This is THE spot to stay in for a trip to Porto. You are overlooking the river and are right in the center of all of the action. We enjoyed drinking local wine and sitting on our balcony in the afternoons.
I would NOT recommend staying here if you have a car, however. Parking is very challenging and expensive to find- especially on the weekends.
One other small thing- many reviews listed having breakfast supplied for them and food in the fridge, which we did not. In fact we didn't even have enough coffee for two mornings. The host, however, was very responsive and had more coffee delivered within an hour our message to her.