Around Managua you will mostly find resorts with swimming pool generally close to beaches (see list below). In brief, nothing really cheap.
However, a few hostels around Managua are here for backpackers, although more expensive than other hostels elsewhere in Nicaragua. Try for instance Hotel Vista del Mar (Pochomil and Masachapa) a small but comfortable hotel located near the beach.
Other Hotel pages in Around Managua that may be of interest: Pochomil and Masachapa Hotels,
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