Very good location to a vivid neighborhood with many restaurants and bars. Just next to a station to tram 86, 4 minute walk from tram 96, which take only 20 minutes to CBD.
The only point of concern (for female solo traveller) is that the backdoor entrance is a bit dark and quiet at night time, but I have not encountered any suspicious issues during my stay.
Fitzroy is a neighborhood with mixed reviews, as some Australian friends consider it not that safe at night (because can find quite a number of homeless people) but some consider it safe. During my stay the security did not pose an issue to me.
After all, this room is highly recommendable. The host is very nice, trustworthy and helpful, and the house is very clean and tidy. The location is excellent. Fitzroy is a very cool neighborhood that I enjoyed!