I second Strum's second Strummy's suggestion regarding the Washburn D10S. You should be able to pick one up used in that price range. And it has a solid wood top which will improve with age.
If you're looking for something new in that price range, look for an all laminate guitar. The sound won't improve over time, but they make great beater guitars. You can take them to the beach, on an airplane, or to parties where you won't have to worry about it if your drunk friends (like us ) trash it.
Guitars and other stringed instruments: Washburn D10S, Washburn EA52SWCE, Washburn Cumberland J28SDL, Washburn D46S12, D'Aquisto Centura, Rover RM-50B Mando
Amps and Cabs: Behringer AT108, Firefly Tube Amph, Blackheart Little Giant BH5H, Shiner's Custom Cab v.1.0
". . . because without beer, things do not seem to go as well . . ." Brother Epp, Capuchin Monastery, Munjor, Kansas 1902