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6109 Riverside Drive
About This Property
Tucked just off Old Falls of Neuse Road--mere minutes from Raleigh--this remarkable 1.5-acre parcel feels worlds away, delivering the tranquility of a private retreat without sacrificing convenience. The homesite is already equipped with a 5-bedroom septic system and well, streamlining the path to building your custom estate.
Elevated well above the floodplain (with only the steep river's edge below), the property offers both peace of mind and dramatic views. The topography is ideal: a flat, welcoming approach from the road transitions into a gentle slope, eventually revealing impressive natural boulder formations as the land descends toward the river's edge.
Envision your future residence here--an architectural masterpiece overlooking the gentle rapids, where evenings are defined by spectacular sunsets shimmering across the water. Opportunities like this are exceedingly rare; true waterfront properties in Wake County are limited, and few compare to the beauty and presence of this offering.
Located within a neighborhood featuring NO HOA and very light original covenants, and zoned for desirable Wakefield schools, this homesite strikes a rare balance between luxury, privacy, and accessibility. It's more than land--it's the foundation for an extraordinary lifestyle.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 11, 2026 | In contract | - | |
| In contract | |||
| May 6, 2026 | Listed by Howard Hanna Allen Tate Raleigh Glenwood | $850,000 | |
| Listed by Howard Hanna Allen Tate Raleigh Glenwood | |||
| Aug 29, 2024 | Sold | ||
| Sold | |||
| May 15, 2024 | Listed by Mark Spain Real Estate | $675,000 | |
| Listed by Mark Spain Real Estate | |||
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Home with water views!!! This is a must see with plenty of privacy.
This home has a very private lot that is close to everything! Large lot with detached two car garage. Inside, we have all the formal areas for entertaining. Lower level with walk out to amazing view. Nicely, size, owner retreat, bath, and closets! Enjoy the large kitchen that connects to the formal dining room for entertaining, holidays, and family get togethers!
This home has a large circular drive and mature landscaping. Have your very own private oasis with evenings by the fire and nature's beauty all around. Just steps away from the popular Falls Lake and the Neuse River Greenway Trail head. You are steps/minutes away from conveniences like the Wakefield schools, shopping including
a Wegmans, movie theater, restaurants and more! 4 miles to 540. 5 miles to downtown Wake Forest. 12 miles to downtown Raleigh. No HOA and no city taxes!
Hurry this one may not last!
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017