Well, I'd take it. It sounds like it's pretty good.
What's the landlord like? Is it well maintained? Does it include a fridge, AC, heater, and microwave? If it does include appliances are they energy hogs?
Look for mold, rust, and spots on the carpet. Is there a fresh paint job? If there is, then is the paint covering something up? Are the walls thin? Do the cabinets close properly? Do the doors? Are there two locks on the door? Do the windows open? Do the windows have working locks? Are there screens? Are you on the ground floor? If you are, do you have bars? Do all the lights work? If you turn on a switch do too many lights turn on, therefore burning energy? Do you have many outlets? Are there cracks in the tub or sink? Turn on all the taps, test them. How's the water pressure? Is the water clean? Taste the water, does it taste weird? Does the hot water work? Do you have a laundry room? If so, then how much is it to wash a load?
Check the pool, are there rust marks? Is there a proper amount of chemicals? Is the pool enclosed?
Um, I think I can come up with more, but this should get you started.