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For sale
    • Price cut: $35K (10/16)
    $1,064,000

    246 Lake Magnolia Way, Smithfield, NC 27577

    4beds
    4,597sqft
    : 
    $6,739/mo
    Get pre-qualified
    Single Family Residence
    Built in 2016
    2.91 Acres Lot
    $1,034,600 Zestimate®
    $231/sqft
    $158/mo HOA

    What's special

    Energy-efficient constructionSun-filled interiorsGourmet kitchenPrivate lakefront livingFive-zone hvacExpansive livingCarefully considered insulation
    Nearly 3 Acres. Private Lakefront Living. Room to Create Your Dream Backyard. An Extraordinary Lifestyle Awaits. Welcome to 246 Lake Magnolia Way, where luxury, privacy, and adventure come together in one remarkable property. Nestled on 2.91 acres within a gated Smithfield lake community, this exceptional custom-built estate offers something increasingly difficult to find: expansive living, premium craftsmanship, outstanding recreational amenities, and the freedom to make the property truly your own. Imagine your own resort-style pool, additional garage or workshop, and spectacular outdoor entertaining space! With the septic drain field located on a separate dedicated septic lot, the nearly three-acre homesite offers exciting possibilities for future improvements, subject to applicable approvals. Whether you envision a sparkling pool, space for your automotive collection, or your own private backyard oasis, the opportunity to customize your lifestyle is exceptional. And then there's the lake! Experience a community centered around a premier water ski lake, where recreation is part of everyday life. Enjoy access to the HOA's shared community boat for water skiing and other permitted lake activities, including wakeboarding and tubing. Fishing, paddleboarding, swimming, and relaxing at the sandy beach offer even more ways to enjoy the water. Volleyball, tetherball, a playground, and over three miles of scenic walking trails bring additional opportunities for recreation and connection. With surrounding HOA-owned land and breathtaking lake sunsets, this private setting feels like a retreat from the everyday. Inside, approximately 4,597 square feet of thoughtfully designed living space deliver comfort, elegance, and functionality. Sun-filled interiors, generous gathering spaces, and a gourmet kitchen create the perfect setting for entertaining. Two spacious primary suites, including one on the main level, offer incredible flexibility for multigenerational living, extended guests, or anyone seeking additional privacy. Enjoy your own dedicated media room, an exceptional three-car garage with heating, cooling, and high ceilings, and impressive construction features throughout. Five-zone HVAC, heat recovery ventilation systems, energy-efficient construction, and carefully considered insulation reflect the quality and attention to detail behind this extraordinary home. Privacy without sacrificing convenience! Enjoy the peaceful setting of Lake Magnolia while remaining close to downtown Smithfield, with convenient access to Downtown Raleigh, Raleigh-Durham International Airport (RDU), and Johnston Regional Airport. Whether commuting, traveling, or enjoying everything the Triangle has to offer, this location connects your private retreat to the places that matter. This is more than a home. It's lake life, luxury living, and room to grow—all in one extraordinary property. Schedule your private showing and experience it for yourself!
    217 days
    533
    50

    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: $231/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

        $1,034,600

        $983,000 - $1.09M

        $3,893/mo

        Price history

        DateEventPrice
        10/16/2026Price change$1,064,000-3.2%$231/sqft
        Source: Doorify MLS #10153152 Report a problem
        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.
        See how much you could borrow to make a competitive offer.
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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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