Neighborhood
Mirror Lake
Federal Way, Washington US
Mirror Lake in Federal Way, Washington is a lower-yield market with prices about 3% below the city median and 12% below the state median. It shows a gross yield of 3.7, while prices fell 6.1% over the past year, pointing to weaker recent momentum. The main strength is walkability of 82, while the Red Flag score is 51 and education is in the 33rd percentile.
AI Summary•Updated May 2026
Area
2.64 mi²
ZIP Code
98023
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
$642,309
YoY-6.1%
Gross Rental Yield
3.7%
Listed rent · ZORI annualized
Red Flag Index
Moderate
51 / 100
Walkability Score
82
OpenStreetMap POI density · national percentile
Education Score
33 / 100
Pre-pandemic SEDA (2018/19) · district proxy
AI Score
45
DistrictScore attractiveness · national model
Mirror Lake Property Prices & Rental Yield
Verified Redfin sale data and Zillow ZORI asking rent for Mirror Lake, Federal Way.
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Sign in to view — freeMarket Economics Snapshot
May 2026| Metric | Value | YoY |
|---|---|---|
| Median Sale Price | $642,309 | -6.1% |
| Price / Sq Ft (Verified) | $311/sqft | -6.0% |
| Asking Rent (Median) | $1,983/mo | -1.3% |
| Gross Rental Yield | 3.7% | — |
| Liquidity Score | 35 / 100 | Moderate |
| Homes Sold (Period) | 117 | -18.8% |
Is Mirror Lake Safe? Natural-Hazard Risk
FEMA National Risk Index composite across eight hazards, plus inherited Washington crime context.
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Sign in to view — free What Stands Out AI Insight
Highly walkable neighborhood — score 82/100
Active transaction volume — 117 homes sold last period
Dense amenities — 86 dining & 17 grocery options nearby
Earthquake risk is Very High (100/100)
Insights are generated from Mirror Lake's live DistrictScore metrics.
Mirror Lake 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 UCR20132024
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; Mirror Lake inherits the Washington figures.
Radon Potential
EPAZone 3
Zone 3 — Lowest potential · Mirror Lake
EPA radon zones estimate indoor radon potential county-wide (Zone 1 highest, Zone 3 lowest). Testing is recommended in all zones.
Environmental Hazards
EPA / BTSSuperfund (NPL)4.6 kmModerate
Industrial odor1 nearbyModerate
Aviation noise47 dBVery Low
Point-source screening near Mirror Lake: 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 Mirror Lake
Amenity density and pedestrian access from OpenStreetMap points of interest.
Walkability & Amenities
OpenStreetMap POI82
Very Walkable
Walkability Score
17
Grocery
86
Dining
9
Schools
1
Universities
10
Hospitals
4
Pharmacies
12
Parks
0
Rail Transit
0
Coworking
POI counts are amenities within Mirror Lake's boundary plus a 400 m walk buffer. Rail transit excludes bus stops.
Mirror Lake vs Federal Way vs Washington
How Mirror Lake benchmarks against its city and state medians.
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Sign in to view — freeBuying 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 & OwnershipApplies 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
Mirror Lake Real Estate FAQ
Mirror Lake in Federal Way, Washington has a mixed profile. Prices are about 3% below the city median and 12% below the state median, gross yield is 3.7, and prices fell 6.1% over the past year. The Red Flag score is 51, with walkability at 82.
Neighborhoods near Mirror Lake
Compare Mirror Lake with nearby neighborhoods in Federal Way.
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