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Land with Home for Sale in Salem, Oregon

4698 Wallace Rd NW, Salem, OR 97304

$2,500,000
19 acres
Active
Est $13,003/mo

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. Nestled in Willamette Valley wine country, a long, paved driveway winds past pastures and fruit trees to a stately Georgian-style home that exudes timeless elegance from the moment you arrive. The floor plan is designed for comfort and versatility. The main-level primary suite creates a serene retreat with a cozy fireplace and an ensuite bath. Upstairs, additional bedrooms and two full bathrooms provide ample living space. A charming, third floor sun-filled loft with a large closet and half bath offers endless possibilities--ideal as a guest hideaway, children's bunkroom, or hobby space.Thoughtfully appointed living spaces make this home perfect for both everyday living and special occasions. A refined library with built-ins and a majestic living room capture sweeping views of the grounds, while the elegant kitchen and formal dining room set the stage for memorable gatherings. A fully renovated, expansive recreation room with kitchenette and full bath, connected to the main house via a breezeway, can be used for entertaining or as an in-law unit. A standalone cottage with one bedroom plus an office offers even more dwelling options.Outdoors, the property is a true gardener's and hobby farmer's paradise. Relax on the spacious patio and take in the river views, or explore the pastures, fruit trees, and landscaped grounds. A large shop/barn supports a variety of projects, and the delightful, oversized chicken house--adorned with a school bell and accompanied by a fenced chicken yard--adds a touch of storybook charm. Children (and adults) will love ringing the bell when they find fresh eggs.River Cove Farm offers the best of both worlds: a serene, country setting and easy access to all the conveniences and cultural options of downtown Salem.

4,675
Sq feet
4
Beds
5
Full baths
2
1/2 baths
1998
Built

Location

Street address
4698 Wallace Rd NW
Elevation
184 feet
Coordinates
45.0017, -123.0744

Property details

Acreage
19.05 acres
MLS #
WVMLS 828382
Posted

Property taxes

Recent
$9,043

Parcels

  • 266024

Details and features

Listing

Type
Residential
Subtype
Single Family Residence

Lot

View
Mountain, Territorial, Water

Exterior

Parking Spaces
2
Parking
Attached Garage, Garage
Fencing
Fenced
Structures
Barn(s), Packing Shed, Shed(s)
Features
Barn, Fenced Yard, Landscaping, Separate Shop, Shed

Structure

Heating
Electric, Fireplace(s), Heat Pump, Hot Water, Propane, Solar, Wood
Roof
Composition

Interior

Rooms
Bathroom x 5, Bedroom x 3, Dining Room, Family Room, Kitchen, Living Room, Master Bedroom, Office, Utility Room
Flooring
Carpet, Laminate, Tile
Appliances
Dishwasher, Garbage Disposer, Microwave, Range, Washer
Accessibility
Accessible Approach With Ramp
Features
Handicap Amenities, Propane Wood Fireplace(s)

Property utilities

CategoryTypeStatusDescription
PowerSolarConnected
GasPropaneConnected

Nearby schools

NameLevelDistrictDescription
Brush CollegeElementary
StraubMiddle
West SalemHigh

Listing history

DateEventPriceChangeSource
May 2, 2025New listing$2,500,000WVMLS
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This 19.05-acre property is located at 4698 Wallace Rd NW in Salem, OR 97304. The property is available for sale for $2,500,000. It has a 4,675 sq ft 4 bedroom, 5 bath house built in 1998.

Checked 35 mins ago — Updated

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