Mustang Lakes, Celina Tx

Did you know Mustang Lakes has been rated as one of the best master planned neighborhoods in DFW. Located in Celina Texas, this 682 acre property was originally a thoroughbred horse ranch owned by the former mayor of Dallas. The developers even converted his home into what is now considered one of the best amenity centers in the USA.

Homes For Sale in Mustang Lakes...

Mustang Lakes Homes For Sale April 13, 2024
Avg. DOM
Avg. $ / Sq.Ft.
Med. List Price
35 Properties
Information is deemed reliable, but is not guaranteed accurate by the MLS or NTREIS. The information being provided is for the consumer's personal, non-commercial use, and may not be reproduced, redistributed or used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than LivingWell Realty are marked with the NTREIS IDX logo and information about them includes the name of the listing brokerage.

NTREIS data last updated April 13, 2024.

Mustang Lakes - Homes for Sale - Prosper Texas

Mustang Lakes Real Estate Market

Mustang Lakes is a unique neighborhood that occupies a former thoroughbred racing facility. The former mayor of Dallas created this beautiful property and raised the horses he loved on it, before it was sold and became Mustang Lakes. We are expert REALTORS® that understand the complexity Mustang Lakes real estate market. We have created a free Market Report that is always up to date and contains every listed home, pending home and sold property within the last 6 months. You can register for a free account on our website and sign up for our Mustang Lakes Market Update and it will notify you when any new properties come on the market.

Stay up to date with the latest Mustang Lakes real estate information; this page is updated with Mustang Lakes real estate listings several times per day from for the most extensive North Texas MLS.

Each listing includes photos, the price, year built, the size of the house (square feet), the size of the lot, number of bedrooms and bathrooms, and other important information. You’ll also be able to check the number of days it has been on the market (DOM), the MLS number, and the listing status (active, under contract, or pending).

Review exterior features as well as the architectural style of residences. If any appliances or other personal property are included with the sale, those will also be noted. When available, Mustang Lakes neighborhood details will be included along with a map, local schools, and similar homes for sale within the Prosper zip code.

Planning to buy or sell a home in Prosper? Be sure to read our market report...
Read The Mustang Lakes Market Report

A Panoramic Tour Of Mustang Lakes


We truly believe a picture is worth a thousand words and an interactive picture of Mustang Lakes really shows off its beauty. Nothing really gives you a feel for a place like being there and the combination of videos, 360 degree panoramic images and photos is the next best thing. We hope our digital media of Mustang Lakes helps you fall in love with this amazing Celina Texas neighborhood.

About Mustang Lakes

This beautiful former horse ranch still has over 60 acres of green spaces and open areas, one of the highest rated community centers and beautiful views provided by the rolling hills of north Texas.


Mustang Lakes is broken up into section or 'villages' that consist of similar homes of similar size and style. Usually at least two builders worked in each village to keep the architecture interesting. Each village has its own style and a unique name: Belmont, Bridlewood, Elmbrook, Lakeside, Oaklawn, Rolling, Rosebrook, Saddleridge, Twin Eagles, Waterview, Woodhaven.


The developers of Mustang Lakes have attracted some of the top new homes builders in the Prosper and Celina area. Names like: Britton Homes, Coventry Homes, David Weekley Homes, Highland Homes, Perry Homes, and Tradition Homes. You will find styles, sizes and prices that will work for virtually everyone and their budget.


Mustang Lakes is located on the border of north - east border of Prosper & Celina at the intersection of Frontier Pkwy and FM 1461. The easiest way to get to Mustang Lakes from 380 is to take Custer road north and turn left onto FM 1461. Mustang Lakes will be on your right.


When we give you a private tour of Mustang Lakes we always stop at the amazing 12,000 square foot amenity center. You can view it from the air by looking at our panoramic tour on this page. Mustang Lakes also has a ton of great amenities beyond the clubhouse:

  • 5-acre stocked fishing pond (14 fishing ponds in total)
  • Fishing deck and bridges
  • Junior Olympic pool, resort and tot pool with waterfalls
  • Tanning decks
  • Competition tennis courts
  • Basketball courts
  • Amphitheater
  • 18 miles of trails
  • Playground


The children of Mustang Lakes attend the highly praised Prosper ISD. Prosper schools are so well regarded that the same home we build in other school districts sells for less money. Sometimes a great deal less. The Sam Johnson Elementary School is actually inside the neighborhood and many kids ride their bikes to school.

HOA Fees

Everyone loves to hate the home owners associations, but they do keep your neighbors from painting their homes pink and parking a RV in the front yard. The HOA does come at a price in Mustang Lakes ranging from $130 - $200 per month and a bit more for custom homes. They do provide front yard mowings, weddings, and fertilizer for your front yard.