Ivo is a great host, a really nice guy. He'll give you tips and guide you around Madrid. The room is quite confortable and its on a quiet neighborhood, which is perfect in the end of the day, when all you want is some rest after walking through madrid. If you're on a budget, you can use a good kitchen and save quite a few bucks(I did). The place is very clean, too.
Its near the Casa de Campo, lots of markets and, if you are not lazy, you can walk to madrid's center to see all the touristy things(but the metro is near, too).
And the price is also great, so... I definitely recommend staying there.