1514 E 14th St, The Dalles

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 featuring brand-new carpet. 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.