Try Oasis, it is the closest to the cross roads, right on the road and may be exactly what you are looking for:
If that doesn't work out for you, then yo are going to have to do some research....here is a list of hotels and places all over the southern part of the peninsula, just narrow it down to Mal Pais and Santa Teresa:
Then cross-reference the places here on TA, or at this location:
the site also has great maps that give you locations of hotels, stores etc, so you can have an idea exactly where they are in relation to geographic points.
VRBO for the Mal Pais or Santa Teresa area is also a good place to look for rentals.
Also try this place, Regfrog Villas, it is fairly new:
You have a lot of choices in this area, since you know the area already and you have your budget set, the rest is pretty straightforward....you just have to do your research and make a decision. Good luck!