What specs do I need in other components to maximize my Intel i5-4430 (4th gen) cpu?

[LogicLiker]

My friend upgraded his CPU and gave me this one: Intel i5-4430 BX80646I5

I need to buy a motherboard, a video card, ram, and a case, etc.

I am going to try to find stuff on CL or Ebay since I am on a low budget ~$500. Instead of needing links to products, I need stats and specs that are compatible with this processor (like the highest speed on the ram, the latest chipset on motherboard, etc., so that I can buy whatever is available 2nd hand). I am very novice, so sorry if my terminology is off. I already have a 1080p monitor, and a SSD & HDD drive with a copy of windows 7.

I definitely want a motherboard that supports USB 3.0.

Any help would be highly appreciated.

 

[Suztera]

You can get new products with that budget.

PCPartPicker part list / Price breakdown by merchant / Benchmarks

CPU: Intel Core i5-4430 3.0GHz Quad-Core Processor (Purchased For $0.00)
Motherboard: ASRock Fatal1ty H97 Performance ATX LGA1150 Motherboard ($106.98 @ SuperBiiz)
Memory: A-Data XPG V1.0 8GB (2 x 4GB) DDR3-1600 Memory ($63.99 @ Newegg)
Video Card: PowerColor Radeon R9 270X 2GB PCS+ Video Card ($169.99 @ Newegg)
Case: Corsair 200R ATX Mid Tower Case ($57.99 @ Micro Center)
Power Supply: XFX 550W 80+ Bronze Certified ATX Power Supply ($59.99 @ NCIX US)
Optical Drive: LG GH24NSB0 DVD/CD Writer ($14.99 @ Newegg)
Total: $473.93
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2014-05-17 16:27 EDT-0400)