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3471 Cole Rd S, Salem, OR, 97306

5beds
5baths
4,498sqft
$2,475,000
$550price/sqft
$15,246/moest. monthly cost
$609,840/yrincome needed

About This Home

Spectacular home and land located in a lovely south Salem country setting with some flat pastures & gentle rolling slopes. Featuring a 5-bedroom, 3-full bath, and 2-half bath plan. Kitchen boasts Hickory Cabinets and Granite Counters w/an Island & Pantry. Gas Range and Dual Convection Ovens add inspiration. Overlooking stunning mountain and territorial views, just steps to an expansive outdoor deck on two sides of the home, perfect for entertaining. Main bedroom suite is spacious w/high ceilings (see add't) hardwood flrs, real wood FP, large walk-in closet & balcony. Bathroom adorned w/jetted tub, large his & her tiled shower, 2-sinks and a gas FP. Main level features 1-bedroom, office-bonus rm and a comfortable living room w/gas FP. Downstairs you will find the family room w/game or theater options, a half-bath and 2-bedrooms with a Jack & Jill bath. Behind this … a safe room with monitored multi-camera security system, A/V wiring hub & central vacuum. Attached is a dual living apartment w/a living area, bedroom, full bath and a small kitchen, w/its own water heater & entrance. The first two-car garage has a mud room with utility shower and sink. Recent improvements inc a new roof, newer interior/exterior paint, large number of electrical upgrades including lighting, water faucets and a newer heat pump & new satellite internet. The outdoors greets you with thoughtfully landscaped architecture, inc a large patio, a paver patio w/Gas Firepit, Koi Pond and a Hot Tub. All plumbing & electrical services are underground. The grounds feature 7-separate fenced pastures each stubbed w/water irrigation hookups. Automated gated entryway enjoys Wi-Fi connectivity. The second two-car garage or shop is attached to the barn with heat & half-bath options. The barn is a fully enclosed 60’ x 90’ arena w/lighting & tall RV sliding doors on both sides. Adjacent are 5-large horse stalls each with an automatic watering system & drainage. Outside are three covered bays for hay, equipment, etc. A rain catchment system next to barn gathers & stores 5,000-gallons of water in 2-cisterns. There is a custom high-end tree house with water and power. Low property taxes comparative to value. Barn and land can be re-purposed for a variety of uses. Maybe a Sports Court, Storage Facility, Hobby Farm, Event Hosting (Weddings or Parties) or even a B & B? There is a back entrance to property with access to the outbuildings. A truly amazing place to call home where you can make your dreams come true!

Getting Around

0
WalkingCar-Dependent
0
TransitNo Nearby Transit
2
BikeSomewhat Bikeable

Schools

4/10
3/10
Crossler Middle SchoolGrades 6-82.6 mi
6/10
Sprague High SchoolGrades 9-122.9 mi

Construction

Condition

  • Year built: 2005

Materials

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

Type & Style

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

Interior

Appliances

  • Appliances included: Dishwasher,Disposal,Gas Range,Built-In Range,Microwave,Range Included,Down Draft,Convection Oven,Electric Water Heater
  • Laundry features: Main Level

Basement

  • Has basement: Yes
  • Basement: Full,Finished,Daylight

Bedroom2

  • Level: Lower

Bedroom3

  • Level: Lower

Bedroom4

  • Level: Upper

Bedrooms & Bathrooms

  • Bedrooms: 5
  • Bathrooms: 5
  • Full bathrooms: 3
  • 1/2 bathrooms: 2
  • Main level bathrooms: 1

Dining Room

  • Features: Area (Combination)
  • Level: Main

Family Room

  • Level: Lower

Features

  • Den,Mudroom,Office,High Speed Internet,Smart Home
  • Flooring: Carpet,Wood,Tile
  • Fireplace features: Living Room,Other Room,Wood Burning,Gas
  • Fireplace: Yes

Heating

  • Heating features: Electric,Propane,Heat Pump,Forced Air

Interior Area

  • Total structure area: 4,498
  • Total interior livable area: 4,498 sqft

Kitchen

  • Level: Main

Living Room

  • Level: Main

Master Bedroom

  • Level: Upper

Property

Details

  • Zoning: SA

Features

  • Levels: Tri-Level
  • Patio & porch: Patio,Covered Patio
  • Exterior features: Beige/Tan
  • Has spa: Yes
  • Spa features: Heated
  • Fencing: Fenced
  • Has view: Yes
  • View description: Mountain(s),Territorial

Lot

  • Lot size: 20.19 Acres
  • Features: Dimension Above,Landscaped

Parking

  • Parking features: Attached,RV Garage
  • Has garage: Yes
  • Attached garage spaces: 4

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 $12,514$150,168
Home Insurance *$613$7,356
Property Taxes $1,711$20,532
Electricity $408$4,898
Total$15,246$182,952
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$522,720/yr
40% on housing$457,380/yr
45% on housing$406,560/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

$550This listing

vs Other Active Listings

Avg $/sqft

ZIP 97306$229
Marion County$230

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
2026-04-14Listed for sale$2,500,000
2025-12-02Listing removed$2,299,500
2025-08-31Price change$2,299,500
2025-06-02Price change$2,449,500
2025-03-31Price change$2,495,000
2024-09-04Listed for sale$2,600,000

For Sale by Agent

AgentGARY BAUER- P.C.
BrokerageKnipe Realty Era Powered

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