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A good 5 string bass under $400?

I got an Ibanez SR400 at a pawn shop for $100. It plays nice and sounds good, but you'd never confuse it for a high-dollar instrument. But I'd still recommend an Ibanez, I'm sure you can get one for under $400.
 
I have some top end basses that I paid thousands of dollars for and to be quite honest they really aren't that much better than the $200 Squier Jazz Bass that I bought at Guitar Center. Check out the $200 Squier Affinity Jazz 5 string (it's made by Fender) if you get a chance, then compare it side by side to a Fender Made in Mexico Jazz 5 that costs in the range of $800 and a Made in America Jazz 5 deluxe that costs upwards of $1500. I think you'll find the Squier to be nearly as good (or maybe even better) at a fraction of the price. You'll have enough money left over to buy a stand, case, strap, strap locks and extra strings and still be able to walk out the door with enough money for lunch.
Here's the Guitar Center link - read the reviews, I highly recommend this 5 string.
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There's two versions of the Millennium BXP 5 string, one version is passive with three knobs, and the other is AC (active) with five knobs. Get one!

If you're ambitious-you might reach above your price range and buy a 'used-discontinued' Peavey Millennium (USA version) available in J/J,
or the J/MM (in a word-great). They also made a Milliennium Plus (USA) with other accoutrements, and a higher price tag.
 
You can likely get way more bass for your money if you look for something used, but in great shape. Those Squier 5ers are great values, and MIM Jazz V's can be had for under $400 if you keep your eyes open. I played an Ibby SR505 this morning at Guitar Center that was in that range, as well. Those necks are too thin for me, but a very nice bass.
 
I highly recommend checking out the Schecter basses. You can pick up a new entry level model for right at 4 bills. I have the Omen 5 string model and after a proper setup it plays as well as my friend's $2500 Tobias.

Tone is a different story though, the Tobias has tone to die for and clearly out performs the my Schecter in that arena. Still though the Schecter is very serviceable in that area as well, I don't think I could have gotten more bang for my buck.