I know the street well. The Thai Market I shop at is on that street. If you want to see "interesting" walk in. That is a long street and AirBnb can be a bit deceptive sometimes, so you know it is within a block of Vaci ut (the train station basically)?
From a point of safety or interest or being "true Budapest" there is absolutely nothing wrong about it (you did see the overpass, right?). I suggest gong to Google Maps and do street view and walking around.
From the point of view of being close to the things to see, well its a bit out there and you will be riding public transportation a bit more than if you were closer to Andrassy ut or Deak Ferenc ter. But the M3 stop in the Nyugati Train Station underground is an unforgetable 3rd world experience. Do look around while you are down there. Its all safe but maybe the bar under the stairs where you will probably enter. Even its probably safe, but they look at me a bit funny when i look in the door so i just move on. Oh, if you are are really just feet away from Vaci ut then that big beautiful building with the birds on top of the domes was designed by Eiffel. I took Pilates in it last year. Quite a few of the buildings along there were Eiffel creations; as was the Train Station. The train station is worth the visit too. Behind it is the best modern mall in Budapest and within one end of the station is the most ornate McDonalds you will ever see. The best restaurant I know in the area is Persian. I had some Persian frined in town earlier this year and they say its the best they have had outside of Tehran. Is sort of "interesting" in a basement on a side street.
Now, every thing I just described you can see no matter where you stay. What that location is missing is the beauty of Andrassy ut in the evening and some convenience of location. The main reasons I suggest Andrassy so often (its a safe recommendation). BUT, its fully workable. You will just be taking the 4/6 Tram one stop to the Oktogon and Andrassy ut. Or one stop the other direction to 2 Tram (look for Colombo and his dog and some really interesting antique shops) that will take you to the Parliament the Chain Bridge, the Corso and the Great Market Hall.
I was absolutely no help was I? I try so hard to put my personal bias aside that I end up not being much help.
I will send you a PM with a few more thoughts.