This extraordinary 855-acre live-water ranch lies in the heart of the Texas Hill Country, just west of Dripping Springs and approximately 45 minutes from downtown Austin. The property features nearly 1.5 miles of spring-fed Mustang Creek, flowing year-round—even in drought conditions—and dammed to create multiple deep lakes ideal for fishing, swimming, and paddleboarding. The ranch is also conveniently located within 30 minutes of the renowned vineyard region between Johnson City and Fredericksburg, as well as Wimberley. The land showcases dramatic elevation changes, with rolling valleys and commanding hilltops that deliver sweeping panoramic views in every direction. Crowning one of these hilltops is a 7,000 sq ft custom residence offering six bedrooms and seven bathrooms, thoughtfully upgraded with new hardwood floors, a fully updated kitchen, an elevator, a dedicated wine room, and a Savant AV control system. Outdoor living is equally impressive, with a negative-edge pool and expansive entertaining areas that take full advantage of the surrounding vistas. Privacy is paramount, with access provided by a gated, one-mile private paved road, and the entire ranch is high fenced. A large pond greets you at the entrance, and wildlife is abundant throughout the property. The ranch is managed under a wildlife plan and includes 10 deer feeders, six turkey feeders, and six established food plots, supporting a thriving habitat. Additional improvements near the creek include a two-bedroom, one-bath foreman’s house, a rustic three-bedroom, two-bath guest home, a well-designed equestrian facility, and a large equipment barn. The property has also been evaluated for the potential addition of a 5,100-foot private runway, further enhancing its versatility. Whether envisioned as a recreational retreat, hunting ranch, legacy estate, or private sanctuary, this property represents a rare offering that captures the very best of Texas ranch living. Additional acreage available; please inquire with agent for details.