Not that I'd want one as it'll be seriously lacking oomph, but there sure is... http://www.victorsport.com/mobile/product_detail_1088.html
For that price, you aren't going to get much except clearance rackets in the US. Try badminton alley.com to see what they offer. If you are willing to go overseas to Hong Kong or other places then you will have more options at that price.
whats your definition of even balance? the real even balance is 285-288mm balance point. if 290mm and 4u there are many choices for high end and mid range.