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Acer’s latest ultraportable notebook isn’t exactly an ultrabook. It’s not thin enough to qualify, and it doesn’t have solid state storage. But the Acer TravelMate B113 is a light-weight notebook with an 11.6 inch display and a starting price of less than $400.

The notebook has a list price of $399, but you can already pick one up from Overstock.com for $376.

At that price you get a notebook with an 11.6 inch, 1366 x 768 pixel display, a 1.3 GHz Intel Pentium 967 dual core processor, 4GB of RAM, and a 320GB hard drive. It ships with Windows 7, but Windows 8 models are also expected to be available.

Acer also plans to offer models with up to a Core i3 Ivy Bridge processor and a 500GB hard drive for those looking for a little more power. Once you get the notebook in your hands, you can also upgrade the RAM — the Acer TravelMate B113 supports up to 8GB of memory.

While Acer is targeting the TravelMate B113 at students, I can imagine a lot of other folks who might be in the market for an inexpensive notebook that weighs just 3 pounds, measures 1.1 inches thick, and features WiFi, Bluetooth, and Ethernet.

Of course, Acer kind of already offers a computer with many of those features — the Aspire One 756, which is already available from some stores for under $300.

The Travelmate B113 also goes on sale in Canada this week fro $369 and up. The laptop has been available in Europe since this summer.