Beginner stated NOI question

[Michael S.]

Hopefully this was not stated some where else in the forums but I could not find it.

I am browsing listings for small multi-family units in the metro Detroit Michigan area and reviewing the stated current rent and NOI. I am finding lots of properties that seem to show an extremely high NOI. One example is:

Monthly Rent $1600 and yearly NOI $14,500.

This tells me that they only have $4,700 in yearly expenses?  Taxes are $3,324 so that would leave $114 per month for other expenses which seems really off based on what I have been researching here on BiggerPockets.

Should I just ignore what they state as the NOI and start with the general guideline of 50% of current rents for expenses? How can they state such a high NOI?