I stayed here for two nights (Fri and Sat) and it was great. Room is cozy and clean (Susan had a cleaning person come in the day I arrived). Susan is a great host: very friendly, easy to communicate with both in person and through email. Her cats ARE incredibly cute. And yes, the place literally is two doors away from a subway (though only the north bound track, you have to cross the street to get to the south bound track... still really close though).

It takes about a 25 minute subway ride to get from this place to the center of Time Square. As for location, it's not bad. It definitely isn't as developed as lower Manhatten. I've heard that it's a slightly more dangerous area, but I never had any incidents. For the price, it's totally worth it.