4698 Wallace Rd NW Salem, OR 97304
Spring Valley NeighborhoodEstimated payment $14,061/month
Highlights
- Barn
- Waterfront
- Mountain View
- RV Access or Parking
- 19.05 Acre Lot
- Covered Deck
About This Home
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. Step outside to the spacious patio and soak in the views. It is a true gardener’s delight with ample space for gardening. The property is equipped with a large shop/barn, chicken house, and pastures. A charming caretaker’s cottage offers many possibilities.Enjoy the tranquility of the Willamette River frontage, complete with a private beach and a cove for boat tie-up.Your sanctuary awaits!
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $9,043
Year Built
- Built in 1998
Lot Details
- 19.05 Acre Lot
- Waterfront
- Fenced Yard
- Landscaped
- Irregular Lot
- Sprinkler System
- Property is zoned EFU
Property Views
- Mountain
- Territorial
Home Design
- Composition Roof
- Lap Siding
- Cedar Siding
Interior Spaces
- 4,675 Sq Ft Home
- 2-Story Property
- Wood Burning Fireplace
- Gas Fireplace
- Mud Room
- Living Room with Fireplace
- Home Office
- Recreation Room
- First Floor Utility Room
- Security System Owned
Kitchen
- Convection Oven
- Built-In Range
- Microwave
- Dishwasher
- Disposal
Flooring
- Wood
- Carpet
- Laminate
- Tile
Bedrooms and Bathrooms
- 4 Bedrooms
- Primary Bedroom on Main
Parking
- 2 Car Attached Garage
- RV Access or Parking
Outdoor Features
- Covered Deck
- Covered Patio or Porch
- Shed
- Shop
Schools
- Brush College Elementary School
- Straub Middle School
- West Salem High School
Utilities
- Heat Pump System
- Hot Water Heating System
- Well
- Electric Water Heater
- Septic System
- High Speed Internet
Additional Features
- Handicap Accessible
- Solar Heating System
- Barn
Listing and Financial Details
- Tax Lot M&B
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $9,260 | $840,890 | $387,910 | $452,980 |
| 2024 | $9,260 | $816,400 | $376,620 | $439,780 |
| 2023 | $9,044 | $832,400 | $365,650 | $466,750 |
| 2022 | $8,302 | $732,220 | $354,980 | $377,240 |
| 2021 | $8,035 | $710,900 | $344,640 | $366,260 |
| 2020 | $7,810 | $690,200 | $334,600 | $355,600 |
| 2019 | $7,518 | $670,100 | $324,870 | $345,230 |
| 2018 | $7,383 | $650,590 | $315,410 | $335,180 |
| 2017 | $6,389 | $631,650 | $306,230 | $325,420 |
| 2016 | $6,350 | $613,260 | $297,320 | $315,940 |
| 2015 | $6,564 | $595,400 | $288,660 | $306,740 |
| 2014 | $6,125 | $578,060 | $280,250 | $297,810 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 09/23/2025 09/23/25 | For Sale | $2,500,000 | +112.8% | $431 / Sq Ft | |
| 10/22/2012 10/22/12 | Sold | $1,175,000 | -7.8% | $289 / Sq Ft | View Prior Sale |
| 10/09/2012 10/09/12 | Pending | -- | -- | -- | |
| 03/20/2012 03/20/12 | For Sale | $1,275,000 | -- | $313 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $1,175,000 | Fidelity Natl Title Co Of Or | |
| Interfamily Deed Transfer | -- | None Available |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $747,500 | Adjustable Rate Mortgage/ARM |
Source: Willamette Valley MLS
MLS Number: 828382
APN: 266024
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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. WVMLS Member Broker: Arlene Richardson
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