Yamaha FG-700S

You just can’t go wrong with a Yamaha guitar.  They represent an outstanding value, they play well and sound great.  One model that is a particularly good value is the FG-700S.  You can buy a new one for $200, used ones can regularly be purchased for $150, sometimes less.   If you buy a used FG700, you can always sell it without a problem, probably for what you paid for it. The FG-700S is a full sized dreadnaught.

Solid Sitka spruce top
Nato back and sides
Rosewood fingerboard
Rosewood bridge
Black/white body binding
Tortoise pickguard
Die-cast tuners

Here's a sound clip -