Nestled in Portland's up-and-coming East Deering neighborhood, this established two-unit multi-family home is a hidden gem brimming with potential. Whether you're an investor seeking strong rental income or a homeowner looking to offset your mortgage, this property offers the perfect canvas to bring your vision to life. This versatile property features a 2-bedroom, 1-bath first-floor unit, and a 2-bedroom, 1-bath second-floor unit with a flexible layout that could easily support a third bedroom, increasing your rental income potential. Each unit is separately metered for electricity and equipped with its own oil-fired furnace and natural gas hot water heater, offering autonomy and efficiency for tenants or owner-occupants. Situated on a .19-acre lot in the RN3 zone, this property presents potential for expansion—whether through adding an additional unit, increasing the existing footprint, or enhancing the outdoor living space.The spacious private backyard is an uncommon perk in this neighborhood, making it attractive to renters or ideal for owner enjoyment. Location is a major draw—quick access to I-295, Downtown Portland, local colleges, walking trails, and community parks ensures strong appeal to both tenants and future buyers. Lovingly maintained and owner-occupied for decades, this property is now on the market for the first time. With strong rental upside and value-add potential through cosmetic updates, this is a rare opportunity to build equity and cash flow in one of Portland's most promising neighborhoods.