Real Estate Investing in Alpine, Wyoming (83128)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 83128 (Alpine, WY)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 22.2% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 46.9 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Alpine, WY (83128)?
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Market Analysis: 83128 Alpine
The 83128 ZIP in Alpine, WY is a local-operator market. Outside capital chasing a $719K entry has to pair deep knowledge with the discount.
Rent of $1,278/mo on a $719K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 83128 sits below the stated 0.0% once reality is priced in.
Meanwhile, 83128 offers a low basis, the region around Alpine has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Resident income in 83128 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 83128 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Alpine:
Market Trends
Home Value History (with trend line)
📊 How Does 83128 Compare?
| Metric | 83128 | Alpine | Wyoming |
|---|---|---|---|
| Home Value | $719,017 | $719,017 | $359,462 |
| 5-Year CAGR | N/A | N/A | 6.2% |
| Avg Rent | $1,278 | $1,278 | - |
| Cap Rate | 1.4% | 1.4% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 83128 (Alpine, WY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $719,017 |
| Monthly Rent | $1,278 |
| Price-to-Rent | 46.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.1% |
| Cap Rate | 1.4% |
| 5-Year IRR | 2.4% |
📈 Home Appreciation
| 1-Year | -1.6% ▼ |
| 3-Year CAGR | +1.0% ▲ |
| 5-Year CAGR | N/A |
| 10-Year CAGR | N/A |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 83128
Population: 1,973
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
Frequently Asked Questions
How should investors approach Alpine, WY?
Most investors in Alpine, WY run a careful cash-flow rentals with hands-on management strategy. It aligns with the 2.0/5 investability profile and the market fundamentals.
How do landlord-tenant laws work in Alpine, WY?
WY ranks as a landlord-friendly state for landlord-tenant law. Alpine generally follows the statewide framework, so landlords face reasonable operating rules.
Is vacancy a concern in Alpine, WY?
Rental vacancy in Alpine, WY is elevated. Investors should budget normal turnover but not chronic empty units.
Is Alpine, WY suited for a house hack?
For house hackers, Alpine, WY is a challenging. The $1,278/mo rent on a unit helps defray the mortgage on a $719K property.
How strong is tenant demand in Alpine, WY?
Working renters make up the core of the Alpine, WY tenant base. The pool is reasonable for investors targeting long-term holds.
You know 83128 now. You don’t know where it ranks.
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