You are more likely to find a home with a basement in the Northwest school district. I know of one that is under 400K and has a great layout. If you like I can set you up with a program that will let you search for your specific needs, including schools and the fact that you want a basement-that way you can see everything that is out there that meets those needs. Any home that is in MLS that has your criteria would come to you in an email. Its really easy to use too. I think that may be the best way for you to search. I'd love to help you if you aren't already working with someone. Thanks!

Imcara65,
There are some out there. I showed some homes in that price range with basements just last month. My buyers (both couples) chose homes without basements but they are out there. Usually they are built on a grade so that you have a walkout basement. It all depends on what size home you need and how much of a yard you want.
There were some in Henson Forest, Henson Farms, Jessup Ridge, and some other developments in the Northern school district.

If you are not already working with an agent feel free to contact me either through my profile here on Trulia or one of my other websites listed below.

Hope this helps,