


$739,900
407 Magnolia Street
New Smyrna Beach, FL 32168
Listing updated: August 2, 2026 at 3:06 PM ET
Property type
Year built
Lot size
Price / sq ft
HOA dues
Days on market
Flood zone
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.
Estimated monthly payment
Estimate only. Taxes use the listing's reported amount where available; insurance is a Florida-average estimate. Your actual payment will vary — run a full calculation or talk to a lender.
Price & listing history3 days on market
- Status: ActiveJul 31, 2026
- Listed$739,900Jul 30, 2026
- Price increased$739,900
Facts & features
- Property type
- Residential
- Sub type
- Single Family Residence
- Status
- Active
- Days on market
- 3
- Subdivision
- Andrews
- County
- Volusia
- Year built
- 1913
- Living area
- 2,824 sq ft
- Price/sq ft
- $262
- Building area
- 3,064 sq ft (Public Records)
- Lot size
- 7,500 sq ft
- Lot category
- 0 to less than 1/4
- Flood zone
- X (12127C0543J)
- Annual taxes
- $4,590 (2025)
- Parcel #
- 744138040630
- Zoning
- R5
- MLS #
- NS1088689
Ask about this home
Have a question? Ask the broker directly.
Ryan Solberg answers personally — no call center, no spam. Your question goes straight to him.
Interior Details
- Bedrooms
- 4
- Full bathrooms
- 3
- Flooring
- Tile, Wood
- Appliances
- Dishwasher, Dryer, Electric Water Heater, Gas Water Heater, Microwave, Refrigerator, Washer
- Interior features
- Living Room/Dining Room Combo, Primary Bedroom Main Floor
- Laundry
- Common Area, Inside
- Stories / Levels
- Multi/Split
- Direction faces
- West
- Fireplace
- Yes
Heating & Cooling
- Heating
- Central, Electric
- Cooling
- Central Air
Parking
- Parking features
- Curb Parking, Driveway, Off Street
HOA & Financial
- Total monthly fees
- $0/mo
- Total annual fees
- $0
- CDD
- No
- Min lease term
- 1-7 Days
- Listing terms
- Cash, Conventional, Trade, Owner Financing
- Ownership
- Fee Simple
- Available for lease
- Yes
- Lease restrictions
- No
- Additional lease restrictions
- NA
- Approval process
- NA
Exterior & Construction
- Exterior features
- Courtyard, Private Mailbox, Sidewalk
- Construction materials
- Frame
- Roof
- Shingle
- Foundation
- Crawlspace
- Road surface
- Asphalt
Utilities
- Sewer
- Public Sewer
- Water source
- Public
- Utilities
- Cable Connected, Electricity Connected, Sewer Connected, Water Connected
Community
- Pets allowed
- Cats OK, Dogs OK
Schools
Letter grades: Florida DOE 2024–25 school grades (Orange, Seminole, Lake, Osceola, Brevard). Assigned schools from the listing agent — verify enrollment with the district.
Room Details
| Room | Level | Dimensions |
|---|---|---|
| Primary Bedroom | First | 12x12 |
| Primary Bathroom | First | 7x5 |
| Living Room | First | 16x13 |
| Dining Room | First | 12x12 |
| Kitchen | First | 12x8 |
Listing Details
- Listing date
- 2026-07-30
- On market date
- 2026-07-30
- Original list price
- $739,900
- Occupant type
- Tenant
- MLS area
- 32168 - New Smyrna Beach
- Listing AOR
- New Smyrna Beach Board of Realtors
- Status changed
- 2026-07-31
- Tax legal description
- 41-17-34 S 3/4 OF LOT 63 & N 11.75 FT OF LOT 64 BLK 4 ANDREW S PROPERTY NEW SMYRNA MB 1 PG 128 MB 2 PG 68 MB 12 PG 183 MB 17 PG 79 PER OR 3136 PG 0896 PER OR 8070 PG 2163 PER OR 832
Flood risk
Minimal-risk area outside the mapped floodplain. Flood insurance is optional and typically low-cost.
Source: FEMA flood zone reported on the listing. Confirm current designation at FEMA Flood Map Service Center.
Location
Directions
From US head E on Canal Street to Magnolia, turn right head S to 407 on the left just pass the overpass
More homes like this

$547,000
4670 Links Village Dr #B301
Ponce Inlet, FL 32127
3 bd · 3 ba · 2,195 sqft
Harbour Village Condo
MLS ID #FC317980, ADAMS, CAMERON & CO., REALTORS.
Listing provided by Stellar MLS

$669,000
82 Jennifer Cir
Ponce Inlet, FL 32127
3 bd · 3 ba · 1,860 sqft
Seymour Unrec 251 6430 06
MLS ID #V4949613, RE/MAX SIGNATURE.
Listing provided by Stellar MLS

$665,000
702 Ocean Ave
New Smyrna Beach, FL 32169
2 bd · 1 ba · 1,173 sqft
Detwilers N 650 Ft Lt 02 16 17 34 New Smyrna Beach
MLS ID #NS1087771, MG REAL ESTATE GROUP.
Listing provided by Stellar MLS

$1,150,000
1902 Kings
New Smyrna Beach, FL 32168
3 bd · 2 ba · 1,903 sqft
Florida Days Ph 01
MLS ID #NS1088880, LOCAL LIVING REALTY GROUP.
Listing provided by Stellar MLS
Listings courtesy of Stellar MLS as distributed by MLS GRID
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Based on information submitted to the MLS GRID as of August 2, 2026 at 3:06 PM ET. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
All or a portion of the multiple listing information is provided by Stellar MLS, from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2026 Stellar MLS. All rights reserved.
Ryan Solberg, Broker · MaxLife Realty LLC · FL License #BK3354351 · Equal Housing Opportunity · Full disclaimer · DMCA