Magnetic drug targeting is a technique that involves the binding of medicine to magnetizable particles to allow for more specific transport to the target location. This has recently come to light as a method of drug delivery that reduces the disadvantages of conventional, systemic treatments. This study developed a mathematical model for tracking individual superparamagnetic nanoparticles in blood flow in the presence of an externally applied magnetic field. The model considers the magnetic attraction between the particles and the external magnet, influence of power law flow, diffusive interaction between the particles and blood, and random collisions with red blood cells. A stochastic system of differential equations is presented and solved numerically to simulate the paths taken by particles in a blood vessel. This study specifically focused on localized cancer treatment, in which a surface tumor is accessed through smaller blood vessels, which are more conducive to this delivery method due to slower flow velocities and smaller diameters. The probability of the particles reaching the tumor location is found to be directly dependent on ambient factors; thus, diffusion through Brownian motion and red blood cell collisions, different magnetic field and force models, blood viscosities, and release points are considered.