If the bike fits you, then there is no reason why the ER5 shouldn't be considered. Nice and light, frugal and based ( very much ) on the venerable GPZ 500.
Why are you insistent upon water cooling?
If you can handle the thought of an air cooled engine ( which does give you less to worry about ) then the Vigor 650 is on offer for around 3k, although as a discontinued model it may be hard to find one now.
The XJ600N Diversion is another serious alternative to the ER5 and often advertised at 3 -3.2k. This is again a very proven engine.
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