Meet the OXO Convertible Foldaway Dish Rack: a versatile solution with a plate rack that folds down to accommodate larger bowls. It has fold out legs for draining directly into your sink. This versatile dish rack also comes with divided utensil holders and tines to hold cups and wine glasses.
This item comes with removable and dishwasher safe parts. You can get it for under $40 at this time.