The location is good, if you want to stay away from the busy city centre and travel to Murano/Burano. However, the entry to the house can be difficult to find and the stairs to the house (about 25-30 steps) might not be welcome if you have really heavy luggage.
Overall, my experience was decent, however since it does not have air conditioning (yet!) it can be a less than perfect experience for guests in the summer.