PRICE IMPROVED! Discover approximately 20 AG-exempt acres in Collinsville, Texas, offering the perfect blend of privacy, functionality, and future potential. Located on paved FM 902 in desirable Cooke County with convenient access to I-35, Gainesville, Sherman, Denton, Fort Worth, and Southern Oklahoma, this exceptional farm and ranch property is ready for your vision. Whether you're planning to build a custom home, create an equestrian facility, establish a working ranch, or enjoy the homestead lifestyle, much of the groundwork has already been completed. Existing homesite and shop pads are in place with water, septic, and electrical service including a 100-amp panel already installed. Designed for horses and livestock, the property features sandy loam soil, full perimeter and cross fencing, multiple livestock pens, water to every pasture, and an efficient alleyway system. A 150' x 20' covered barn offers six stalls, feed storage, equipment parking, and additional workspace, with plenty of room to add a riding arena or additional improvements. A solar-powered gated entrance and mature tree-lined boundaries create exceptional privacy, while an approximately 800-square-foot farmhouse offers 2 bedrooms, 1 bathroom, a full kitchen, laundry area, and energy-efficient mini-split HVAC. Ideal as a primary residence, guest house, weekend retreat, rental, or temporary home while building. Relax under the covered patio featuring an outdoor kitchen and firepit overlooking wide-open pastures and a picturesque approximately 20-foot-deep pond that provides beauty and a valuable water source for livestock and wildlife. With AG exemption, build-ready improvements, equestrian amenities, and a recent price improvement, this versatile North Texas property is an outstanding opportunity for ranching, recreation, investment, or creating the country lifestyle you've always dreamed of.