I visited Fairbanks last week of October, 2005, and stayed at the Ranch Motel. It's a very nice place. The people running it are nice. They tout the cleanliness, and they are right. The location is pretty good. Restaurant, laundromat, and quickie mart are right nearby. The motel is a one story building that stretches west to east between Cushman St and Steese Highway. There is convenient parking outside your door, with an outlet for your car's radiator heater. There are newer, fancier places, but for the economy end of the lodging scale by Fairbanks standards, it's probably a good deal.
Is there a catch? Sort of. There is no air conditioning. There was a portable fan in the closet. I expect that could be a significant issue for summer tourists. The heater fan was rather loud, and the bed in my room was right next to it. Bathroom was fully functional, but a bit small. Being the off-season I got a room in approximately the middle of the building. Road noise from Cushman St. or Steese Hwy was not a problem. I don't know whether or not that would be the experience in rooms closer to the ends of the building.
I have plans to revisit Fairbanks in Jan 2007, and there is a good chance I will stay at Ranch Motel again.