If there is valuable software, database or other asset that is not currently contributing to the income - or will influence the earnings trend upwards - this could increase the price the site reaches at auction. Similarly, if there is an asset that will cease to exist after sale or a license that will revert or end post-sale this could adversely affect the price. If you haven't provided any of those figures then there may not be relevant notes to put this valuation in better context.
If the bulk of the traffic or revenue is from an associated blog or forum that could skew the valuation. Other things being equal sites in some sectors - like the adult industry - sell for a lower multiple. A site that revolves a lot around the seller's personality is more difficult to sell and could see lower prices.
Web businesses currently available for sale at various forums