Properties on market for long time..What should I look out for?

[Account Closed]

I came across a property on Realtor.com that looks like it could be a deal. But that gets me thinking, why hasn’t a local investor bought this? What don’t I know? It’s been on the market for almost 5 months.

Listed at $35,000 ARV around $80,000 - $90,000. I looked at recent sales in last 3 months on comparable homes in same neighborhood, not the "zestimate." Lots of pics and looks like a cosmetic rehab. What are common reasons a deal that looks good on the surface would sit on the market for so long?