There are a number of homes in this range. If you have fixer-upper skills, you can get a real deal. Some homes need only cosmetic work but others need more extensive work. If you are a first time buyer and plant to live in the home you buy, there are lender programs to help you cover some of your repair and replace work. There are also a number of other first time buyer programs in several cities, some which will help with down-payments or other expenses.
If you're good with a smaller home, there are some two-bedroom homes available, many in move in condition. There is also something called a 'set-back house,' tiny little homes on normal sized yards. Most of these are in Minneapolis with a few in Richfield. These were built originally as temporary homes while the owners saved up to build a bigger home on the lot. With some of these, they ended up as rental properties, but in other cases, the bigger homes were never built, the owners moving out to the suburbs instead of building.
If you're OK with a one-bedroom, one-bath home at under 900 sq. ft. (some well under that) this can be a good option. Some of these have been redone and are very attractive.