The Denon DL-110 is an excellent choice, but the OP states he needs a cartridge with at least 4mv-5mv output. The Denon is only 1.6mv.
I really like the Ortofon 2M series. If you could swing a tad more money, the 2M Blue would be a great choice. The 2M Red is only $99.00 and I love mine. I have it on a very expensive rig and it really shines. Color me impressed.
You might be able to find a used Audio Technica AT150MLX for around your budget. A little harder to setup, but a wonderful cart.
I really like the Ortofon 2M series. If you could swing a tad more money, the 2M Blue would be a great choice. The 2M Red is only $99.00 and I love mine. I have it on a very expensive rig and it really shines. Color me impressed.
You might be able to find a used Audio Technica AT150MLX for around your budget. A little harder to setup, but a wonderful cart.