The place is the best cost x benefit for staying around Porto, from 1 metro station you can arrive in the city center and in a few minutes walking you arrive at the bridge between there and Porto, where is the main area.
The house is old, it's not the best comfort option, in an overall it didn't affect our experience, not a big problem for some days. Other good point is that is close to the Taylor's winery, where you can make a nice tour.
The hosts are very kind, we couldn't meet Pedro but his girlfriend was there and helped us a lot with some hints.
Porto, Vila nova de Gaia and guimaraes are excellent for eating good and drinking a nice wine, my recommendation for food is: Bacalhau and for drinking: Vinho Verde.