4698 Wallace Road NW Salem, OR ^$ 2,500,000

4698 Wallace Road NW

^$ 2,500,000

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4698 Wallace Road NW

Salem, OR, 97304

^$ 2,500,000

Bedrooms4 Baths5.2 Sq 5,795

Monthly Estimate*

^$ 15,393

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View a Virtual Tour

Single Family Home for sale in Salem, OR

for $2,500,000 with 4 bedrooms and 5 full baths, 2 half baths. This 5,795 square foot home was built in 1998 on a lot size of 19.05.

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.

Single Family Active

Price

^$ 2,500,000

Bedrooms

Full Bath

Half Bath

Property Type

Single Family

Taxes

^$ 9,043

Style

Colonial

Lot Size

19.05

Year Built

1998

Town/City

Salem

County/Region

Polk

MLS | Web ID

220209645

Features

General

Sewer Septic Tank

Heating Electric Heat Pump Hot Water Solar

Cooling Heat Pump

Roof Composition

Garage Spaces 2

Architectural Style Colonial

Year Built 1998

View River

Levels Two

Property Subtype Single Family Residence

Tax Year 2024

Waterfront Features River Front

County Polk

New Construction false

Property Type Residential

HOA false

Attached Garage false

Subdivision Name N/A

Garage Y/N true

Other Structures Barn(s) Guest House Poultry Coop

Full Baths 5

Status Active

High School West Salem High

City Salem

Senior Community Y/N false

Zoning Description EFU

Lot Size Units Acres

Lot Size Square Feet 829818

Elementary School Brush College Elem

Tax Annual Amount 9043

Middle/Junior High School Straub Middle

Additional Parcels Y/N false

Virtual Tour https://visithome.ai/YmXcGy5gnDawAWGxZbUwgJ?mu=ft

Standard Status Active

Tax Lot M&B

Heating-Solar true

Accessory Dwelling Unit Y/N Yes

Accessory Dwelling Unit Permitted Unknown

Accessory Dwelling Unit SqFt 1120

Accessory Dwelling Unit Type Detached

Interior

Interior Amenities Kitchen Island Linen Closet Pantry Primary Downstairs Soaking Tub Walk-In Closet(s)

Flooring Carpet Hardwood Laminate Tile

Fireplace Features Propane Wood Burning

Common Walls No Common Walls

Air Conditioning Y/N true

Heating Y/N true

Fireplace Y/N true

Half Baths 2

Total Bedrooms 4

Total Baths 7

Heating-Hot Water true

Heating-Heat Pump true

Exterior

Parking Features Concrete Driveway Gated

Lot Features Garden Landscaped Pasture Sloped

Water Source Well

Lot Size Area 19.05

Foundation Details Stemwall

Building Area Total 4675

Lot Size Acres 19.05

Road Surface Type Paved

Waterfront Y/N true

* Excluded Features

List By

Troy A Blum

Listing Agent

Blum Real Estate, Llc

Broker

troy@blumre.com

Affordability Calculator

$16,147

Per Month

Monthly Principal & Interest: $15,393
Monthly Property Taxes: $754
Monthly Home Insurance: --

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Yearly Home Insurance

Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Single family listings in Salem, OR

Average List Price ^$894,878

Percent of Sale Price 64%

About Salem, OR

32,150 Population

45% Since 2002

^$63,396 Median Income

40.44 Median Age

30% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

0 Elementary School

0 Middle School

West Salem High High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
1/29/2026	$2,500,000		Listed Price

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4698 Wallace Road NW, Salem, OR, 97304 is a Single Family Home for sale at $2,500,000 with 5,795 sqft and a lot size of 19.05. 4698 Wallace Road NW has 4 bedrooms, 5.2 baths, and was built in 1998. The property's zip code is 97304 which is in Salem, OR

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

© 2020 Oregon Datashare (KCAR | MLSCO | SOMLS). All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Oregon Datashare. Real estate listings held by IDX Brokerage firms other than Weichert Realtors are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing Brokers. Information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. The consumer will not copy, retransmit nor redistribute any of the content from this website. Information provided is deemed reliable, but not guaranteed. Listing courtesy of Weichert Realtors.

Data is updated as of 2/9/2026.

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4698 Wallace Road NW

Single Family Home for sale in Salem, OR

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