TROPICAL ISLE HOMES SUB 3
501 Bay Lane, Key Biscayne FL 33149
5 beds · 4.5 baths · 4,759 ft²
$5,990,000
Est. Payment $31,881/mo
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.
SOLD$5,790,000
5 bd · 5 ba · 4,444 sqft
375 Harbor Ln, Key Biscayne FL 33149
SOLD$5,999,000
5 bd · 7 ba · 3,791 sqft
201 Buttonwood Dr, Key Biscayne FL 33149
SOLD$5,750,000
5 bd · 6 ba · 3,827 sqft
345 Gulf Road, Key Biscayne FL 33149
SOLD$6,399,000
5 bd · 6 ba · 3,584 sqft
100 Hampton Ln, Key Biscayne FL 33149
SOLD$6,495,000
5 bd · 6 ba · 3,525 sqft
261 Greenwood Dr, Key Biscayne FL 33149
SOLD$5,899,999
6 bd · 5 ba · 3,584 sqft
762 Fernwood Rd, Key Biscayne FL 33149

$5,200,000
5 bd · 5 ba · 3,535 sqft
797 Glenridge Rd, Key Biscayne FL 33149
SOLD$5,799,000
4 bd · 4 ba · 3,382 sqft
669 S Mashta Dr, Key Biscayne FL 33149
Market insights for Key Biscayne
Live MLS-derived activity. Forecast is a conservative rule-of-thumb estimate — not a guarantee.
Sellers market
August 2026
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).
| 8/24/2026 | Listed 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
Estimated Monthly Payment
$37,023/mo
Principal & Interest
$31,881
Property Tax
$4,992
Insurance
$150
HOA
$0
Estimates only. Actual payment depends on credit, lender, insurance carrier, and FL/Miami-Dade specifics. Contact Rangely for a precise quote.
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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