$5,990,000
501 Bay Lane
Key Biscayne, FL 33149
Explore the area: Key Biscayne homes for sale · Miami Dade County real estate
Price Check
How this price compares
- List price
- $5,990,000
- Price per sq ft
- $1,259
- Vs. nearby sales
- 37.3% below
- Days on market
- 30
This 5-bedroom single-family home in Tropical Isle Homes Sub 3 is listed at $5,990,000, or $1,259 per square foot. It has been on the market for 30 days. The 6 most recent single-family home sales in the closings shown below sold at a median of $2,009 per square foot, so the asking price is 37.3% below what comparable homes here actually sold for.
Estimated monthly payment
$31,480 /mo
Principal and interest only, based on $1,198,000 down (20%), a 6.875% 30-year fixed rate. Property taxes, homeowners insurance are not included.
Customize this estimateListing Snapshot
- Price
- $5,990,000
- Days on Site
- 30 Days
- Bedrooms
- 5
- Total Baths
- 5
- Full Baths
- 4
- Partial Baths
- 1
- Living Area
- 4,759 sqft
- Total Sq Ft
- 6,298 sqft
- Lot Size
- 0.23 Acres
- Year Built
- 1995
- Property Type
- Single Family
- MLS #
- A12074814
- Property Tax
- $24,587 (2025)
- Subdivision
- TROPICAL ISLE HOMES SUB 3
- County
- Miami Dade
- Status
- Active
- Special Conditions
- Listed As Is
About This Property
Prime location on one of Key Biscayne’s most exclusive residential streets, surrounded by some of the island’s most prestigious waterfront estates. An exceptional opportunity to own a substantial residence in the heart of Miami’s island paradise. Situated on a generous 10,000 SF lot, this light-filled home offers 4,759 SF of living space, five bedrooms, four full bathrooms and one half bathroom, providing wonderful space, privacy, and flexibility for today’s lifestyle. High ceilings and abundant natural light enhance the home’s generous proportions, while well-defined living, dining, and family areas create a comfortable and functional floor plan for both everyday living and entertaining. The interior spaces open to an expansive covered terrace, creating a natural connection to the outdoors and allowing for year-round enjoyment of South Florida living. Surrounded by lush, mature landscaping, the private backyard features a beautiful swimming pool and generous areas for outdoor dining, entertaining, and spending time with family and friends. Built in 1995 and complete with a garage, the residence can be enjoyed as it is today while offering endless possibilities to personalize and enhance over time. A rare opportunity to make this home your own while enjoying an exceptional address, privacy, and the extraordinary lifestyle that make Key Biscayne one of South Florida’s most desirable places to call home
General Features
- Property Type
- Single Family
- Status
- Active
- Year Built
- 1995
- Property Condition
- Resale
- Number of Stories
- 2
- Levels
- Two
- Garage Spaces
- 2
- Parking
- Circular Driveway / Covered / Driveway / Garage / Garage Door Opener
- Direction Faces
- North
- Lot Size (Acres)
- 0.23
- Living Sq Ft
- 4,759
- Total Sq Ft
- 6,298
- Sewer
- Public Sewer
- Water Source
- Public
- Zoning
- 2000
Interior Features
- Appliances
- Dryer / Dishwasher / Electric Range / Electric Water Heater / Microwave / Oven / Refrigerator / Washer
- Cooling
- Electric
- Heating
- Electric
- Flooring
- Ceramic Tile / Tile
- Interior Features
- Bidet / Built In Features / Bathtub / Dining Area / Separate Formal Dining Room / Dual Sinks / Main Level Primary / Soaking Tub / Separate Shower / Tub Shower / Upper Level Primary / Walk In Closets
- Windows
- Blinds / Drapes / Rods
- Furnished
- Unfurnished
Exterior Features
- Construction
- Block
- Roof
- Spanish Tile
- Exterior Features
- Outdoor Living Area
- Private Pool
- Yes
- Pool Features
- In Ground / Association
- Patio & Porch
- Patio / Porch
- View
- Garden
Community & HOA
- Association Amenities
- Fitness Center / Pool
- Pets Allowed
- Yes
- 55+ Community
- Yes
- Financing Terms
- Cash / Conventional
- Restrictions
- Ok To Lease
- MLS Area
- 2520
Schools
- Elementary School
- Key Biscayne K-8
- Middle School
- Ponce De Leon
- High School
- Coral Gables
About the Community
- Homes for Sale
- 10
- Under Contract
- 2
- Median List Price
- $6,445,000
- Median $/Sq Ft
- $1,791
- Avg Days on Market
- 172
Frequently Asked Questions
- How do I schedule a tour of 501 Bay Lane, Key Biscayne, FL 33149?
- Use the Tour button on this listing to request a showing of 501 Bay Lane, Key Biscayne, FL 33149. Pick a day and time and choose an in-person or video-chat tour, and a Pure Equity agent will confirm your visit, often the same day.
- Is 501 Bay Lane, Key Biscayne, FL 33149 still available?
- 501 Bay Lane, Key Biscayne, FL 33149 is currently listed as Active, and has been on the market 30 days. Status updates directly from the MLS as homes go under contract, so ask us to confirm availability before you plan a visit.
- How much is the monthly payment for 501 Bay Lane, Key Biscayne, FL 33149?
- With 20% down ($1,198,000) on the $5,990,000 list price and a 30-year fixed loan at an illustrative 6.875% rate, the estimated principal & interest for 501 Bay Lane, Key Biscayne, FL 33149 is about $31,480/mo, before property taxes, insurance. Use the payment estimate on this page to adjust the down payment and rate.
- How do I get pre-approved to buy 501 Bay Lane, Key Biscayne, FL 33149?
- Getting pre-approved shows sellers you're a serious buyer and clarifies your true budget before you offer on 501 Bay Lane, Key Biscayne, FL 33149. Contact Pure Equity and we'll connect you with a trusted local lender to review your financing options, no obligation.
- What schools serve 501 Bay Lane, Key Biscayne, FL 33149?
- 501 Bay Lane, Key Biscayne, FL 33149 is zoned for Key Biscayne K-8 (elementary), Ponce De Leon (middle), Coral Gables (high). School assignments and boundaries can change year to year, so confirm current zoning with the local school district before you buy.
- Can I negotiate the price of 501 Bay Lane, Key Biscayne, FL 33149?
- Often, yes. The right offer on 501 Bay Lane, Key Biscayne, FL 33149 depends on how it's priced against comparable single family sales in Key Biscayne, how long it's been listed, and how motivated the seller is. Pure Equity will run the comps and help you craft a competitive, well-supported offer.
Listing courtesy of One Sotheby's International Realty
Listing information is provided by BeachesMLS, Inc.and is deemed reliable but not guaranteed accurate by the MLS or Pure Equity. Information is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties. © 2026 BeachesMLS, Inc. Last updated August 30, 2026.
$5,990,000
Interested in This Property?
Contact us to schedule a showing or ask a question.
Own a home near this one? See what it would sell for today
Listed by Brigitte Nachtigall, One Sotheby's International Realty
Map & Location
Featured Communities
Cities in Miami-Dade County
Zip Codes in Miami-Dade County
Property Types
Recent Sales
Recently sold homes in Tropical Isle Homes Sub 3
These are the last 6 recorded closings in Tropical Isle Homes Sub 3, with the price each home actually sold for rather than what it was listed at. They closed at a median of $2,022 per square foot. The most recent closed on October 5, 2026. Closed sales are what an appraiser and a buyer's agent will look at, so they are the starting point for pricing a home here.
Sold$7,767,500
Sold · October 5, 2026
165 Hampton Lane
6 bed · 8.5 bath · 3,842 sqft · $2,022/sqft
$482,500 under the asking price
Sold$3,100,000
Sold · August 24, 2026
301 Hampton Lane
4 bed · 3 bath · 2,068 sqft · $1,499/sqft
$100,000 under the asking price
Sold$17,500,000
Sold · July 8, 2026
230 Harbor Drive
7 bed · 7.5 bath · 6,240 sqft · $2,804/sqft
$4,300,000 under the asking price
Sold$2,800,000
Sold · June 30, 2026
355 Redwood Lane
3 bed · 2 bath · 1,403 sqft · $1,996/sqft
$175,000 under the asking price
Sold$2,600,000
Sold · June 29, 2026
301 Redwood Lane
3 bed · 2 bath · 1,333 sqft · $1,950/sqft
$400,000 under the asking price
Sold$3,000,000
Sold · May 6, 2026
310 Greenwood Drive
3 bed · 2 bath · 1,304 sqft · $2,301/sqft
$400,000 under the asking price
See every recorded sale in Tropical Isle Homes Sub 3 or find out what your Tropical Isle Homes Sub 3 home is worth.
