The following collection of bikes was acquired for well under $200. Total.
Right off the bat, there's my current daily commuter, the Dumpster Queen, a 1983 Raleigh Marathon, with low-end Suntour components that work flawlessly.
Although a classic, I think my Raleigh DL-1 is pretty much just a basic bike.
My other commuter, currently sporting Shimano death cranks, is a 1994 Nishiki Sport XRS. The original store price tags said Oshmann's Sporting Goods, so it's low end by virtue of coming from a big-box sporting goods store.
And my future fixie, the Schwinn World Sport I picked up for $10 on CL.
Oh... and I also have some fixer-uppers that will eventually be sold, a 1970 Sears and a 1960 Hawthorne