310204, unit number 11-31, floor area 936 sqft, room type 4i. Tell me why it's not worth 500k.

Based on the recent transaction data for 204 Toa Payoh North, the sale prices for similar units in the last 12 months have ranged from $460,000 to $498,000. Given that your unit is a 4I type with a floor area of 936 sqft, the valuation would likely fall within this range.

The reason it is not valued at $500,000 is that the highest recent transaction price for a similar unit in this block was $498,000. Therefore, a valuation of $490,000 is more aligned with the current market trends and recent sales data.