First called Dodson' Landing by the 1820s after John Dodson who operated a woodyard for steamboats. In the 1830s Jesse Martin too over the woodyard and it then became Martin's Landing. He owned a widely regarded coon-dog named Rono. When the dog died it was buried near the center of the docking area. For years boatmen would caution to watch out for old Rono when docking.

The Job Hatfield family arrived with a store boat around 1842. He became the post master when the post office, named Rono, was opened on 29 July 1857. On 24 February 1899 the name was changed to magnet; the office was discontinued in the early 1990s.

In 1857 the Hatfields built a stone building which was used as a smoke house in which they processed meat for sale on a commercial scale. This continued into the mid-1870s. The foundation for this structure is the foundation for the house on the upstream end of magnet.

Slaughtering the animals for smoking left nearly half of the carcass as offal. When this thawed and ripened in the early Spring a large colony of buzzards arrived for the feast. Thus the origin for the name, Buzzards Roost, for the hill upstream from Magnet.