Need Help Analyzing a 56 Unit Deal

[Jal Singh]

Greetings BP!

I am working on a multifamily deal, but the numbers don't make sense to me. I would really appreciate a second (or third or fourth!!) pair of eyes. Please see the link to the T12 below. The NOI I am calculating doesn't seem right. I have a total net income at $304k (allowing for some vacancy here), but the expenses seem a bit excessive at $247k. The management fees look pretty high. This gives us a $57k NOI, am I off base here?

More info on property from the broker summary:
Units: 56
Price: $1,600,000 ($28,000/unit)
Cap rate: 7%

Dec 2015 T12

Any help with this is much appreciated, and thanks in advance for your time!!!