Not bad! I'm not particularly familiar with the grunge genre, but it seemed like the instruments were played well in this cover. I can hear that the singer is able to reach the correct pitches as the song goes along, and the drumming seems consistent without missing beats.
However I figure I should mention the recording quality.
While I have no idea what your setup and technology is, it seems to be muffling/garbling your cover. So while the song was played rather well to my knowledge, the result is that it seems like the microphone was in a different room. It can be hard to perfectly understand what is being sung by the singer at times, and the drums sound distorted.
You seem talented, but unfortunately as a result of your recording equipment the cover doesn't sound as well as it probably did as it was played live.
If you had played this song inside a well-equipped recording studio, everything would sound the way it should and this would be a successful cover. So in the future if you get your hands on newer/better audio technology, or figure out how to make your recordings clearer with your current setup and play this again; I'm sure that version will be much better.
Keep up the good work! :P