Nice place, and great value! The hosts provided some very helpful information about the neighborhood, public transportation, restaurants, etc.
The apartment has a kitchen, dining area, one good bed, one futon, and a large bathroom. If you had someone sleeping on the futon as well as the main bed, there is no door between the rooms, so you would not have complete privacy. The only other drawback would be if you are very tall: the ceilings and doorways are kind of low.
There was some road noise (somewhat busy street), and some noise of people walking upstairs, but it didn't bother us much.