You'll still need a preamp, you can get a decent one for around a $75+ if you go to a professional music store (Guitar Center, Tom Lee's, L&M etc).
Honestly and truly I think to really get the most out of vinyl requires a $250-350 budget for the table alone, $80 for the preamp and a MINIMUM of $90 for your cartridge.
For example my current setup is a used technics sl1200mk2 ($300), Denon DL110 ($160), ART USB phono plus ($110). The thing with cheaper turntables is that ALL the parts are inferior; sure it will play records but you'll miss a lot of the magic because the materials aren't gaulity enough to convey it. I think your best bet is to either save up and raise your budget (excellent idea because you can research at the same time), or hunt and hunt and hunt for phenomenal used gear. But I promise once you get a nice setup that works for you it will be such a beautiful moment!