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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 sale
Est $13,527/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
Zip code
97304
Elevation
184 feet
Coordinates
45.0017, -123.0744

Property details

Acreage
19.05 acres
Zoning
EFU
MLS #
WVMLS 828382
Posted

Property taxes

2024
$9,043

Parcels

  • 266024

Details and features

Listing

Type
Residential

Lot

View
Territorial, Water
Waterfront
Yes
Features
Irregular, Lot: M& B

Exterior

Pool
Deck, Patio

Structure

Stories
2
Water
Well
Roof
Composition

Interior

Rooms
Bathroom x 7, Bedroom x 4, Game Room, Office
Flooring
Carpet, Laminate, Tile, Wood

Nearby schools

NameType
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, priced at $2,500,000. It has a 4,675 square foot 4-bedroom, 6-bath house built in 1998.

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

Checked 1 hour agoUpdated Source

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