classic 1925 bungalow charm meets dependable income potential in this thoughtfully maintained duplex in the dalles. currently configured as two units, the upper level offers a spacious 2-bedroom, 1-bath residence, while the lower level provides a comfortable 1-bedroom, 1-bath unit with separate living quarters in a finished basement space. whether you continue operating as a duplex or explore conversion to a single-family home with an attached adu, the flexibility here is exceptional.situated on a 5,000′6,999 sq ft lot in the dry hollow neighborhood, the property features territorial views, terraced landscaping, mature trees, and a charming pond that creates a peaceful outdoor setting. driveway and on-street parking add convenience, while public water and sewer simplify ownership.key system updates include a newer composition roof (approximately five years old) and an efficient heat pump providing both heating and cooling . the home is in solid, good condition ′ well cared for and functional ′ offering opportunity for cosmetic refinement over time without immediate major capital improvements.financially, this is a compelling small multifamily asset. the property generates $36,000 annually in gross income with a reported net operating income of $27,220 and a 6.82% cap rate at the current price tenants are month-to-month, allowing immediate income with flexibility for repositioning, owner occupancy, or rent optimization.properties of this scale remain highly desirable for investors seeking manageable, two-stream income, as well as buyers looking to offset a mortgage with rental revenue. character, versatility, and solid numbers combine here to create a property that feels approachable yet strategic ′ a rare balance in today′s market.
