I have access to my parents MLS, so I searched for all listings for $425K (in Mass - greater boston area basically) and sorted by living area, here are some highlights:
Newton MA - AS IS fixer upper 918 sq ft 2 bed 1 bath 0.17 acres
http://www.homesforsaleinma.com/prop...m?mls=70539370
New construction in Sterling, MA 1600 sq ft 3 bed 2 bath, 2 acres
http://www.homesforsaleinma.com/prop...m?mls=70501429
Arlington, MA - nicer looking 1000 sq ft 2 bed 1 bath 0.14 acres
http://www.homesforsaleinma.com/prop...m?mls=70590168
Pepperell, MA - a pretty 2400 sq ft colonial 3 bed 2.5 bath almost 2 acres
http://www.homesforsaleinma.com/prop...m?mls=70579595
Getting pretty far from the city (boston) at this point, but my cousin lives in pepperell and her husband does commute in at odd hours in only an hour and 15.
and on the bigger end:
Monson, MA - 3660 square feet 4 bed 3 bath, 4.61 acres
http://www.homesforsaleinma.com/prop...m?mls=70585372
Lowell, MA - 3400 square feet 3 bed 2 bath, 0.12 acres
http://www.homesforsaleinma.com/prop...m?mls=70536582
Live in the ritzy part of Lowell...
Largest Lot size for $425K:
http://www.homesforsaleinma.com/prop...m?mls=70443129
northfield, ma - 21 acres w/ a 3000 sq ft 4 bed 2 bath colonial, not bad. Western part of the state I think.
Land goes from as little as 0.17 acre for $425K (that house in newton as is is being sold as land) - to 26 Acres in Blackstone, MA or 30 in thompson, CT
Only a few listings came up and they were all 2 bedroom/1 bath condos. Here's one: 
