My wife and I visited Austin for a ten-day Christmas vacation with our two adult children. This rental provided us with a terrific base. The house was spacious -- plenty of privacy, with three bedrooms and two baths. The kitchen was very well appointed (tons of cooking utensils, pots, pans, plates, toasters, all of that). There was good internet service, which was great, because all of us were poking away at laptops and iPads and smartphones. The beds were very comfortable, and there were plenty of towels. There was also a very convenient washer and dryer.
The house is located in what I would consider a quiet, working-class family area. It's a very easy walk to the parks along Lady Bird Lake and the shops and restaurants along Cesar Chavez Street, the main drag through East Austin. (There are some food trucks along East Austin and East Sixth Street that are world class -- you have to check out Vera Cruz and East Side Kings.) The more high-end restaurants are further away.
Though there are many places walkable from the house, I'd strongly recommend having a car. Getting downtown is about a mile and a half, and you have to pass under I-35. Getting to downtown, to the LBJ Library, to University of Texas, and to the South Congress Street restaurants are all very quick ten- or fifteen-minute drives -- but most days, you wouldn't want to walk that far. (Then again, we were there in the winter, and it was on the chilly side most days, so that may have influenced our decision to drive.) You'll also need a car to get to supermarkets. (Don't miss the experience of going to the Whole Foods downtown!)
The owner was very accommodating and easy to deal with. And I'll mention that the backyard seemed very nice and spacious, but the weather didn't lend itself to our using it much.
We'd be happy to return in the future. And Austin is a great town that you can to to time and time again!