Also check out Moonlight Villas on West End. Very reasonable prices, run by a Canadian ex-pat, a most marvelous lady. We celebrated our second anniversary there, and as we were the only guests she basically gave us the run of the place. We used the kitchen to prep our meals, and my husband even got to use the jerk pit, LOL. It is close enough that getting to downtown is not long, we actually walked it most days (good way to get a tan, though, it's about 20 minutes, but we like walking). It's on the cliffs, but there are steps to the water, and an amazing view. Although I am a Beach Road girl, I loved staying at Moonlight.
On the beach, I can recommend Alfred's Ocean Palace. They have rooms for under $100, too. There's a great restaurant right there, check it out even if you don't stay there. Good prices on plentiful amounts of food. I am craving the blackened chicken they do there like mad (nope, not pregnant). One caveat, if you don't like music close to your head at nights, Alfred's might not be the right place for you. They do a show on Sundays, Tuesdays and Fridays, and the music plays until 2 a.m.