In a nutshell, The Aguada is good for the money in Cayo.
I think we payed around $40. The room had AC and ceiling fans which were needed.
The room itself was pretty basic. Tile floor, 2 single beds which had very basic old mattresses, but nice linens. The bathroom was also very basic with just warm water. The room itself was not too small, and nice and airy.
When we first arrived the main owner (female) was super friendly, very helpful in booking our tours. She went out of her way to make phone calls and arrange it all while we drove around.
Other than that, the other staff members were slow, not all that helpful, and not as friendly.

Now, 2 major concerns about this place:
1) My husband woke up with strange bites on his body that were not present the night before, and definately not mosquito bites. He thinks that the bed was infested with some sort of bug or flea. I slept in separate bed so didn't get them. The second night my husband slept on top of the linens and was fine. Who knows the whole story.
2) I did not feel comfortable with the Rottweiler dogs which roamed the property and pool area without a leash. Now, they never growled or even hardly acknowledged I was there, but they still gave me the creeps, especially when trying to get to our room at night.

There is a restaurant there which is convenient for breakfast, etc, but service is slow, so make sure you allow time if you have plans.

Overall, I liked the location - we wanted something in town that didn't force us to take our meals/ tours all one place. I definately recommend doing that if you want to get the real feel of Cayo. We ate dinner one night at Blancenaux one night- very cool place, beautiful, etc. However, spending all your time there would not have gotten you the same experience as walking through the streets of San Ignacio, eating at Eva's etc.

Also, I highly recommend the Cave Tubing Tour for anyone. The guide they use at The Aguada was awesome. It was just my husband and I, a very private tour. ANYONE can do this tour, an easy 30 min walk and an awesome float down the river! My highlight in Belize.