Apartment in Golden, Colorado

[Chris Shipman]

To start off I have not done any investing as of yet but I have been looking and noting on prices so hopefully in the near future I will pull that proverbial trigger. 

When searching Zillow I found this apartment for sale at $149k with an estimated monthly payment of $805. (with 0 down and 5% @30 years)

After living in the area for a while and seeing that there is a 2/2 property very nearby being posted for $1700/month, it would seem like this would be a decent investment with good cash flow.

Barring any kind of MAJOR issues with the property, what are some of the issues that I could not be seeing? It says it has been on Zillow for almost a month and a half so could that possibly be a red flag? 

http://www.zillow.com/homes/make_me_move/Golden-CO...