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$2,500,000

  • For Sale
  • Active
  • Single Family
  • 4 Beds
  • 5 Full Baths
  • 2 Partial Baths
  • 5,795 Sq. Ft.
  • 2 Car Garage
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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.

Full Property Details for 4698 Wallace Rd NW

General

  • Price: $2,500,000
  • Taxes: $9,043 (2024)
  • Status: Active
  • Type: Single Family
  • Source: ODS
  • MLS ID: 220209645
  • Updated: 9/23/2025
  • Added to Site: 119 day(s) ago

Interior

  • Rooms/Areas: Dining Room, Family Room, Laundry, Kitchen, Living Room, Primary Room
  • Interior Features: Kitchen Island, Linen Closet, Pantry, Primary Downstairs, Soaking Tub, Walk-In Closet(s)
  • Fireplace: Yes
  • Fireplace(s): Propane, Wood Burning
  • Flooring: Carpet, Hardwood, Laminate, Tile

Rooms

Bathrooms

  • Total Bathrooms: 7
  • Full Bathrooms: 5
  • Half Bathrooms: 2

Bedrooms

  • Total Bedrooms: 4

Parking

  • Garage: Yes
  • Garage Spaces: 2
  • Parking Features: Concrete, Driveway, Gated
  • Parking: Concrete, Driveaway, Gated

Location

  • Area: 4675
  • County: Polk
  • Subdivision: N/A

School Information

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

Heating & Cooling

  • Air Conditioning: Yes
  • Cooling Type: Heat Pump
  • Heating Type: Electric, Heat Pump, Hot Water, Solar

Utilities

  • Sewer: Septic Tank
  • Water: Well
  • Well: Yes

Structural Information

  • Architectural Style: Colonial
  • Foundation: Stemwall
  • Roof: Composition
  • Common Walls: No Common Walls
  • Stories/Levels: 2
  • Square Feet: 5,795
  • Sq. Ft. Source: Assessor
  • Living Area: 5,795 Sq. Ft.
  • Year Built: 1998

Additional Structures

  • Other Structures: Barn(s), Guest House, Poultry Coop

Lot Features

  • Property View: River
  • Lot Size (Acres): 19.05
  • Lot Size (Sq. Ft.): 829,818
  • Street/Road Desc.: Paved
  • Lot Features: Garden, Landscaped, Pasture, Sloped
  • Zoning: EFU

Water Features

  • Water Front: Yes
  • Water View: Yes

Financial Considerations

  • Tax Amount: $9,043
  • Tax Year: 2024
  • Terms: Cash, Conventional

Disclosures and Reports

  • Special Conditions: Standard
  • APN: 266024
  • Section: Not Applicable
  • Lot Number: M&B

Listed by Blum Real Estate, LLC (503) 485-1900, Troy A Blum (503) 485-1900

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Listing agent

— 4698 Wallace Rd NW —

  • Troy A Blum

    Blum Real Estate, LLC

    503-485-1900

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Be ready to buy your new home!

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Schools serving 4698 Wallace Rd NW

School District:Salem-Keizer School District 24j
NameGradesDistance
Brush College Elementary School
2623 Doaks Ferry Road Northwest, Salem, OR 97304
K-52.1 mi
Straub Middle School
1920 Wilmington Avenue Northwest, Salem, OR 97304
6-82.8 mi
West Salem High School
1776 Titan Drive Northwest, Salem, OR 97304
9-123 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 4698 Wallace Rd NW Get Price Alerts and Save Property

Date
Details
Price
Change
Source
9/23/2025
Listed
$2,500,000
112.77%
MLS
10/19/2012
Sold
$1,175,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 4698 Wallace Rd NW

Year
Property Taxes
Change
Tax Assessment
Change
2024
$9,260
2%
$816,400
3%
2023
$9,044
13%
$792,630
11%
2021
$8,035
-3%
$710,900
-3%
2022
$8,302
3%
$732,220
6%
2021
$8,035
7%
$690,200
3%
2019
$7,518
2%
$670,100
3%
2018
$7,383
16%
$650,590
3%
2017
$6,389
1%
$631,649
3%
2016
$6,350
-3%
$613,260
3%
2015
$6,564
7%
$595,400
3%
2014
$6,125
4%
$578,060
6%
2013
$5,885
—
$543,590
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Blum Real Estate, LLC (503) 485-1900, Troy A Blum (503) 485-1900

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4698 Wallace Road NW, Salem, OR 97304 (MLS# 220209645) is a Single Family property with 4 bedrooms, 5 full bathrooms and 2 partial bathrooms. 4698 Wallace Road NW is currently listed for $2,500,000 and was received on September 23, 2025. Want to learn more about 4698 Wallace Road NW? Do you have questions about finding other Single Family real estate for sale in Salem? You can browse all Salem real estate or contact a Coldwell Banker agent to request more information.

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