SOLD JUL 20, 2026

Sold on Jul 2026

$38,000

Land

•

1.61

acres (lot)

Lot 1 Payment Lake Rd, Mercer, WI 54547

About this home

Payment Lake - Discover an affordable opportunity to own waterfront property in the heart of the Northwoods on beautiful Payment Lake! This scenic 1.61-acre parcel offers 353 feet of frontage with peaceful lake views, a driveway already in place, a cleared building site, level land, and year-round access on a town road, making it ready for your future cabin, garage, camper, or recreational getaway. The shoreline is naturally wet and boggy, offering boardwalk potential leading to the water’s edge. Enjoy the privacy and tranquility of 66-acre Payment Lake, a hidden gem with no public boat access and known for excellent Musky, Walleye, Bass, Northern & Panfish fishing. Outdoor enthusiasts will love the quiet location with easy access to ATV & snowmobile trails, plus nearby State & Iron County Forest Lands for endless recreation opportunities. Conveniently located just a few miles from Mercer for shopping, dining, and year-round events. Start enjoying Northwoods lake life today at an affordable price!

Vacant landProperty Type

1.61 acresLot Size

$23,602Price/Acres

Listed by KATHY TUTT • RE/MAX ACTION NORTHWOODS REALTY, LLC

Bought with KATHY TUTT • RE/MAX ACTION NORTHWOODS REALTY, LLC

Redfin checked: a few seconds ago

•Source:GNMLS #217430

Redfin Estimate

$53,631

$16K since sold in July 2026$4,000 since July

Recently sold homes
Estimate history
Homes for sale

This home's estimate is 89.7% lower than the average sale price ($520K) of 6 comparable homes.

SOLD APR 10, 2026
$34,500
A
Land— sq ft
Lot 2 Mercer Lake Cir S, Mercer, WI 54547
SOLD AUG 7, 2026
$570,000
B
2 beds1 bath1,568 sq ft
4097W Cth G, Hurley, WI 54534
SOLD AUG 3, 2026
$280,000
C
2 beds1 bath864 sq ft
6274N Bambiland Rd, Mercer, WI 54547
SOLD JUL 30, 2026
$650,000
D
1 bed1 bath716 sq ft
5769 Rest Bay Ln, Manitowish Waters, WI 54545
SOLD JUN 15, 2026
$809,000
E
2 beds2 baths1,742 sq ft
7353 Cth Rd W, Presque Isle, WI 54557
SOLD AUG 14, 2026
$777,300
F
3 beds2 baths1,842 sq ft
7101 Island View Rd, Winchester, WI 54557

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Market trends in 54547, WI

Last updated July 2026

Buyer's Market

Seller's Market

Balanced market

Sale-to-List Price

98.8%

2.0% MoM

Median sale price

$482K

$109 MoM

Avg. days on market

66d

0 days MoM

Recently sold homes

2 MoM

New listings for sale

NEW 2 HRS AGO
$369,000
3 beds1 bath950 sq ft
3844W Cth Ff, Mercer, WI 54547
$564,900
3 beds2.5 baths2,131 sq ft
4632 Lake Of The Falls Rd W, Mercer, WI 54547
$210,000
2 beds2 baths700 sq ft
5251 Statehouse Cir N, Mercer, WI 54547
$399,900
3 beds1.5 baths2,328 sq ft
2560 W Mercer Lake Cir, Mercer, WI 54547
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Sale and tax history for Lot 1 Payment Lake Rd

Sale History
Tax History

Date

Event

Price

GNMLS #217430

Jul 20, 2026

Sold

$38,000

Jul 1, 2026

Pending

—

Jun 8, 2026

Contingent

—

May 28, 2026

Listed

$39,000

GNMLS #189432

Dec 9, 2021

Sold

$23,000

Mar 5, 2021

Listed

$24,800

+13

Payment Lake - Affordable waterfront property with beautiful views of Payment Lake. Has a driveway area, cleared site and plenty of room for your cabin, garage or camper to start enjoying the beautiful Northwoods area now! It has 344 ft of shoreline, 1.61 acres of level land and year round access on a town road. The shoreline along the lake is wet & boggy; for board-walk potential to Payment Lake being 66 acres, 17 ft depth known for its Musky, Panfish, Bass, Northern & Walleye fishing, and no public boat assess. Quiet area with easy access to ATV & Snowmobile trails, plus only a few miles to Mercer and State & Iron County Forest Lands! Adjoining property available too. $24,800.

Public record

Beds

—

Baths

—

Stories

—

Lot width

—

Lot depth

—

Lot size

—

Year renovated

—

Sq. Ft.

—

Year built

—

Style

Vacant Land

County

Iron County

APN

—

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Feb 22, 2023.

Property details

Parking

Parking/Garage Information
Parking Features: Gravel, Driveway

Interior

Virtual Tour

Exterior

Building Information
Sq. Ft.: 0

Property Features
On Waterfront
Waterfront Features: Lake Front
Has View

Property Information
Property Type: Land

Lot Information
Lot Features: Level, Private, Secluded, Wooded, Waterfront
Frontage Type: Lakefront
Frontage Length: 353
Water Body Name: PAYMENT
Zoning Description: Residential

Financial

Tax Information
Tax Annual Amount: $381

Utilities

Utility Information
Utilities: Electricity Available

Location

Schools Information
Elementary School: IR Mercer
Middle Or Junior School: IR Mercer
High School: IR Mercer

Location Information
Directions: Hwy 51 N 2 blocks to Rt on Hwy J. Go 2.8 miles to Left on Payment Lake Road. Go 2 blocks to office sign on the left.

Public facts

Beds: —
Baths: —
Sq. Ft.: —
Stories: —
Lot Size: —
Style: Vacant Land
Year Built: —
Year Renovated: —
County: Iron County
APN: —

Home facts updated by county records on Feb 22, 2023

Around this home

Schools

Mercer School

Public PreK-12 • Assigned • 2.5mi

6/10

Provided by GreatSchools

Climate risks

1/10 Flood Factor

Minimal risk of a flood reaching the building in the next 30 years

1/10 Fire Factor

Unlikely to be in a wildfire in next 30 years

1/10 Heat Factor

7 days above 91° expected this year, 13 days in 30 years

1/10 Wind Factor

Minimal risk of severe winds over next 30 years

1/10 Air Factor

0 unhealthy days expected this year, 0 days in 30 years

Provided by First Street

Historical weather

Mercer, WI • 54547

Average low and high temperatures (°F)

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

27/ 100

Low sunlight

Sunscore

There appears to be significant shading by surrounding buildings, terrain, and vegetation.

5.3 hrs

0.3 hr

JuneDecember

Provided by Shadowmap

Is this your home?

Track this home’s value and nearby sales activity

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New listings for sale in 54547

NEW 2 HRS AGO

$369,000

3 beds1 bath950 sq ft

3844W Cth Ff, Mercer, WI 54547

$564,900

3 beds2.5 baths2,131 sq ft

4632 Lake Of The Falls Rd W, Mercer, WI 54547

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Home values near Lot 1 Payment Lake Rd

Data from public records.

Address	Redfin Estimate
5875N Payment Lake Road, Mercer, WI 3 Beds \| 2.5 Baths \| 1600 Sq. Ft.	$583,205
5880N Payment Lake Road, Mercer, WI - Beds \| - Baths \| - Sq. Ft.	—

Address	Redfin Estimate
5873N Payment Lake Road, Mercer, WI - Beds \| - Baths \| - Sq. Ft.	—
5876N Payment Lake Road, Mercer, WI - Beds \| - Baths \| - Sq. Ft.	—

Address	Redfin Estimate
5856N Payment Lake Road, Mercer, WI - Beds \| - Baths \| - Sq. Ft.	—
5723N Payment Lake Road, Mercer, WI - Beds \| - Baths \| - Sq. Ft.	—

Property information provided by GNMLS when last listed in 2026. This data may not match . Learn more.

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