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2398 Cole Rd S, Salem, OR, 97306

5beds
3baths
3,391sqft
$999,999
$295price/sqft
$6,659/moest. monthly cost
$266,360/yrincome needed

About This Home

4.21 acres of special agricultural land in one of Salem’s most desirable locations with a recently remodeled 5 bedroom/3 bathroom home with PEX/copper plumbing, updated electrical and new septic system. This gorgeous property also includes an above ground pool with surrounding Timber Tech deck, owned solar panel array to help offset electrical bills, a barn, garden area and large pastures. 4.21 acres of special agriculture land in one of Salem’s most desirable locations in South Salem. The land itself offers privacy and serenity with an artesian well and creek that lines the west end of the property, close proximity to schools, wineries, tree farms and agriculture. Property offers a 5 bedroom/3 bath home with recent additions and two primary suites. A 1966 home with all main systems updated over the last 5 years PEX and copper plumbing, updated electrical panel, septic system and leach field, and exterior paint. True hardwood flooring throughout the upstairs where the first primary suite has vaulted ceilings, full bathroom, and a walk-in closet. Two other cozy bedrooms and a full bathroom are upstairs. A spacious dining room that flows into the updated kitchen with Corian countertops, and crown molding throughout the kitchen and living room. Newer appliances, stainless gas range and dishwasher and plenty of cabinetry for storage. French doors that lead to a Timber Tech decking which runs the length of the home and surrounds an above ground pool. The downstairs has another bedroom and the second large primary suite with a full bathroom (walk-in shower) and lots of closet space. In addition to the main house the property has a barn with electricity; 3 outdoor and 2 indoor bays, a workout room, and finished storage room with attic. The property includes a solar panel array to power the house, barn, and pump house. There is room for parking vehicles, RVs, trailers, and/or boats. A long asphalt driveway lined with fruit trees (apples, cherries, plums, and peaches) welcome you home. Schedule a showing to experience this home and property in person.

Getting Around

2
WalkingCar-Dependent
0
TransitNo Nearby Transit
1
BikeSomewhat Bikeable

Schools

4/10
3/10
Crossler Middle SchoolGrades 6-82.0 mi
6/10
Sprague High SchoolGrades 9-122.7 mi

Construction

Condition

  • Year built: 1966

Materials

  • Foundation: Continuous,Slab
  • Roof: Composition
  • Construction materials: Fiber Cement,Wood Siding,Lap Siding

Type & Style

  • Home type: SingleFamily
  • Property subType: Single Family Residence

Interior

Appliances

  • Appliances included: Dishwasher,Disposal,Gas Range,Range Included,Gas Water Heater
  • Laundry features: Lower Level

Basement

  • Has basement: Yes
  • Basement: Finished

Bedroom2

  • Level: Main

Bedroom3

  • Level: Main

Bedroom4

  • Level: Lower

Bedrooms & Bathrooms

  • Bedrooms: 5
  • Bathrooms: 3
  • Full bathrooms: 3
  • Main level bathrooms: 2

Dining Room

  • Features: Area (Combination)
  • Level: Main

Family Room

  • Level: Main

Features

  • Workshop
  • Flooring: Tile,Wood

Heating

  • Heating features: Forced Air

Interior Area

  • Total structure area: 3,391
  • Total interior livable area: 3,391 sqft

Kitchen

  • Level: Main

Living Room

  • Level: Main

Master Bedroom

  • Level: Main

Property

Details

  • Parcel number: 561587
  • Zoning: SA

Features

  • Levels: Split Entry
  • Private pool: Yes
  • Pool features: Above Ground
  • Patio & porch: Covered Deck,Deck
  • Exterior features: Beige
  • Fencing: Partial
  • Has view: Yes
  • View description: Territorial

Lot

  • Lot size: 4.21 Acres

Parking

  • Total spaces: 2
  • Parking features: Attached
  • Has garage: Yes
  • Attached garage spaces: 2
  • Covered spaces: 2

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Earthquake
    EarthquakeRelatively High
  • Heat Wave
    Heat WaveModerate
  • Strong Wind
    Strong WindModerate

How This Home’s Risks Compare

Earthquake
Heat Wave
Strong Wind

FEMA Declared Disasters in Marion County and Oregon

Fire
Flood
Mud Landslide
Severe Storm
Straight Line Winds
Winter Storm

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $5,056$60,672
Home Insurance *$248$2,976
Property Taxes $1,048$12,576
Electricity $307$3,692
Total$6,659$79,908
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$228,308/yr
40% on housing$199,770/yr
45% on housing$177,573/yr

Oregon FAIR Plan Programs

Oregon FAIR Plan Association

Covered
WildfireWildfire
Add-on available
HailHail
WindWind
Visit Website →
Current Policies
Residential: 2,377Commercial: 170
Total Premiums$3.07M
Total Exposure$840.98M

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 6.7%
6.7%
0%30.0%
Electricity Growth Rate10-year average: 2.0%
2.0%
0%15.0%
Property Taxes Growth Rate2-year average: 0.1%
0.1%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$295This listing

vs Other Active Listings

Avg $/sqft

ZIP 97306$233
Marion County$231

vs Homes Sold Last Month

Median $/sqft

ZIP 97306$277
Marion County$278

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

Price History

DateEventPrice
2026-04-16Price change$999,999
2026-03-26Price change$1,050,000
2026-02-04Listed for sale$1,100,000
2019-06-07Sold$499,000

For Sale by Agent

AgentFRANCISCO STOLLER
BrokerageReal Broker

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