It's perfectly possible to get a working 120 folder for 40 +-USD, they are not difficult to find.
But, it may require some looking, there are a great many I see offerred for that kind of money that are usable only for decoration.

Generally, these will be viewfinder and not rangefinder cameras, and most in that price realm will not do multiple formats, or if they do, they are likely missing the masks that enable that.
Most will have settable apertures and many will have more than 1 shutter speed (not including B or T). Virtually all will have tripod mounts.
The quality of the lenses willl vary usually with the price.