Just returned back from over a week long stay with my wife and three children (one is a toddler) and it couldn't have been better. The location was great for getting in and out of the downtown area, accessing the water and other recreational areas, or hopping onto a highway to go north/south/east areas of Austin. I was in town for business, so getting into the downtown area quickly was important, and with a car I was able to get pretty much everywhere I needed during rush hour very quickly.
The home was a little nicer, I think, than advertised. Just enough space for the five us (given the toddler), but probably a little bit tight if our youngest was a little older-- but still very doable. The kids had space outside to run around and play (and socialize), or play in the living room inside.
As hosts, Eric and Shawna were a huge help, very friendly and inviting, and very available.
Would very much recommend!