Active · Single Family

407 MAGNOLIA STREET

NEW SMYRNA BEACH, FL 32168

$739,900

$262/sqft

Beds

4 beds

Baths

3 baths

Area

2,824 sqft

Single FamilyBuilt 19137,500 sqft lotCentral, ElectricCentral AirFireplace$262/sqft5 days on market

About this home

Turn-Key 1031 Exchange Opportunity in Historic Downtown New Smyrna Beach! Or perhaps you're looking for a charming downtown residence with an income-producing cottage? Rare opportunity to acquire a fully leased multifamily property located in the highly desirable B&B District of Historic Downtown New Smyrna Beach, also within the Historic and Arts Overlay Districts. Whether you're seeking a turn-key investment, a 1031 Exchange property, or a future owner-occupied residence with rental income, this unique property offers exceptional flexibility and long-term value. Ideally situated just a short walk from Canal Street's popular shops, restaurants, art galleries, breweries, and year-round entertainment, this property offers the walkable downtown lifestyle that tenants love and that continues to drive strong rental demand. The property features a charming two-story main residence with two separate apartments, plus a detached cottage: Lower Unit: Spacious 2-bedroom, 1-bath apartment featuring a fireplace and private laundry. Upper Unit: 1-bedroom, 1-bath apartment with a private rear entrance and its own laundry facilities Approximately 800 square feet with loft, private laundry, and excellent rental flexibility. All three units are currently occupied by long-term tenants, providing immediate, stable cash flow from day one. Current gross rental income is approximately $63,000 annually. Property Highlights, Three fully leased residential rental units, Multi-family zoning Located within the Historic and Arts Overlay District, Prime Downtown New Smyrna Beach location Easy walk to Canal Street shopping, dining, galleries, and entertainment Main residence roof approximately 8 years old, Detached cottage roof replaced in 2026 Strong long-term rental history with excellent tenant demand Owner currently pays all utilities, including electric, water, natural gas for the water heaters, and the gas range, as the property is serviced by one electric meter and one water meter. With an estimated 6.5 capitalization rate, this property presents an outstanding opportunity for investors seeking dependable income, excellent location, and long-term appreciation potential. Properties like this—fully leased, income-producing multifamily investments in Historic Downtown New Smyrna Beach—rarely become available. Schedule your private showing today.

Facts & features

Interior

Bedrooms: 4
Bathrooms: 3
Living area: 2,824 sqft
Heating: Central, Electric
Cooling: Central Air
Flooring: Tile, Wood
Fireplace: Yes
Stories: 2
Features: Living Room/Dining Room Combo, Primary Bedroom Main Floor
Appliances: Dishwasher, Dryer, Electric Water Heater, Gas Water Heater, Microwave, Refrigerator…

Exterior & lot

Lot size: 7,500 sqft (0.17 ac)
Roof: Shingle
Construction: Frame
Exterior: Courtyard, Private Mailbox, Sidewalk

Financial

Annual tax: $4,590 (2025)
Price / sqft: $262/sqft

Utilities

Water: Public
Sewer: Public Sewer
Utilities: Cable Connected, Electricity Connected, Sewer Connected, Water Connected

Property

Property type: Single Family
Year built: 1913
Subdivision: ANDREWS
County: Volusia

Assigned schools

Elementary: Read Pattillo Elem
Middle: New Smyrna Beach Middl
High: New Smyrna Beach High

Listing

Status: Active
Days on market: 3 days
MLS #: MFR799504939
Source: Stellar MLS

Listed by Bryan Disbrow · COLLADO REAL ESTATE

Listing data provided by Stellar MLS. Information deemed reliable but not guaranteed.

RRENA ValiQEstimate

Sample estimate — not an appraisal

$746k

+0.8% vs asking

$701k low$790k high

Based on 17 comparable sales within 4 miles of NEW SMYRNA BEACH, FL. priced in line with RENA ValiQ.

Reference only. Estimates blend public sale comps, neighbourhood trend and the listing’s own metrics. Final price moves on diligence, terms and timing — RENA is your second read, not your agent.

Estimate your monthly cost

PITI + HOA

Down payment (%)

Interest rate (%)

Loan term (yrs)

Property tax (% / yr)

Home insurance ($ / yr)

HOA dues ($ / mo)

Estimated monthly payment$4,693/mo

Principal & interest: $3,938/mo
Property tax: $555/mo
Home insurance: $200/mo

Tax, insurance and HOA are editable estimates with Florida-typical defaults — Florida homeowners insurance in particular varies widely by location and elevation. Confirm exact figures with a lender and insurer.