150+ Days on the Market... Is that a RED Flag? - Toledo Ohio

[Walter Bounds]

I am a newbie to the investing game and I am looking to purchase my first investment property. The property is a multi unit 4 bed 2 bathroom that cost a total of $67,500. Both units currently rent at $550 so the total rent collected per month is $1100. I anticipate there will be some needed repairs like new siding, new appliances, and the general appearance around and in the property. The property is 11% below the zip code home value so I anticipate if I put some work into the property the value will shoot up. 

On paper everything looks good, however its been sitting for 150+ days on the market. Is this a warning sign to stay away? The deal seems to good to be true.