Help me analyze a this deal

[Noel R.]

Off market condo in class C area with tenant in place on month to month who doesn't want to move. If tenant did vacate unit would require $4-7k to get rent ready.

$230k sale price

Current rent $1675 approx $125 below market.

New roof in 2010 and furnace in 2013.

HOA $145

Tenant pays utilities and owns appliances.

With conservative estimates for PM, Cap X, M & R, plus taxes and insurance it looks like this is going to be a negative cash flow deal even if I raised rents to market value. 

Am I missing something?