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For sale
    • Price cut: $40K (7/29)
    $1,099,000

    246 Lake Magnolia Way, Smithfield, NC 27577

    4beds
    4,597sqft
    : 
    $6,594/mo
    Get pre-qualified
    Single Family Residence
    Built in 2016
    2.91 Acres Lot
    $1,066,200 Zestimate®
    $239/sqft
    $158/mo HOA

    What's special

    Premier water ski lakeEnergy efficient constructionMultiple primary suitesWide open spaceNearly three private acresNatural beautyBreathtaking sunset views
    Welcome Home where refined living meets a true water driven lifestyle. Set on nearly three private acres within one of Smithfield's most exclusive lake communities, this custom-built estate offers a rare blend of luxury, recreation, and preserved natural surroundings. Centered around a premier water ski lake, this community was designed for those who crave life on the water. And here, access comes easy. The HOA provides a shared community boat, allowing you to fully enjoy water skiing along with boating, fishing, paddle boarding, wakeboarding, swimming, and tubing without the expense or upkeep of ownership. A sandy beach area invites laid-back afternoons by the water, while community amenities like volleyball, tetherball, and a playground create space for connection, activity, and fun for all ages. Beyond the lake, over 3 miles of scenic trails wind throughout the community perfect for morning walks or evening runs while breathtaking sunset views reflect across the water each night. Surrounded by HOA owned land, the setting offers a heightened sense of privacy, protection, and long-term tranquility that's increasingly hard to find. Inside, every detail reflects intentional design and elevated comfort. Expansive, light filled living spaces flow effortlessly into a gourmet kitchen built for gathering. Multiple primary suites provide flexibility for multigenerational living or hosting guests with ease. Advanced smart tech HVAC zoning, HRV systems, and energy efficient construction ensure year round comfort, performance, and peace of mind. Outdoors, the experience continues wide open space, natural beauty, and a sense of retreat without isolation all just minutes from downtown Smithfield and a convenient drive to Raleigh. This isn't just a home. It's a private retreat. It's a water ski lifestyle. It's the life you've been working toward.
    171 days
    480
    24

    Zillow last checked:

    Listing updated:

    Listed by:

    Ashley Ledin Frost 480-745-4237,

    Choice Residential Real Estate

    Source: Doorify MLS,MLS#: 10153152MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 4
      • Bathrooms: 4
      • Full bathrooms: 3
      • 1/2 bathrooms: 1
      • Main level bathrooms: 2
      • Main level bedrooms: 1
      Primary bedroom
      • Level: Main
      • Area: 296.18 Square Feet
      • Dimensions: 17.25 x 17.17
      Bedroom 2
      • Description: Second Primary
      • Level: Second
      • Area: 360.57 Square Feet
      • Dimensions: 17.17 x 21.0
      Bedroom 3
      • Level: Second
      • Area: 132.24 Square Feet
      • Dimensions: 11.58 x 11.42
      Bedroom 4
      • Level: Second
      • Area: 301.67 Square Feet
      • Dimensions: 21.17 x 14.25
      Den
      • Level: Main
      • Area: 171.24 Square Feet
      • Dimensions: 11.17 x 15.33
      Dining room
      • Level: Main
      • Area: 198.28 Square Feet
      • Dimensions: 11.33 x 17.5
      Family room
      • Level: Main
      • Area: 270 Square Feet
      • Dimensions: 17.33 x 15.58
      Kitchen
      • Level: Main
      • Area: 169 Square Feet
      • Dimensions: 13.0 x 13.0
      Media room
      • Description: Bonus Room
      • Level: Second
      • Area: 523.69 Square Feet
      • Dimensions: 36.75 x 14.25
      Heating
      • Fireplace(s), Heat Pump
      Cooling
      • Central Air, Ceiling Fan(s), Humidity Control, Zoned
      Appliances
      • Included: Bar Fridge, Dishwasher, Gas Oven, Gas Range, Stainless Steel Appliance(s), Tankless Water Heater, Wine Cooler
      • Laundry: Laundry Room, Main Level
      Features
      • Bookcases, Ceiling Fan(s), Crown Molding, Double Vanity, Eat-in Kitchen, High Ceilings, Kitchen Island, Pantry, Primary Downstairs, Smart Thermostat, Soaking Tub, Storage, Walk-In Closet(s), Walk-In Shower, Quartz Counters, Smooth Ceilings
      • Flooring: Carpet, Ceramic Tile, Wood
      • Number of fireplaces: 1
      • Fireplace features: Family Room, Wood Burning
      Interior area
      • Total structure area: 4,597
      • Total interior livable area: 4,597 sqft
      • Finished area above ground: 4,597
      • Finished area below ground: 0

      Property

      Parking
      • Total spaces: 3
      • Parking features: Garage
      • Garage spaces: 3
      Features
      • Levels: Two
      • Stories: 2
      • Patio & porch: Covered, Deck, Front Porch, Screened
      • Exterior features: Outdoor Shower, Rain Gutters, Storage
      • Has view: Yes
      • View description: Trees/Woods
      • Waterfront features: Lake, Lake Privileges
      • Body of water: Lake Magnolia
      • Frontage type: Lakefront
      Lot
      • Size: 2.91 Acres
      • Features: Back Yard, Front Yard, Landscaped, Many Trees, Wooded, Hardwood Trees, Partially Cleared
      Details
      • Additional structures: Poultry Coop, Shed(s), Storage
      • Parcel number: 15H08002G
      • Zoning: RAG
      • Special conditions: Standard
      • Other equipment: Dehumidifier, Home Theater

      Construction

      Type & style
      • Home type: SingleFamily
      • Architectural style: Farmhouse,Modern
      • Property subtype: Single Family Residence
      Materials
      • HardiPlank Type, Stone
      • Foundation: Crawlspace
      • Roof: Composition,Metal,Shingle
      Condition
      • New construction: No
      • Year built: 2016

      Utilities & green energy

      • Sewer: Septic Tank
      • Water: Public

      Community & HOA

      Community
      • Features: Fishing, Gated, Lake, Playground
      • Security: Gated Community, Secured Garage/Parking, Smoke Detector(s)
      • Subdivision: Lake Magnolia
      HOA
      • Has HOA: Yes
      • Amenities included: Boating, Boat Dock, Gated, Jogging Path, Playground, Stream Seasonal, Trail(s)
      • Services included: Maintenance Grounds, Road Maintenance
      • HOA fee: $1,900 annually
      • HOA name: Lake Magnolia
      • HOA phone: 919-457-2317
      Location
      • Region: Smithfield

      Financial & listing details

      • Price per square foot: $239/sqft
      • Tax assessed value: $750,540
      • Annual tax amount: $4,765
      • Date on market: 3/16/2026
      • Listing agreement: Exclusive Right To Sell
      • Listing terms: Cash,Conventional,FHA,USDA Loan,VA Loan
      • Road surface type: Asphalt

        Estimated market value

        $1,066,200

        $1.01M - $1.12M

        $4,281/mo

        Price history

        DateEventPrice
        7/29/2026Price change$1,099,000-3.5%$239/sqft
        Source: Doorify MLS #10153152 Report a problem
        6/9/2026Price change$1,139,000-0.5%$248/sqft
        Source: Doorify MLS #10153152 Report a problem
        3/16/2026Listed for sale$1,145,000$249/sqft
        Source: Doorify MLS #10153152 Report a problem
        3/16/2026Listing removed$1,145,000$249/sqft
        Source: Doorify MLS #10138891 Report a problem
        3/1/2026Price change$1,145,000-0.4%$249/sqft
        Source: Doorify MLS #10138891 Report a problem
        1/2/2026Listed for sale$1,150,000+557.1%$250/sqft
        Source: Doorify MLS #10138891 Report a problem
        7/15/2010Sold$175,000$38/sqft
        Source: Public Record Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$4,766 +7.3%$750,540 +36.9%
        2024$4,442 +1.9%$548,420
        2023$4,360 -4.8%$548,420
        2022$4,579 +3.1%$548,420
        2021$4,442 -3.6%$548,420
        2020$4,607 $548,420
        2019$4,607 -0.5%$548,420 +1.9%
        2018$4,628 $538,120
        2017$4,628 $538,120 +102.9%
        2016$4,628 +216.5%$265,200 +56%
        2015$1,462 $170,000
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
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        Climate risks

        Neighborhood: 27577

        Getting around

        0 / 100
        Car-Dependent
        8 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: Johnston - West Smithfield Elementary
        • Middle: Johnston - Smithfield Middle
        • High: Johnston - Cleveland High School

        Source: Doorify MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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