Well, reading some of the reviews here made me worry a little bit before I went there, but surprisingly their room is clean enough to stay for a day or two! Their staffs are pretty friendly as well. You can store your baggage there before check-in or after check-out with no charges.
With that price, don't expect a 5-star quality hotel, this hotel is perfect for night rest. Try to get a 4th floor room and further from lift if possible. They have almost all basic equipment inside which is a plus!
Don't worry about the red light district area. Everyone know it's there but you can simply ignore them, and frankly they are almost invisible for me. The nearest train station is Kallang, which is about 10-15 minutes walk from the hotel.
I will definitely go back to this hotel if there is another trip down to Singapore.