7228 Mercer Is, Tower, MN, 55723
About This Home
Escape to your very own private & exceptional 7+ acre island nestled in the heart of Lake Vermilion's Frazer Bay. This exclusive property boasts a wealth of features that promise a truly extraordinary lakeside experience. Embrace the distinctive architectural charm of three stunning "Baker" Dome cabins, each offering a unique and cozy living space. Accommodate family & friends with ease in a spacious 1 BR guest cabin (with kitchen), plus a charming 1 BR bunkhouse, wet boathouse, & original ice house! All buildings have new roofs! Hike along the picturesque walking trail with boardwalks, that encircles the island, providing enchanting views & moments of serenity plus a natural sand beach! Convenience is key, & this property offers a rare mainland access including another boathouse! This property promises a lifetime of cherished memories. First time on the market!
Getting Around
Car-Dependent
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1981
Materials
- Roof: Asphalt Shingle,Rubber
- Construction materials: Wood,Asphalt,Other - See Remarks
Type & Style
- Home type: SingleFamily
- Architectural style: Other
- Property subType: Single Family Residence
Interior
Appliances
- Appliances included: Water Heater-Electric,Dishwasher,Microwave,Range,Refrigerator,Washer
- Laundry features: Main Level,Dryer Hook-Ups,Washer Hookup
Basement
- Basement: N/A
Bathroom
- Level: Upper
- Area: 54
- Dimensions: 9 x 6
Bedrooms & Bathrooms
- Bedrooms: 1
- Bathrooms: 2
- 3/4 bathrooms: 2
Dining Room
- Level: Main
- Area: 140
- Dimensions: 10 x 14
Family Room
- Level: Main
- Area: 576
- Dimensions: 24 x 24
Features
- Ceiling Fan(s),Natural Woodwork,Sauna,Vaulted Ceiling(s)
- Door features: Patio Door
- Window features: Skylight(s)
- Finished area below ground: 0
- Finished area above ground: 1,860
Great Room
- Level: Main
- Area: 432
- Dimensions: 16 x 27
Heating & Cooling
- Heating features: Electric
- Cooling features: Wall Unit(s)
Interior Area
- Total interior livable area: 1,860 sqft
Master Bedroom
- Level: Upper
- Area: 196
- Dimensions: 14 x 14
Office
- Level: Upper
- Area: 192
- Dimensions: 12 x 16
Other
- Level: Main
- Area: 348
- Dimensions: 29 x 12
Property
Details
- Parcel number: 387003101520; 387043036550
- Foundation area: 2262
Features
- Patio & porch: Deck
- Exterior features: Dock
- Has view: Yes
- View description: Inland Lake,Bay,Panoramic
- Has water view: Yes
- Water view: Lake,Bay
- On waterfront: Yes
- Waterfront features: Inland Lake,Waterfront Access(Private),Shoreline Characteristics(Gravel,Hard,Rocky,Sand,Undeveloped,Shore-Accessible,Elevation-Medium,Shore-Beach)
- Waterbody name: Vermilion
- Frontage length: 2880
Lot
- Lot size: 7 Acres
- Features: Accessible Shoreline,Tree Coverage - Medium,Zero Lot Line,BWCA Access,Island/Peninsula
- Lot size dimensions: 486 x 1080
Parking
- Parking features: Other,None
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Cold Wave
- Winter Weather
- Inland Flooding
- Heat Wave
- Lightning
- Wildfire
How This Home’s Risks Compare
FEMA Declared Disasters in St. Louis County and Minnesota
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $9,607 | $115,284 |
| Home Insurance * | $186 | $2,232 |
| Property Taxes | $968 | $11,616 |
| Electricity | $170 | $2,050 |
| Total | $10,931 | $131,172 |
Income You'd Need if You Spent...
Minnesota FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
No market data available for this area
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2025-11-04 | Listed for sale | $1,900,000 |
| 2025-10-29 | Listing removed | $1,900,000 |
| 2024-10-28 | Listed for sale | $1,900,000 |
| 2024-08-04 | Listing removed | $1,900,000 |
| 2024-01-31 | Listed for sale | $1,900,000 |
| 2023-11-28 | Listing removed | -- |
| 2023-11-08 | Listed for sale | $1,900,000 |
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