Excellent value if you can accept the compromises. The room was old, but clean. The main issue was nois. Everything in the building was noisy. People taking a shower or flushing the toilet just resonates from other rooms. Air conditioning was also really loud. Add to that all the noises from the neighborhood.
Nevertheless, I slept like a baby for 4 nights here after spending the days in and around Porto.
Breakfast is very basic but included, so again you can't beat the price.
Location: Don't let the distance from the center fool you. It's really fine with the metro. And all downhill if you decide to walk to the center. Of course, the way back is trickier.