I cant really comment on the place you are looking at, but I dont think its very centrally located.

What I can say is that for SGD80 you dont have to stay in a Youth Hostel. You can easily find a well located 2.5-3 star hotel for that price, and you will definitely get "a room to yourself" and possibly a free breakfast thrown in. www.asiatravel.com is a good website for SIN hotels.