I think in that price range I'd at least look at the Schwinn World Folding with an MSRP of $420.
It has cantilever brakes and a single chainring/seven cog Shimano Tourney drivetrain. The seatpost is 550mm, which might be marginal for a taller rider (the seatpost is clearly not fully extended in the photo).
http://www.schwinnbikes.com/bikes/ur...g-14668#/specs