For Sale185d on market

4698 Wallace Rd NW

Salem, OR, 97304 • 97304 • Polk County

$2,500,000

$431/sqft

Down payment assistance available

4Beds

7Baths

5,795Sqft

19.1 acLot

1998Built

Property DNA

8 highlights

Waterfront Property

River Front

River Views

River

Colonial Style

Built 1998 · 28 years of history

Outdoor Living

Covered · Patio · Rear Porch

Special Features

Barn(s) · Guest House · Poultry Coop

2-Car Garage

Concrete · Driveway · Gated

Premium Finishes

Walk-In Closet(s)

Hardwood & Tile Floors

Quality flooring throughout

This home is getting attention

Listed 185 days ago · 1,297 views · 41 saves

Market activity

Demand and pricing signals for this listing

1,297 views

People checking out this listing

41 saves

Buyers have saved this home

185 days on market

Established listing

$431/sqft

Price per square foot

Selling Soon Prediction

Moderate

This home ranks in the top 47% of listings most likely to go under contract soon, based on market activity and demand signals.

Likelihood score

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About this home

Single Family · Built 1998

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.

Standout features identified

Our analysis highlights riverfront property, cozy fireplace, and lush acreage as key attractions of this home.

Estimated monthly payment

Based on current rates

$16,305/month

Principal & Interest$12,972

Property Tax$2,500

Insurance$833

Down payment20% ($500,000)

3%50%

Est. 6.75% rate · 30yr fixed · $2,000,000 loan

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At a glance

Key facts and listing details

TypeSingle Family Residence

Year Built1998

HeatingElectric, Heat Pump, Hot Water, Solar

CoolingHeat Pump

Parking2 Garage spaces

Lot19.05 Acres

Days on Zillow185 Days

Price/sqft$431

Property

Home typeSingle Family

Sub-typeSingle Family Residence

StyleColonial

Year built1998

Stories2

Systems

HeatingElectric, Heat Pump, Hot Water, Solar

CoolingHeat Pump

RoofComposition

Water / SewerWell / Septic Tank

Parking & Outdoor

ParkingConcrete, Driveway, Gated

Garage2 spaces

Lot19.05 Acres

Location & Tax

Neighborhood97304

Annual tax$9,043

Parcel266024.000000000000000

Features & details

10 categories of property features

Interior Features

Interior

Kitchen Island

Linen Closet

Pantry

Primary Downstairs

Soaking Tub

Walk-In Closet(s)

Flooring

Carpet

Hardwood

Laminate

Tile

Heating

Electric

Heat Pump

Hot Water

Solar

Cooling

Heat Pump

Fireplace

Propane

Wood Burning

Exterior Features

Parking

Concrete

Driveway

Gated

Patio & Porch

Covered

Patio

Rear Porch

Lot Features

Garden

Landscaped

Pasture

Sloped

Views

River

Other Structures

Barn(s)

Guest House

Poultry Coop

Listing insights

Market data and value estimates

StatusFor Sale

Days on market185

Est. rent$4,426/mo

Tax rate0.80%

Price/sqft$431

On marketSep 23, 2025

PostedSep 23, 2025

Last sold$1,175,000

MLS statusActive

MLS updatedSep 23, 2025

Tour days9

Favorites41

How are the schools in Salem?

3 schools rated nearby

Brush College Elementary School

Elementary • Public • K-5

2.1 mi

Straub Middle School

Middle • Public • 6-8

2.8 mi

West Salem High School

High • Public • 9-12

3.0 mi

Location

Salem, OR, 97304

Expand map

Price history

5 events

DateEventPrice$/sqftSource

May 1, 2025Listed For Sale$2,500,000$431WVMLS

Oct 22, 2012Sold$1,175,000$203Agent Provided

Mar 21, 2012Listed For Sale$1,275,000$220Coldwell Banker Mountain West Real Estate, Inc.

Nov 30, 2011Listing Removed$1,275,000$220Coldwell Banker Mountain West Real Estate, Inc.

Jun 4, 2011Listed For Sale$1,275,000$220Coldwell Banker Mountain West Real Estate, Inc.

Listed For Sale$2,500,000

May 1, 2025•$431/sqft•WVMLS

Sold$1,175,000

Oct 22, 2012•$203/sqft•Agent Provided

Listed For Sale$1,275,000

Mar 21, 2012•$220/sqft•Coldwell Banker Mountain West Real Estate, Inc.

Listing Removed$1,275,000

Nov 30, 2011•$220/sqft•Coldwell Banker Mountain West Real Estate, Inc.

Listed For Sale$1,275,000

Jun 4, 2011•$220/sqft•Coldwell Banker Mountain West Real Estate, Inc.

Tax history

20 years of records

YearTax paidAssessed value

Mar 27, 2020$7,810$690,200

Mar 27, 2019$7,518$670,100

Mar 27, 2018$7,518$650,590

Mar 27, 2017$7,383$631,650

Mar 27, 2016$6,389$613,260

Mar 27, 2015$6,350$595,400

Mar 27, 2014$6,564$578,060

Mar 27, 2013$5,885$543,590

Mar 27, 2012$5,739$527,760

Mar 27, 2011$5,237$493,220

Mar 27, 2010$4,973$478,860

Mar 27, 2009$4,947$464,920

Mar 27, 2008$4,753$451,380

Mar 27, 2007$4,614$438,240

Mar 27, 2006$4,399$425,480

Mar 27, 2005$4,358$413,090

Mar 27, 2004$4,441$401,080

Mar 27, 2002$4,002$378,060

Mar 27, 2001$3,930$367,050

Mar 27, 2000$3,790$356,360

Nearby homes

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4728 Wallace Rd NW, Salem, OR

Off Market

$963,900

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4738 Wallace Rd NW, Salem, OR

Off Market

$1,727,500

4 bd4.5 ba4,675 sqft

4698 Wallace Rd NW, Salem, OR

Off Market

$544,700

3 bd1.5 ba1,285 sqft

4850 Wallace Rd NW, Salem, OR

Off Market

$635,200

5 bd3 ba3,222 sqft

4731 Wallace Rd NW, Salem, OR

Off Market

$723,400

3 bd3 ba1,963 sqft

4747 Wallace Rd NW, Salem, OR

Off Market

$537,200

3 bd2 ba1,818 sqft

4735 Wallace Rd NW, Salem, OR

Off Market

$733,800

2 bd2 ba1,989 sqft

4920 Wallace Rd NW, Salem, OR

Neighborhood details

Local context around this listing

Salem, OR • Polk County

Nearby neighborhoods

East LancasterFaye WrightFour CornersHayesvilleMorningsideNorth LancasterNorthgateSouth GatewaySoutheast Mill CreekWest Salem

Nearby cities

DallasEolaFalls CityGrand RondeIndependenceMonmouthRickreallSheridan

Nearby zip codes

97301973029730497305973069730897309973109731297317

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Value estimates

Live

Est. rent$4,426/mo

Affordability$14,491/mo

Accepted financing

CashConventional

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© 2026 Oregon Datashare (KCAR | MLSCO | SOMLS). All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Oregon Datashare. Real estate listings held by IDX Brokerage firms other than Zillow Inc. are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing Brokers. Information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. The consumer will not copy, retransmit nor redistribute any of the content from this website. Information provided is deemed reliable, but not guaranteed. This content has last been updated on 2026-03-27 03:24:16 PDT

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