Sold for $2,136,400

Listed by: Blum Real Estate • GLADYS BLUM • Contact: Direc: 503-485-1900

Bought with: Non-Member Sale

$2,136,400

4698 Wallace Rd NW, Salem, OR 97304

4beds

4,675sqft

Single Family Residence

Built in 1998

19.05 Acres Lot

$-- Zestimate^®

$457/sqft

$-- Estimated rent

Home value

Not available

Estimated sales range

Not available

Zestimate^® history

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What's special

Rare Riverfront Estate in the Heart of Wine Country...Welcome to River Cove Farm! Truly a one-of-a-kind riverfront estate in the Willamette Valley wine country, just minutes from downtown Salem. Set on 19.05 lush acres with Willamette River frontage and a private cove for boat tie-up, this gated property offers abundant privacy and natural beauty. Flexible living areas throughout the property are well-suited for remote work, multi-generational living, or simply spreading out in comfort.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 4
Bathrooms: 7
Full bathrooms: 5
1/2 bathrooms: 2

Primary bedroom

Level: Main
Area: 351.45
Dimensions: 21.3 x 16.5

Bedroom 2

Level: Upper
Area: 211.64
Dimensions: 14.8 x 14.3

Bedroom 3

Level: Main
Area: 252
Dimensions: 18 x 14

Bedroom 4

Level: Main
Area: 266
Dimensions: 19 x 14

Dining room

Features: Area (Combination), Formal
Level: Main
Area: 218.68
Dimensions: 15.4 x 14.2

Family room

Level: Main
Area: 414.7
Dimensions: 29 x 14.3

Kitchen

Level: Main
Area: 308
Dimensions: 22 x 14

Living room

Level: Main
Area: 686.76
Dimensions: 35.4 x 19.4

Heating

Electric, Solar, Heat Pump, Hot Water

Appliances

Included: Dishwasher, Disposal, Built-In Range, Convection Oven, Electric Range, Gas Range, Microwave, Electric Water Heater
Laundry: Main Level

Features

Mudroom, Office, Rec Room
Flooring: Carpet, Laminate, Tile, Wood
Has fireplace: Yes
Fireplace features: Living Room, Other Room, Propane, Wood Burning

Interior area

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

Property

Parking

Total spaces: 2
Parking features: Attached
Attached garage spaces: 2

Accessibility

Accessibility features: Handicap Amenities - See Remarks

Features

Levels: Two
Stories: 2
Patio & porch: Covered Deck, Covered Patio, Deck, Patio
Fencing: Fenced
Has view: Yes
View description: Mountain(s), Territorial
Has water view: Yes
Waterfront features: Waterfront

Lot

Size: 19.05 Acres
Features: Irregular Lot, Landscaped

Details

Additional structures: Barn(s), See Remarks, Workshop, Shed(s), RV/Boat Storage
Parcel number: 266024.000000000000000
Zoning: EFU

Construction

Type & style

Home type: SingleFamily
Property subtype: Single Family Residence

Materials

Cedar, Lap Siding
Foundation: Continuous
Roof: Composition

Condition

New construction: No
Year built: 1998

Utilities & green energy

Electric: 1/Main
Sewer: Septic Tank
Water: Well

Community & HOA

Community

Security: Security System Owned

HOA

Has HOA: No

Location

Region: Salem

Financial & listing details

Price per square foot: $457/sqft
Tax assessed value: $955,500
Annual tax amount: $9,043
Price range: $2.1M - $2.1M
Date on market: 5/1/2025
Listing agreement: Exclusive Right To Sell
Listing terms: Cash,Conventional,VA Loan,ODVA
Inclusions: Refrig&Freezer in main house, wash/dry, window trt

Price history

Date	Event	Price
9/30/2026	Sold	$2,136,400-14.5%$457/sqft
Source: WVMLS #828382 Report a problem
7/31/2026	Listed for sale	$2,500,000$535/sqft
Source: WVMLS #828382 Report a problem
7/29/2026	Contingent	$2,500,000$535/sqft
Source: WVMLS #828382 Report a problem
5/1/2025	Listed for sale	$2,500,000+112.8%$535/sqft
Source: WVMLS #828382 Report a problem
10/22/2012	Sold	$1,175,000-7.8%$251/sqft
Source: Agent Provided Report a problem
3/21/2012	Listed for sale	$1,275,000$273/sqft
Source: Coldwell Banker Mountain West Real Estate, Inc. #650408 Report a problem
11/30/2011	Listing removed	$1,275,000$273/sqft
Source: Coldwell Banker Mountain West Real Estate, Inc. #640163 Report a problem
6/4/2011	Listed for sale	$1,275,000$273/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