A good bang for your buck situation! Mary is incredibly friendly and happy to offer great insights into cheap ways to enjoy the city. As Mary will tell you, it is definitely a staying in someone else's home situation, not a hotel experience.
While the home is a decent 40 minute street car ride from the main hub-bub, the ride down Saint Charles is so incredibly scenic (you pass some of the most magnificent mansions you'll ever lay eyes on) that we absolutely loved taking the trip into the city each day. With access to the street car, it is super easy to visit without renting a car (also it's only $3 a day for a pass!).
In terms of accommodations, this is a bed to sleep on situation. There aren't many frills, but it was perfect for our budget, and if you plan to take full advantage of the city, you probably won't be in bed until late in the evening anyways! That being said, Mary does her best to accommodate, offering fresh towels, netflix, and access to her tea and coffee!
Our only con was the cleanliness. The building is an older apartment with lackluster upkeep, but this didn't bother us particularly, rather there were just little things that could be cleaned a little bit more to make the environment more livable, like the grime on the sink and other bathroom appliances.
Overall, if you are coming to New Orleans on a tight budget, this is a good option to take advantage of.