The location is an interesting one to grade. In many ways staying at Murano was exactly what I wanted in my trip to Venice. It was very quiet at night, not super crowded, and very easy to find and get around. If you want the "Venice" experience I'd stay in Venice - but I didn't want all the craziness of Venice so I was ok with staying Murano (which is literally a 10 minute boat ride away). When you land in Venice from Murano there is a good pizza place right next to the the dock - go there, it's good. It's the first one you com across and the less fancy of the two.
Francesco's place was well located in Murano itself, a five minute walk from the main water-taxi to Venice proper. The view in the pictures was the actual view of the canal, there is an actual little garden. Overall a very good place to stay.
We were there at prime-time - but I felt the value was still quite good. I think perhaps why I give it a four instead of a five is the location. Murano is very quiet - and it seemed we paid closer to some of the more Venice-like prices. Definitely felt like a good value and had no problem with it - just not a 5 star value. This was overall quite a good place to stay and would stay there again with no problem.
The place itself was very clean, more than spacious enough for two and I imagine the pull-out sofa would be comfortable if there was a third or fourth. There were two bathrooms that worked great - not often to get two bathrooms in Venice - and one even had a bathtub that doubled as a hot-tub. The air-conditioning worked great - which is very important in the summer and was not always the case in m airbnb experiene in Italy this trip.
Francesco communicated great, met us and showed us around (not a big talker), and had a helpful guest book. He was a perfectly fine host and would definitely stay there again.