# 4698 Wallace Rd NW, Salem, OR 97304

> **TL;DR:** 4bd/7ba single family, $2,500,000 ($535/sqft), built 1998, 4,675 sqft.
> Fireplace, View. Est. $10,833/mo. Listed 396 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $2,500,000 |
| Price/sqft | $535 |
| Bedrooms | 4 |
| Bathrooms | 5 full, 2 half |
| Square Feet | 4,675 |
| Year Built | 1998 |
| Lot Size | 829,818 sqft (19.05 acres) |
| Property Type | Single Family (Single Family Residence) |
| Status | For Sale |
| Days on Market | 396 |

## Why This Home Stands Out

- **Views** - Mountain, Territorial, Water

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $10,833 |
| **Total** | **$10,833** |

## Nearby Schools

- **Elementary:** Brush College
- **Middle:** Straub
- **High:** West Salem

## Key Amenities

- Fireplace
- View

## Property Highlights

- Built in 1998
- 19.05 acre lot
- 2 parking spaces
- Fireplace

## Description

### Agent Description
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.

## Location

- **Address:** 4698 Wallace Rd NW, Salem, OR 97304
- **County:** Polk

## Listing Agent

- **Name:** GLADYS BLUM
- **Brokerage:** BLUM REAL ESTATE
- **Phone:** 5034851900
- **Email:** transactions@Blumre.com

## Primary Photo

![4698 Wallace Rd NW - Primary Photo](http://lh.rdcpix.com/91f27caef8f25a4ec3abe535861bf53el-f3236303109r.jpg)

*50 total photos available on [listing page](https://www.propertysimple.com/listing/4698-wallace-rd-nw-salem-or-97304-r828382)*

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**MLS#:** 828382 | **Updated:** 2026-06-17
**Source:** listhub

*Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/4698-wallace-rd-nw-salem-or-97304-r828382)

---

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