You can get a used pro pedal for that price. Check around Ebay or Craigslist for some good deals.
You'll get a million reply's on what to buy. My personal favorite pedal and current pedal is the Pearl Eliminators. I would suggest going to a Guitar Center etc... and trying some out and then look around for them used on line.
Some of the more popular pedals are Pearl Eliminators, Tama Iron Cobra and DW 9,000 or 8,000. Or at least that's what i see mentiond by alot of people on here and other forums. Alot of pro drummers use these pedals as well.
Yeah, used is the way to go at that price point. Yamaha dual chains can be had for really cheap and are amazing. Everybody is obsessed with DW, Iron Cobra, etc. Yamaha's are overlooked and are just as good.
You should be patient and save up just fifty more dollars and get something for around $200.00. There is a much better selection of good pedals in that price range, plus you can get a $250.00 or $300.00 pedal on sale for around $200.00.
+2 on used. You need to be looking on Craigslist, eBay, the local classified, whatever you have in your area, looking for the amazing deal, like, "Drum peddles for sale. My son doesnt play any moar so these are for sale. I dont know much abbout drums, so Im selling them for $75." And the pedals turn out to be Iron Cobras or DW 5000s or something in great shape.