cornerstone, 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
Cornerstone	$339/sqft	3.8%	40
Covington	$339/sqft	3.8%	40
Washington	$352/sqft	4.0%	32

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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

New Fed chairman may leave mortgage rates mostly unchanged

Guaranteed Rate • Jun 18, 2026

Household real estate wealth hits record $48.7 trillion

Eye On Housing • Jun 18, 2026

U.S. commercial property prices hit record as deal patterns shift

Altus Group • Jun 18, 2026

Cornerstone Real Estate FAQ

Cornerstone, Covington, Washington presents a mixed profile. Gross yield is 3.8, prices are in line with Covington and about 4% below Washington, and values have fallen 4.3% over the past year. The Red Flag score is 60, with walkability of 66 and education in the 57th percentile.

Neighborhoods near Cornerstone

Compare Cornerstone with nearby neighborhoods in Covington.

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