This build looks very good but if I was buying this build I would get a different power supply. You should be able to play games at high setting with good FPS.

Looks like a decent build to me. But there are a few things I'd change.

Go AMD, CPU wise. For your budget Intel isn't really on the cards unless you're wanting to get an i3. Something like a FX6300 paired with a Gigabyte 78LMT USB3 will be fine. By changing the CPU and motherboard you will be able to upgrade your graphics card, a 280X maybe? If it's in budget.

I'd change the PSU and case also. Something like an XFX 550w and CM N200 would be perfect.

Make those changes and you still should be in budget. You'll have one hell of a gaming build.

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That's where my money would be. A little over budget but great build and has an SSD. You can save $85 and be under budget if you don't want the SSD but I would recommend it. No need for a 4670 as "Volk" suggested. It performs maybe 1% better overall. The 4670 is a little faster than the 4570 but not noticeably and not worth the extra $20 IMHO. The GTX 760 is a great card and much stronger than the R9 270. The GTX 760 is at the same price as the R9 270X and is a superior price. 128GB SSD to install your OS to and a 1TB HDD for storage. A 400W PU would suffice but at the price of the 550W in my build, it's a steal, plus you have room to upgrade in the future and still have enough power.