North Bay Island Homes for Sale

North Bay Island is a luxury community in North Bay Village, Miami-Dade County, Florida. Properties are priced from $2,200,000 to $9,000,000. Pure Equity lists homes in North Bay Island and represents buyers. Commission is negotiable, and what we are paid is agreed with you in writing before you commit to anything.

Pure Equity Realty covers North Bay Island and the North Bay Village area. We list for 1%, which includes photography, MLS syndication, and negotiation support. Buyers pay nothing for representation. For current market data, see Florida Realtors' market statistics.

Our MLS feed shows 4 North Bay Island North Bay Village homes for sale as of October 2026. The median asking price is $3.54M. Asking prices run from $1.79M to $12M.

That is 725% above the North Bay Village median of $430,000. On a per-foot basis, homes here ask about $1,036 per square foot, compared with $436 across North Bay Village. So the median price buys roughly 3,400 square feet of living area.

Listings here have averaged 53 days on the market. That is faster than the North Bay Village average of 200 days. As a result, buyers here should be ready to write an offer soon after a showing.

Homes listed in North Bay Island date from 1956 to 2026. That puts them between 0 and 70 years old.

The range straddles 2002, when Florida adopted its statewide building code. Therefore two similar-looking homes here can carry very different insurance premiums. Ask for the wind mitigation report on any home you consider, since it drives much of that difference.

In addition, most Florida insurers ask for a four-point inspection on homes 30 years or older. It covers the roof, electrical, plumbing and HVAC. Updated systems usually make coverage easier to place.

At a median near $3.54M, North Bay Island sits in the luxury tier of North Bay Village. Jumbo financing and proof of funds usually come up early in these negotiations.

Rentals in North Bay Island have a median asking rent of $8,000 per month, across 3 active rental listings. For comparison, the North Bay Village median is $2,800, so rents here run 186% higher.

For investors, those medians imply a gross yield near 2.7% a year. However, that figure comes before HOA dues, property tax, insurance and vacancy. Also check the association documents first, because many Florida HOAs cap leases or set minimum terms.

You can browse current North Bay Village rentals or ask us for a rent estimate on a specific North Bay Island home.

Here is what the median North Bay Island price means in Florida closing terms. At $3.54M, a 20% down payment comes to about $709,000, leaving a loan near $2.84M.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $9,925. Next, the intangible tax of 0.2% adds about $5,671. Buyers normally pay both at closing.

On the seller side, Miami-Dade charges deed stamps of 60 cents per $100 on a single-family home, about $21,267 at this price. Condos and other property types pay a higher rate.

Finally, owner-occupants should file for the Florida homestead exemption by March 1. It removes up to $50,000 of assessed value. After that, Save Our Homes caps yearly assessment increases at 3% or inflation, whichever is lower. To see what these numbers mean for your budget, get pre-approved before you tour.

Recent North Bay Island listings show assignments to Treasure Island (elementary), Miami Beach Nautilus (middle) and Miami Beach (high). However, boundaries can change each year, so confirm the assignment for a specific address with Miami-Dade County Public Schools.