Tl;DR: Really fantastic place and would highly recommend staying here.

A really nice old house in the middle of Munich. You pretty much won't get anything for a similar price at that location. There's multiple bus/subway/tram stations nearby and it is only a quick jump away from getting to the Central Station. If you don't plan on buying a mass transit ticket, you can easily walk that distance in 15 or so minutes.
Heide is a superb host, who can tell you how to get from A to B in Munich. She also has some fantastic suggestions for restaurants in the area, including a fantastic Indian restaurant.
Just remember that you don't have Wifi here, but there's enough shops in the vicinity so you can access the internet. The shower takes a bit of getting used to, but one can't complain, considering just how central the place is and its price.