Stationary Bike Advice?

I am looking to buy a stationary bike, but I don't know what I'm getting into. I've never purchased exercise equipment before and have only been to the gym a few times. I've always just walked/jogged/biked outside, but I'd like to change that.

Here are my requirements:
1) I'd like a recumbent bike. I've used both extensively at the gym and others' homes and I definitely prefer the recumbent bike. I find that I can go much longer without a break, and I can comfortably hold a textbook and get some studying out of the way at the same time.

2) It has to be silent, or as close to that as possible. I'm on a much different sleep schedule than the people I live with. I don't really have time to exercise during "normal" hours. I'd be using it typically around 11pm-1am while the others are sleeping. And the bike will probably be located in the basement beneath someone's bedroom. I've read a little about magnetic resistance and so-called silent bikes, but I find it hard to believe. How silent is silent?

3) It has to be affordable. I'm on a very, very tight budget, which is why I haven't bought one before now. I can probably go up to $300, but I'd like to keep it closer to $200.

If it meets those three requirements, it's perfect. While all of the electronic add-ons are nice, they aren't necessary. If I can afford it, I'd like different levels of resistance and built-in programs, but I'll go without if need be.

Is this a feasible request? Will I be able to find a bike that fits these requirements? Any suggestions?

Thanks
 
That's a doable expectation. If in the US, try Craig's List.
 
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