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Listing provided courtesy of BLUM REAL ESTATE: 503-485-1900.

4698 Wallace Rd NW

Salem, OR 97304
  • $2,500,000
  • STATUS: Active
  • ON SITE: 292 Days
  • MLS #: 828382
UPDATED: 59 min ago
$2,500,000
  • 4
    BEDS
  • 19.05
    ACRES
  • 5
    BATHS
  • 2
    1/2 BATHS
  • 4,675
    SQFT
  • $535
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
1998
County:

School Information

Elementary School:
Middle School:
High School:
Listing provided courtesy of BLUM REAL ESTATE: 503-485-1900. Listing information © 2026 Willamette Valley Multiple Listing Service



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, childrens 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 gardeners and hobby farmers 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.

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Willamette Valley MLS logo © 2026 Based on information from Willamette Valley Multiple Listing Service, which neither guarantees nor is in any way responsible for its accuracy. All data is provided AS IS and with all faults. Data maintained by Willamette Valley Multiple Listing Service may not reflect all real estate activity in the market. Data last updated: 2026-02-18T18:08:46.71.
www.suelongrealty.com/homes/163217640
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4698 Wallace Rd NW Salem, OR 97304

  • Price: $2,500,000
  • Status: Active
  • On Site: 292 Days
  • Updated: 59 min ago
  • MLS #: 828382
4
Beds
5
Baths
2
½ Baths
19.05
Acres
4,675
SQFT
$535
$/SQFT
1998
Built
Neighborhood:
60 NORTHWEST SALEM
County:
Polk
Area:
60 NORTHWEST SALEM
Elementary School:
Brush College
Middle School:
Straub
High School:
West Salem
Property 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, childrens 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 gardeners and hobby farmers 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.
Exterior Features

Fenced Yard Yes Foundation Continuous Garage Capacity 2 Garage Type Attached Home Style 2 Story Landscape Yes Lot Type Irregular Outbuildings BarnOther (Refer to Remarks)Separate ShopShed Patio Covered DeckCovered PatioDeckPatio Roof Composition Siding Cedar Siding Style Lap Suitable For AgribusinessPasture/Ranch Timber No Underground Sprinklers Yes View MountainTerritorialWater Frontage

Interior Features

Additional Room Level 2/Upper Bedroom2 Dimensions 14.8x14.3 Bedroom2 Level 2/Upper Bedroom3 Dimensions 18x14 Bedroom3 Level 1/Main Bedroom4 Dimensions 19x14 Bedroom4 Level 1/Main Bonus Rooms MudroomOfficeRec Room Dining Area (Combination)Formal Dining Room Dimensions 15.4x14.2 Dining Room Level 1/Main Dishwasher Yes Disposal Yes Family Room Dimensions 29x14.3 Family Room Level 1/Main Fireplace Living RoomOther RoomPropaneWood Flooring CarpetLaminateTileWood Heating And Cooling ElectricSolarHeat PumpHot Water Kitchen Dimensions 22x14 Kitchen Level 1/Main Living Room Dimensions 35.4x19.4 Living Room Level 1/Main Master Bedroom Dimensions 21.3x16.5 Master Bedroom Level 1/Main Range Facility Built-inConvectionElectricGasMicrowave IncludedPropane Total Baths 7 Utility Room Dimensions 15x12 Utility Room Level 1/Main Water Heater Electric

Property Features

55 Plus Housing No Dual Living Possible Flood Plain No Green Home No Handicap Amenities Yes (Refer to Remarks) High Speed Comm Access Available Home Warranty Negotiable Homeowners Association No Association Inclusions Refrig&Freezer in main housewash/drywindow trt Inspection Report Available No New Construction No Possession Neg Rv Amenities Area/Room For Security System Owned Septic Standard Source Of Sq F County Tax Amount 9043 Tax Years 2024 Terms Seller Will Consider CashConventionalFederal VAODVA Water Well Zoning EFU

© 2026 Willamette Valley Multiple Listing Service. All rights reserved.


Willamette Valley MLS logo © 2026 Based on information from Willamette Valley Multiple Listing Service, which neither guarantees nor is in any way responsible for its accuracy. All data is provided AS IS and with all faults. Data maintained by Willamette Valley Multiple Listing Service may not reflect all real estate activity in the market. Data last updated: 2026-02-18T18:08:46.71.
 
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Listing provided courtesy of BLUM REAL ESTATE: 503-485-1900. Listing information © 2026 Willamette Valley Multiple Listing Service