We recently stayed at Joe and Nelson's apartment in Sao Martinhao. I echo what other reviewers say: huge apartment, beautiful western facing view, large balcony, well-appointed kitchen, comfy beds, #4 bus to Funchal and aeroport shuttle at the front door, and a 5-7 minute walk to the Forum shopping centre and Pingo Doce. We did not have a rental car but if we did, they have underground parking. The Wifi was strong and they even have a TV package that has channels in various languages. This was especially appreciated in the evening after spending all day exploring Madeira.
While the decor is basic and a bit old fashioned, the apartment itself is high quality. One side (master bedroom & living area) faces the ocean, the other side faces the street. Noise was minimal at night although in one of the rooms, you could hear the upstairs neighbour talking on the phone.
Shoutout to Joe and Nelson who helped us communicate with the airline when our luggage did not arrive. Once it was located, they were super helpful in ensuring it got to the right place and even followed up to see if we were ok. Thank you!
For the size and location of this property, I think it offers great value and a wonderful base from which to explore this beautiful island!