Here's my el cheapo .22. If it wasn't for Hitzy's "not a raging pile of crap review" I don't think I would have bought it, but I'm totally glad I did. Full details below the picture.
it's a Norinco JW15A-13 bought from north pro sports for $223 including shipping and taxes
NCStar RB25 dovetail scope mounts with a 1.1" centre line from Mark at Colonel Mustard for $7.00
a no name brand fixed 4x32 scope for $25.00 that I picked up from Lever Arms on sale. I wanted to put my bushnell ar .22 scope on it but with the parallax adjustment it didn't fit with those rings, so I'd need to install new rings and a cheek rest for the bushnell scope.
a generic 6-9" swivel stud bipod for about $18.00 from ebay. It took less than 3 weeks to get here from Asia which was surprisingly quick as earlier this year i had packages from Asia take as long as 3 months
A set of GrovTec US Men's Machine Screw Fore End Swivel Set for $13.00 from Amazon.ca as I didn't like the one piece sling mounts that came with the JW15A.
A new striker spring for $13.00 from YoDave
And finally two 10 round polymer magazines for $76.00 from Dlask arms. I should get more of these magazines lol.
So I'm in to my JW15A-13 for about $375 I don't know if this still fits the OP's definition as cheap but it started off as $223 for the base rifle before I started kitting it out.
Sorry for the poor picture quality I'm having some issues with lighting.