A country-club lifestyle built around eight lakes, a 20-acre central park, and the largest amenity center in North Texas, set on the rolling, oak-shaded hills of a former Dallas mayor's ranch.
Closed sales, last 3 months. Reach out for the most current numbers.
If Light Farms is the social, farmhouse-casual community, Mustang Lakes is its country-club cousin. The feel here is more estate, more nature, more quiet luxury. The land tells the story: this was once Twin Eagles Farms, the ranch of former Dallas Mayor Bob Folsom, and the developer built the master plan around what was already here rather than bulldozing it flat.
That means rolling hills instead of prairie, a canopy of mature live oaks relocated and preserved across the community, eight lakes, and winding creeks. You actually slow down driving through it. The centerpiece is The Club, the original Folsom ranch house reborn as a 12,000-square-foot amenity center overlooking a resort pool and a private lake with its own island.
Day to day, it lives like a resort. Residents work out in a fitness center with lake views, fish and walk the trails through 60-plus acres of open space, and gather at the amphitheater and event lawns. The developer calls it a new kind of country club, where instead of a golf course you get lakes, trails, and green space everyone can use.
One detail buyers love and competitors do not match: front-yard maintenance is included in the monthly HOA dues. Mowing, edging, seasonal trims, and fertilizer are handled for you, so your weekends are yours. The dues reflect the amenity level, which is the honest tradeoff, but for the right buyer the value is obvious.
Mustang Lakes is built around the largest amenity center in North Texas, anchored by the renovated Folsom ranch house. Instead of a golf course, the community leans into its natural setting: lakes, creeks, oaks, and open space you can actually use.
A 12,000 sq ft amenity center built from the historic Folsom ranch house, with lounges, meeting rooms, party spaces, and verandas overlooking the lake.
A junior Olympic lap pool plus a resort-style pool with waterfalls and cabanas, set against lake views from the clubhouse.
Hiking trails, mature relocated oaks, and a private 20-acre lake with its own island, fishing decks, and bridges at the heart of the community.
Eight lakes and several creeks with more than 60 acres of open space for fishing, hiking, and biking along an extensive trail system.
Four tennis courts plus basketball courts, kids' play equipment, and event lawns for everything from casual play to organized leagues.
A state-of-the-art fitness center with weights, cardio, and a separate studio overlooking the lake, plus an amphitheater for community events.
Mustang Lakes is large enough to span two highly rated districts. Most of the community sits in Prosper ISD, with Sam Johnson Elementary right inside the neighborhood. The newer northern sections fall into Celina ISD, served by the brand-new Margie Vasquez Elementary. Which one applies depends on your specific address, so always verify before you buy.
On-site, Prosper ISD. Kids can walk or bike to class.
Prosper ISD. Strong academics and a short drive from the community.
Prosper ISD. Confirm current zoning, as sections vary by phase.
Celina ISD. A brand-new K–5 campus that opened for the 2025–26 year.
Celina ISD. Earned an 'A' rating in the most recent TEA report.
Celina ISD. Known for strong academics and a storied athletics tradition.
A campus about eight minutes away for dual-credit and continuing education.
Several private school options within a short drive for families who prefer that route.
Because Mustang Lakes spans two districts, zoning is address-specific. Ask me to confirm for the exact home you are considering.
Mustang Lakes is still actively building across a wide range of lot sizes, from 40-foot rear-entry homesites up to one-acre custom sites. Each builder runs different floor plans, price points, and incentives. I can tell you who is delivering the strongest product right now and which sections still have inventory.
Texas-built quality with strong standard features. A community favorite for move-up family floor plans.
The luxury arm of Highland Homes and a primary builder here, known for custom-feel craftsmanship and upgrade options.
A Texas institution with flexible, livable floor plans and a long reputation for value and quality.
Award-winning national builder known for design flexibility, energy efficiency, and strong customer care.
Mid-to-luxury price points, known for layout flexibility and elevated standard finishes.
Part of the Perry family of builders. Reliable build quality and well-designed family layouts.
Regional builder focused on quality construction and approachable, family-friendly designs.
Select custom builders work the one-acre+ homesites for buyers who want a fully bespoke estate home.
Here is the honest version. If you see yourself on the left, this community will feel like home. If you see yourself on the right, I have other neighborhoods that will serve you better.
"Mustang Lakes is the community I show buyers who want that estate, country-club feel without leaving the convenience of a master-plan. The setting does the heavy lifting here, the lakes and the oaks are real, not staged. When we tour, I will show you which villages and lot sizes actually match your budget and how the two school districts shake out for your address."
Mustang Lakes trades across a wide range, from the $500s for smaller-lot homes up past $3.5 million for one-acre custom estates. That means the headline number depends heavily on which village, lot size, and builder you are comparing, so a single median only tells part of the story.
Want the deeper analysis? Reach out and I will pull current price per square foot by section, builder-level activity, current inventory, and how this community compares to Light Farms and the rest of Celina.
Whether you want the current market numbers, a private tour of the villages, or just an honest read on whether this community fits your family, I am one message away. No pressure, no pitch, just useful.
A social, farmhouse-style master-plan with a lifestyle director, The Nook restaurant, and a more accessible price point.
See Light Farms →A 400-acre Hillwood community with two amenity centers, an on-site elementary, and a more accessible price point.
See Lilyana →Six featured Celina and Prosper communities, side-by-side comparison, and a relocation guide for out-of-state buyers.
All Neighborhoods →Tell me a little about your timeline and your family, and I will walk you through the villages that actually fit. No pressure, no pitch, just useful.