Discover an exceptional 56.27-acre ranch in Bonham, TX offering luxury living, productive pastureland, premier water features, and turnkey livestock improvements. Conveniently located at 14867 FM 274 with easy access to Bonham, Sherman, and the Dallas suburbs. The centerpiece is a recently renovated two-story home with approximately 4, 571 sq ft, 4 bedrooms, and 5 bathrooms. Interior highlights include a gourmet kitchen with large island, formal dining, spacious family room, dedicated office, laundry room, front sitting room, attached garage, carport, and a covered patio overlooking the scenic ranch setting. The land features rolling hills, open pasture, and mature pecan trees with strong agricultural and recreational value. Currently set up for cattle production with excellent horse property potential. Infrastructure includes cross fencing, pipe fencing, barbed wire, cattle guards, and a working pen with chutes. Water is a standout feature with a stunning 2-acre bass lake, plus two additional ponds supporting livestock and wildlife. Ducks and geese frequent the property regularly, making this a premier waterfowl destination. A 2, 880 sq ft barn with an efficiency apartment adds versatile use for guest quarters, ranch help, equipment storage, or workshop space. Utilities include co-op water, electricity, and septic. Approximately 1, 900 feet of county road frontage provides excellent access and visibility. Located minutes from downtown Bonham and a short drive from Bois D’Arc Lake and Lake Ralph Hall. Whether you are seeking a cattle operation, horse property, country estate, or recreational ranch, this property checks every box.