I highly recommend staying here if it fits your budget. The location is incredible, literally on the canal (you can watch from your bed as gondolas go by, or locals on their boats) and the area is quite, beautiful, and feels surprisingly private. There is a small plaza just outside the building that is straight out of the 17th century, incredibly authentic feeling, and a great spot to relax after a long day of walking around the beautiful maze of Venice.
We decided against paying for an actual gondola ride during our stay because our experience living next to the canal felt just as special.
The room is small but I've stayed in smaller, and it has everything you could possibly need (including two fans for the humid nights).
The only two things we had issues with can be solved with a bit of planning. Anywhere you stay in venice will have a lot of mosquitos in the evening, and if you don't bring bug spray or a body suit to protect you, you will spend the last day tallying up a new personal record of bug bites (we did). Secondly, no wifi, but we found a solution to this fairly quickly. Go the restaurant on the corner of the plaza towards San Basilio station which advertises free wifi, get a bottle of wine or dinner there your first night along with the wifi password, which will give you good wifi anytime you enter the plaza thereafter.
Also, Elena was out of town so her friend, Alessandra, checked us in. She was at the station when she said she would be and was very nice, friendly and gave us a quick run down of the city. Both Elena and Alessandra were easy to contact and quick to respond if we had any issues.
All in all, I highly recommend Elena's Airbnb, it will be a special part of anyone's trip to Venice.