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A twin-size pine daybed with three side guardrails, sold as a frame with slats included. The three-sided rail design lets it sit against a wall as a sofa by day and a bed by night, and the slats mean you don't need a box spring. Pine is a soft, light wood, so expect a lower price than oak or hardwood frames and more susceptibility to dents. It is a straightforward budget frame rather than a statement piece.
Lowest price we've seen: $263.99 on Nov 2 at Wayfair. Tracked across 1 store since Nov 2.