A few weekends ago, I was visiting friends and saw that a house down the street was having a moving sale. I managed to get my hands on a like-new, barely used, nearly mint-condition Fuji Sagres for 10 bucks.

Flash forward a couple of weeks and I've converted it over to single speed, removed the drop bars (hand positions be damned, I just don't find them comfortable), added a flat bar, cleaned and lubed everything, and have had a blast rolling around town on this thing.

All told, with the initial purchase and a few small additions I probably spent less than 50 bucks on this project.