Extremely great location, superb price, but you have to be realistic about your expectations.
You can only find these kinds of prices in hostels, where it will be a shared room, but here you get your own private space.
Not only that but its a fairly big enough space to be comfortable in.
The location is fantastic - its super near Redfern station and a few food places. Supermarkets are 5 - 10 mins walk away.
Sure it might get lively at night, but its not like a music festival is happening below you. Some noises but its really not that disruptive if you're a medium to heavy sleeper.
Its good spartan living for the price you pay for.
Great for single travellers .
The bottle shop is great - also much more affordable than other places, great to buy a beer and head up to your room for a drink.