Good things: wonderful location right next to the tower, which is in my view the best place to stay in Istanbul. The room is rather charming and old ottoman in style. Amazing views and tons of light. Staircase opposite beautiful marble 19th century piece, and there is a cool terrace with views of the whole city. Host is very warm and nice man.
Downside: it’s quite noisy,; there is no air-conditioning and it was incredibly hot when I was there the place is rather dilapidated, although in quite a charming way; I think the bed needed fresh sheets of insect bites, which may have been from mosquitoes or might of been bed.
In summary: with a little bit of tarting up, it would be ideal. Probably still a good bet given the price, given the location. You will certainly feel at the absolute heart of Istanbul, and the views of the mosques and the Bosphorous are magical. But a little down at heel