Active

$2,500,000

4698 Wallace Rd NW, Salem, OR 97304

4beds

7baths

5,795sqft

Est.: Get pre-qualified

Single Family Residence

Built in 1998

19.05 Acres Lot

$-- Zestimate^®

$431/sqft

$-- HOA

What's special

Riverfront propertyCozy fireplaceLush acreageGeorgian-style homePrivate beachBreathtaking viewsFormal dining room

Rare Riverfront Property - Welcome to River Cove Farm! Nestled in the heart of Willamette Valley wine country & just minutes from downtown Salem, this one-of-a-kind estate offers a rare blend of lush acreage, Willamette River frontage, & breathtaking views. A gated entry opens to a long, paved driveway leading to this gorgeous Georgian-style home, which exudes elegance throughout. Spanning 19.05 acres, the property also has a cottage, barn, pastures, fruit trees, private beach & cove! The main level primary suite features a cozy fireplace and ensuite bathroom, ensuring comfort and luxury. A library with built-ins and a majestic living room provide stunning views. The elegant kitchen and formal dining room are perfect for hosting memorable gatherings. The expansive game/recreation room includes a kitchenette and full bathroom, ideal for entertaining guests. Enjoy the tranquility of the Willamette River frontage, complete with a private beach and a cove for boat tie-up.

250 days

759

38

Tour with a local agent

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 4
Bathrooms: 7

Heating

Electric, Heat Pump, Hot Water, Solar

Cooling

Heat Pump

Features

Kitchen Island, Linen Closet, Pantry, Primary Downstairs, Soaking Tub, Walk-In Closet(s)
Flooring: Carpet, Hardwood, Laminate, Tile
Has fireplace: Yes
Fireplace features: Propane, Wood Burning
Common walls with other units/homes: No Common Walls

Interior area

Total structure area: 4,675
Total interior livable area: 5,795 sqft

Video & virtual tour

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Property

Parking

Total spaces: 2
Parking features: Concrete, Driveway, Gated
Garage spaces: 2
Has uncovered spaces: Yes

Features

Levels: Two
Stories: 2
Patio & porch: Covered, Patio, Rear Porch
Has view: Yes
View description: River
Has water view: Yes
Water view: River
Waterfront features: River Front

Lot

Size: 19.05 Acres
Features: Garden, Landscaped, Pasture, Sloped

Details

Additional structures: Barn(s), Guest House, Poultry Coop
Parcel number: 266024
Zoning description: EFU
Special conditions: Standard

Construction

Type & style

Home type: SingleFamily
Architectural style: Colonial
Property subtype: Single Family Residence

Materials

Foundation: Stemwall
Roof: Composition

Condition

New construction: No
Year built: 1998

Utilities & green energy

Sewer: Septic Tank
Water: Well

Community & HOA

HOA

Has HOA: No

Location

Region: Salem

Financial & listing details

Price per square foot: $431/sqft
Tax assessed value: $955,500
Annual tax amount: $9,043
Date on market: 9/23/2025
Cumulative days on market: 289 days
Listing terms: Cash,Conventional
Road surface type: Paved

Estimated market value

Not available

Estimated sales range

Not available

$4,426/mo

Price history

Date	Event	Price
5/1/2025	Listed for sale	$2,500,000+112.8%$431/sqft
Source: WVMLS #828382 Report a problem
10/22/2012	Sold	$1,175,000-7.8%$203/sqft
Source: Agent Provided Report a problem
3/21/2012	Listed for sale	$1,275,000$220/sqft
Source: Coldwell Banker Mountain West Real Estate, Inc. #650408 Report a problem
11/30/2011	Listing removed	$1,275,000$220/sqft
Source: Coldwell Banker Mountain West Real Estate, Inc. #640163 Report a problem
6/4/2011	Listed for sale	$1,275,000$220/sqft
Source: Coldwell Banker Mountain West Real Estate, Inc. #640163 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2020	$7,810 +3.9%	$690,200 +3%
2019	$7,518	$670,100 +3%
2018	$7,518 +1.8%	$650,590 +3%
2017	$7,383 +15.6%	$631,650 +3%
2016	$6,389 +0.6%	$613,260 +3%
2015	$6,350 -3.3%	$595,400 +3%
2014	$6,564 +11.5%	$578,060 +6.3%
2013	$5,885 +2.5%	$543,590 +3%
2012	$5,739 +9.6%	$527,760 +7%
2011	$5,237 +5.3%	$493,220 +3%
2010	$4,973 +0.5%	$478,860 +3%
2009	$4,947 +4.1%	$464,920 +3%
2008	$4,753 +3%	$451,380 +3%
2007	$4,614 +4.9%	$438,240 +3%
2006	$4,399 +0.9%	$425,480 +3%
2005	$4,358 -1.9%	$413,090 +3%
2004	$4,441 +11%	$401,080 +6.1%
2002	$4,002 +1.8%	$378,060 +3%
2001	$3,930 +3.7%	$367,050 +3%
2000	$3,790	$356,360

Find assessor info on the county website

Monthly payment

Est. payment

Payment breakdown

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All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.

HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.

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Climate risks

Neighborhood: 97304

Getting around

0 / 100

Car-Dependent

0 / 100

No Nearby Transit

32 / 100

Somewhat Bikeable

Nearby schools

GreatSchools rating

7/10
Brush College Elementary School
Grades: K-5Distance: 2.1 mi
3/10
Straub Middle School
Grades: 6-8Distance: 2.8 mi
6/10
West Salem High School
Grades: 9-12Distance: 3 mi

Schools provided by the listing agent

Elementary: Brush College Elem
Middle: Straub Middle
High: West Salem High

Source: Oregon Datashare. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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