AH yes. I actually like mine! It's the Idle air control valve on the back of the throttle body. There is an idle adjust screw facing the front of the car. If not adjusted properly, or if you need a high idle due to vacuum loss from a nice extreme cam, it will whistle. Also, if it's a Cali car, it might be the vacuum valve for introducing air to the exhaust system, although I have never seen this myself.
vacuum leak
check if you have an aftermarket turbo LOL
Is there another way you can describe the noise cuz i don't think very many mechanics will know when you say water running. I mean what does it sound like Hum, buzz, whistling, whirling, etc. You need to be more specific.
Plugged catalytic converter
Check the fan belt; it may need to be tightened.
i just typed in 92 Nissan stanza in Google and about three down their is one that says body kits. they only sell one its 600.00 dollars but its pretty nice I would check eBay......parts and accessories category
"Whistling" sounds are generally vacuum leaks. Start around the EGR valve and/or air intake de-icing assembly.
A car made in the early 1990's would be lucky to sell for a thousand dollars.
A seized gear can cause a knocking sound on a 1987 Nissan 5 speed transmission. A blown gasket can also cause this sound.
The fuel mixtue has gone lean.
Most likely an obstruction in the exhaust system. Often that is a plugged catalytic converter.
Your idle reglator needs to be adjusted so it idles at a higher rpm