If your old Toro is anything like some of the older mowers, it will be going strong for another 20 years. I bought a 1972 Wheelhorse with mowing deck and blower in 1997 or 8 and finally retired it last fall. All it ever did was burn a little oil.

I would not be to quick to put your mower out to pasture. It is way better than the latest generation of mowers unless you go commercial and for what you have to mow. It would be worth fixing and maintaining what you have.

You want a high-quality, low-capability machine for a low price. That's a tough niche to fill. Most low-price machines are of lesser quality and offer less capability.

As products move up the price ladder, the manufacturers tend to add more capability and features without adding the quality. Capabilities and features can be printed in bullet format on the sales label and are highly visible when buyers are comparison shopping. Quality is something the buyer would need to examine closely and they'd need to know what to look for. Therefore, features and capabilities are easier selling tools. IMO, that's why we see quite a few lawn tractors with big honkin' decks and high horsepower engines to rival the garden tractors. However, those LTs don't match up well with the quality and attention to detail built into the GTs. They're sorta half-baked.

John Deere is one of the few manufacturers that offers something that is LT-capable, but built to GT-standards for quality and refinement. This is also sorta half-baked, but in a different direction. For most other brands this approach would be silly. However, green and yellow paint sells as well as bullet-points on another brand's sales label. So, JD can get away with it.

Unfortunately JD charges a minimum of $3K for the machines I've got in mind (the X300 series). Instead, I'd recommend buying used. That brings the price within your range and allows you to get a quality machine. Something from Simplicity or JD that retailed above 2,500 a few years ago should be close to what you want.

Since you are spending money on your old machine for repairs, don't spend a dime on anything. When the old Toro breaks down again, then buy something. You already have money tied up in the Toro so stick with it I think.

For mowing a flat yard with small hills you could look at a Snapper RER (rear engine rider). They are very very easy to work on and have a proven design that hasn't been altered since it was first made 30-40 years ago. With your budget this would be my choice as you will have the cheapest and longest ownership over any $1500 tractor. I may buy a used one later this year just as a backup and to help with fall cleanup.

If you are deadset on a traditional tractor style lawn mower, you will be limited to a Craftsman, MTD of differing brands, a used tractor, or a $1500 JD manual shift tractor.