This place is perfectly fine, and given a similar circumstance (more on that in a moment), I would consider staying here again.
When staying here makes sense: If you have a large group and don't want to pay for several hotel rooms, and/or quick access to Frenchman St. and the north side of the French Quarter.
When staying here does not make sense: members of your group will want privacy (two of the bedrooms are essentially in a hallway, and access to the single bathroom has to go through these two bedrooms, and/or you want to be able to walk home well after dark with easy access to the bulk of the activity in the French Quarter.
Overall thoughts: the house is mostly as described, although not as it has been reviewed. This is a fine place to stay, but certainly not great (and not deserving of 5 stars). There are holes in the walls, one of the faucet handles in the shower doesn't work, the AC is a constant problem (the apartment was over 80 degrees two days when we got back), and the neighborhood could be better. Not that I choose Airbnb's for the decor, but I could have done without the phallic decoration in the living room.
That said, for my family this made sense: we had six adults and two babies, were out early in the morning and came back home before dusk, meaning we didn't have the concern of walking home after dark. Don was extremely attentive, and even dropped off more water bottles for us as it was unseasonably warm during our visit. All told, it was a fine experience and we would consider staying here again.