Are you only ever wanting a CS:Go build? Or would you like the option to expand into other games in future?
If you'd like to be able to play other games, I strongly agree with the poster above who was encouraging you to look at your second hand options.
lThe problem with the build you're suggesting is that you're literally getting the cheapest of everything. Which means you've got nothing to build on/work with. As soon as it doesn't cut it anymore you'd need to upgrade everything, = a whole new computer. You start all over again.
Here's my thinking...
Start with something like this:
http://www.ebay.com/itm/HP-6300-PRO-MT-Desktop-Computer-3rd-Gen-Quad-Core-i5-3470-3-2Ghz-500GB-Win10-64-/111999851029?hash=item1a13b61a15:g:LJEAAOSwfC9XOk3Y
It's a boring HP build, but it'll have an okay PSU, enough for a low end graphics card (nothing more). But, it's a very, very solid quad core CPU which would run all the latest games for the next few years (with the right GPU - which you can't afford right now).
So, you get that and a cheap GPU for now you and you have your CS:Go rig in budget. Then, all you need to do over the next little while (birthdays, Christmases, savings, etc), is get a decent 550W PSU ($30 on sale), some extra RAM (similarly cheap), and then save up for good graphics card (as much as you want to spend!), and all of a sudden you have a fantastic mid-range gaming PC which can play whatever games you want. It give you a solid foundation to build towards a very capable gaming rig.
Either way, here's a $60 graphics card ($50 if you count the rebate) which would do CS:Go pretty well. It's obviously not high end, but it much, much faster than a 710: http://www.newegg.com/Product/Product.aspx?Item=N82E16814133542&nm_mc=AFC-C8Junction&cm_mmc=AFC-C8Junction-PCPartPicker,%20LLC-_-na-_-na-_-na&cm_sp=&AID=10446076&PID=3938566&SID=