Emily & Chad's place was perfect for our Portland trip. It's in a quiet neighborhood on the north side of Portland. The place was furnished nicely and had a full kitchen. Despite being in the basement, there are several large windows that provide plenty of natural light (enough that we mostly didn't need to turn on lights during the day).
There are plenty of places for breakfast and coffee nearby and its only a block or so from the MAX lite rail, which is an easy 20 minute ride to downtown. The entrance to I-5 is also really close for day trips outside the city.