This hotel is situated about a mile from Dam square and takes about 20 minutes to walk to, so it's far enough out to be cheaper than a room closer to the centre but not too far to walk to. It's right on one of the outer canal rings, and there's a regular tram service that goes through the middle of the city and to Centraal Station if you don't fancy the walk.
It's a 2 star hotel so you know what to expect, and I was very happy with my stay. The staff were very friendly on check in and gave us a map with the hotel circled on it, as we had a fair bit of trouble trying to use map apps on phones to locate it! The room was simple, clean and warm with a lovely view of canal from the window. It's very typical of buildings in Amsterdam in that it has very steep stairs, and we were on the third floor which was a bit of a struggle after a few Heinekens!
We used this room simply as a place to sleep and spent 95% of our time roaming the city until the early hours, and for that it served its purpose perfectly. The only reason I marked it down slightly on condition is that the was a fairly sizeable crack in the window, which had been sort of repaired but our host pointed it out as soon as we entered the room and it wasn't a problem during our stay.
All in all, a great place to stay if you're just looking for a basecamp on the cheap and don't fancy staying in a hostel.