This space served as a perfect jumping-off point for my stay in Portland, with easy access to multiple bus lines nearby. Tom and Phyllis were very hospitable and pleasant to talk to, and quick to respond when I needed anything (e.g. towels, dishes).
Given this is a basement room, you will hear some sound from the hosts walking around upstairs (not a big deal but worth noting). And things can get a bit chilly in the bathroom in the winter months. The room heater they provided was more than adequate for keeping things comfortable in the main room, though.
Note they've added a mini-fridge and freezer since this listing was written; this made it convenient to store and reheat leftovers after visiting one of the nearby restaurants.
Overall, a great value considering the location and the assurance you'll be dealing with attentive, friendly hosts.