We enjoyed our stay in Balmain which is an interesting area and easily accessible from the centre of Sydney. (But beware if you have heavy cases it is a steep 10 minute walk uphill from the ferry terminal).
The room was clean and modern with a good bathroom and shower and had everything we needed. However it is probably best suited to people who are travelling without much luggage as there isn't a lot of storage space.
We would definitely recommend Lindsay and Minny's place if you're travelling light.