I'm doing a similar thing right now. I haven't gotten the drywall yet but with everything else added up I think I'm looking at ~$1000-1500 so far. I was actually surprised how affordable most of the materials were as long as you were willing to do it yourself. That estimate includes all materials and all permits and things like that to date.
Edit: I'm finishing about 650 sqft. of space with a laundry/furnace room, storage room and basement living room.
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