Go over to Oratoire St Joseph, take pictures, enjoy the view. Tour the top of Mount Royal (enjoy the view, take pictures). Come down the hill on Parc Avenue, make your way to either the Fine Arts Museum, McCord Museum (both on Sherbrooke street downtown), or Pointe à Callière (my recommendation); Pointe à Callière is in the Old Port, so lots of lovely buildings, views and things to take pictures of. I think you’ll love the Old Port, based on your OP.
You can pick a random restaurant (they are pretty much all good) or make your way back up the hill to the Plateau and grab a poutine at La Banquise on the corner of the Lafontaine Park (on Rachel street). The Park is very lovely to explore, so also great for photos. La Banquise is open 24/7 so you have absolutely no excuse to miss it other than lack of interest! They even have a 100% vegetarian option, if that’s your thing.
Someone else can give better jazz recommendations, but there’s likely something going on at the Old Port or on St. Denis. You’re too early for the Jazz festival (unless you move your trip to the first week of July!) but there’s always stuff happening.
I can’t really recommend cheap hotels, as I live here and never need one, but the Auberge de Lafontaine is rather pretty and close to the Lafontaine Park, so good for exploring. My mom often stays at the Chateau L’Argoat on Sherbrooke near St. Denis when she is in town for conferences and she loves it (if a public school board can afford it, I’m sure it’s decent!) I’ve seen one room there and it’s rather charming and just steps from the metro (Sherbrooke Station, Orange line) and shopping/restaurants on St Denis and the Main (St-Laurent Blvd).
All of these things are long walks from one another (doable, if you like to stroll, but harder with your time limits), but definitely easy metro and/or bus. You can get day passes for the transit system, or it’s $3.00 per ride (yeah, it’s pricey, but the monthly pass is quite cheap for those of us who live here).
Feel free to ask more questions; I can give you links if you want some…to be honest, I’m feeling tired and lazy at the moment, which if why I’m not giving you any 