Here's the deal with the ceilings - I am a true 6'3" and my head barely touches the ceiling in the living room when flat footed. it gets slightly better as you go to the back of the space. if you are taller than me, you're going to have issues (I hit my head a few times in doorways). This is sort of a basement - not really, as this is New Orleans, but it's the bottom floor on the side of a house and people live above you and you hear those people (and the dog) when they move around, but it's not like there's a party going on upstairs.
All that being said, this location is perfect for visits to Tulane. Easy walking distance and totally in the Tulane neighborhood. For its small size, you could comfortably get 6 people in here. Very clean and comfortable with a flexible, responsive host. 20 minutes to the airport, I have a feeling we'll be back many times over the next 4 years.