Mustang Lakes, Celina
A resort-scale master-planned community built around a historic horse ranch — private lakes, an enormous amenity center, and Prosper ISD schools.
The vibe
Resort amenities on a former horse ranch, in Prosper ISD
Mustang Lakes is built on a historic North Texas horse ranch, and the developer leaned into it — private stocked lakes, wide open space, and one of the largest amenity centers in the region anchoring the community. It sits in the Celina/Prosper area and, importantly for families, feeds Prosper ISD.
The lifestyle is the pitch: a resort pool complex, fitness center, tennis, miles of trails, an on-site elementary, and a full-time lifestyle director running community events. Homes come from a curated group of custom and semi-custom builders, generally in the upper-middle to luxury bands.
The trade-off is location and pace. This is farther north, so you get more amenity and newer construction for the money in exchange for a longer drive to the southern job corridors, and the community is still filling in.
Who it fits
- Families who want resort amenities and Prosper ISD
- Buyers who value private lakes, trails and heavy community programming
- Anyone wanting newer custom construction with more space for the money
- Households relocating who want an easy, social landing spot
Who it doesn’t
- Buyers who need the shortest commute to Frisco/Plano job centers
- Anyone wanting an established, mature streetscape today
- People who prefer a small, low-amenity neighborhood
Market pulse
Approximate figures reflecting recent NTREIS market activity. Numbers move month to month — confirm current data before deciding.
Typical range
~$600K to $1.5M+
Median sale price
~$860K
Price per sq ft
~$240–$310/sq ft
Median days on market
~35–60 days
Active listings
Moderate — active new build
Schools
Mustang Lakes is Prosper ISD — not Celina ISD, despite the Celina address
Prosper ISD, including an on-site elementary within the community. Prosper ISD is a major draw for the area. Assignments vary by section.
Confirm the exact district and assigned campuses for the address before you write an offer. I check this on every property.
What’s nearby
Community amenity center, lakes and pools — the resort core of the neighborhood
US-380 — the main east-west route to Frisco, McKinney and beyond
Preston Road (SH-289) — the north-south spine of the Prosper/Celina corridor
Historic Downtown Celina square — restaurants and small-town character
Prosper ISD campuses and the growing Prosper retail corridor
Miles of interior trails and open space
Before you buy here
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Factor the northern commute
You’re trading proximity for space and amenities. Drive the commute at rush hour before you commit.
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Builder and phase matter
A curated builder list still means different products and price points. Ask which builder and phase you’re in.
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Amenities are priced in
HOA dues fund the resort amenities. If your family uses them it’s a bargain; if not, weigh a lower-amenity option.
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Still building out
New inventory nearby competes with resale for now. Understand what’s planned around you.
Questions about Mustang Lakes, Celina
Prosper ISD, with an on-site elementary. Verify the exact campus for the specific address.
It’s in the Celina/Prosper area and is served by Prosper ISD — a common point of confusion, so always verify by address.
Generally the $600Ks into the $1.5M+ range depending on builder, size and lot. See the market table above.
Extensive — private lakes, a large amenity center with resort pools, fitness and tennis, trails, and a full events calendar.
See current Mustang Lakes listings
Want resort amenities and Prosper ISD? Let’s talk.
The details on this page — neighborhood descriptions, amenities, school assignments, and the market figures above — are provided for general guidance only and are believed accurate at the time of writing. Real estate market conditions, pricing, inventory, HOA rules, and school-district boundaries change frequently and vary by exact address. Nothing here is a guarantee, appraisal, or offer of representation, and it should not be relied upon as the sole basis for a real estate decision. Please verify all information independently and contact Maryam Bokhari for current, address-specific details.