Maybe 20 inch wheels. $300-ish. Multiple gears, an 8 speed is fine I guess, something to climb the hills. City-style road bike. Can't seem to find any such thing with drop bars (so rare...) :/
The only good stuff in that range seems to be a Schwinn (says Google), Dahon seems to have stuff around there that's decent too. Most of that stuff seems to have cruiser handles, and I really, REALLY hate cruiser handles. Upright position kind of sucks.