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4698 Wallace Rd NW, 
Salem, OR 97304

$2,500,000


4

Beds


7

Baths


4,675

Sq Ft


Single Family


Virtual Tour

Pending

Listed by

Gladys Blum, Direc: 503-485-1900

, 

Troy Blum

Blum Real Estate

503-485-1900

Last updated:

September 30, 2026, 09:22 AM

MLS#

828382

Source:

OR WVMLS

About This Home

4698 Wallace Rd NW

Accepted Offer with Contingencies. 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.

Home Facts

Single Family

7 Baths

4 Bedrooms

Built in 1998

Price Summary

2,500,000

$534 per Sq. Ft.

MLS #:

828382

Last Updated:

September 30, 2026, 09:22 AM

Added:

a year ago


Rooms & Interior

Bedrooms

Total Bedrooms:

4

Bathrooms

Total Bathrooms:

7

Full Bathrooms:

5

Interior

Living Area:

4,675 Sq. Ft.


Structure

Structure

Architectural Style:

2 Story

Building Area:

4,675 Sq. Ft.

Year Built:

1998


Lot

Lot Size (Sq. Ft):

829,818


Finances & Disclosures

Finances

Price:

$2,500,000

Price per Sq. Ft:

$534 per Sq. Ft.

MLS Logo
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. OR WVMLS Member Broker: Katherine Powell

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.