TROPICAL ISLE HOMES SUB 3

501 Bay Lane, Key Biscayne FL 33149

5 beds · 4.5 baths · 4,759 ft²

For Sale · Active Listing

$5,990,000

Est. Payment $31,881/mo

MLS Sheet

5

Bedrooms

4.5

Bathrooms

4,759

Sq. Ft.

1995

Year Built

2

Garage

0

Days on Market

Description

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

Facts

MLS#
A12074814
Subdivision
TROPICAL ISLE HOMES SUB 3
Property Type
Residential
Property Sub Type
Single Family Residence
Year Built
1995
Lot Size
10,000 ft²
Sq. Ft.
4,759 ft²
Sq. Mt.
442 m²
Price per sq. ft.
$1,259/ft²
Price per sq. mt.
$13,552/m²
Stories
Garage
2 spaces
Pool
Days on Market
Listed
Aug 24, 2026
Last Updated
Aug 24, 2026
Price/Lot Sq.Ft.
$599/ft²

Comparable homes

Same ZIP, similar price + bedrooms.

Market insights for Key Biscayne

Live MLS-derived activity. Forecast is a conservative rule-of-thumb estimate — not a guarantee.

Sellers market

August 2026

100/100
Buyers marketSellers market

49

Median days to sold

+4.5%

1-year price forecast (est.)

Price & tax history

From the live MIAMI MLS feed. Older history requires the ListingHistory resource (not yet enabled).

8/24/2026Listed for sale$5,990,000

History reflects fields present on the live MLS record. Full multi-year history requires the MIAMI ListingHistory resource (not yet enabled).

Location

501 Bay Lane, Key Biscayne FL 33149Directions

Estimated Monthly Payment

$37,023/mo

Principal & Interest

$31,881

Property Tax

$4,992

Insurance

$150

HOA

$0

20% ($1,198,000)
7.00%
30 years
1.00% (FL avg ~1.0%)
$0/mo
$150/mo

Estimates only. Actual payment depends on credit, lender, insurance carrier, and FL/Miami-Dade specifics. Contact Rangely for a precise quote.

Rangely Adames

Rangely Adames

Sales Associate | Sunland Group

Hablo Español

The data relating to real estate for sale on this website comes in part from the Southeast Florida Multiple Listing Service. MLS Data is deemed reliable, but is not guaranteed accurate by MIAMI REALTORS®.

Accuracy of listing information is not guaranteed. Listing information is provided for personal consumer, non-commercial use, solely to identify potential properties for potential purchase. All other use is strictly prohibited and may be a violation of federal and state law.

Copyright Southeast Florida MLS a/k/a SEFMLS © 2026.

Updated 18 hours ago

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