Do not build this, OP. You will be disappointed.
The minimum you need to match the performance of current-gen consoles is:
GPU: R9 270X, R7 370, GTX 760, or GTX 950 (R9 270 or GTX 750Ti will match the XB1 but not PS4)
CPU: Athlon X4 860K (or any quad core - this is just the cheapest currently available)
RAM: 8GB
With that in mind, here's the minimum console-equivalent build:
PCPartPicker part list / Price breakdown by merchant
| Type | Item | Price |
|---|---|---|
| CPU | AMD Athlon X4 860K 3.7GHz Quad-Core Processor | $73.89 @ OutletPC |
| Motherboard | Gigabyte GA-F2A78M-HD2 Micro ATX FM2+ Motherboard | $56.48 @ Newegg |
| Memory | Patriot Signature 8GB (2 x 4GB) DDR3-1600 Memory | $36.99 @ NCIX US |
| Storage | Western Digital Caviar Blue 250GB 3.5" 7200RPM Internal Hard Drive | $27.40 @ Amazon |
| Video Card | Gigabyte Radeon R7 370 2GB WINDFORCE 2X Video Card | $144.99 @ NCIX US |
| Case | Rosewill RANGER-M MicroATX Mini Tower Case | $29.99 @ Newegg |
| Power Supply | EVGA 500W 80+ Bronze Certified ATX Power Supply | $44.99 @ SuperBiiz |
| Prices include shipping, taxes, rebates, and discounts | ||
| Total | $414.73 | |
| Generated by PCPartPicker 2015-08-22 19:22 EDT-0400 |