Investment property with $200 $250 built after 1980 in some areas you can find them for $260 to $290 with rental returns of a 10% cap rate. $200 $250k now is low, but not to say impossible.
You can visit my website for listings at http://www.realestateinbrentwoodca.com
I agree that $250,000 is going to be a difficult price point for Brentwood homes built after 1980. That being said, don't discount places like Discovery Bay or Oakley. Both have very good schools as well. You will find housing more to your liking regarding the price range you are more comfortable with, and you can check the shools at http://www.school-ratings.com.
In Discovery Bay you will find homes on the golf course approx. 2000 square feet, and homes in the Country Lane or Timber Point neighborhoods, even some around the lake. OR even Lakeshore or The Lakes. The latter neighborhoods being gated with huge homes.
In Oakley I would suggest the Cypress Corridor of homes next to Iron House Elementary School.
If you would like a personal tour of the area please call me at 925-784-8863
The links is to a list of all the homes currently on the market in Brentwood.