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If you have an action already (which is one of the big parts of a gun) and a good gunsmith, that price is doable for sure.
A custom barrel by many manufactures in different sizes and contures can run you $300 and under. (or more depending on what you want and who you buy it from) Buy a stock like an unfinished Boyds (Manufacture not member) Gunstock for under $100. You can finish it yourself with linseed oil.
Gunsmith will rebarrel, chamber in the round of your choice, glass-bed if needed, some trigger work and you'll fall in under that number. It's all in the parts you choose, but of course it's best to talk to a competent gunsmith who knows what he's doing. Tell him what you need it for, and he'll suggest the correct parts.
Of course for a few more bucks (hundred that is) you could build a lot better one
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Perfect Practice Makes Perfect
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