Effect of a 5-port switch on a network

my current network setup is: 1 old linksys wireless b router conntected to the high speed modem, with 2 computers connected by wires and 2 connected wirelessly.

the router no longer works for wired connections in any other ports, but we want to connect ~2 more computers that are in the basement to the network, we have the cables to potentially run down if the other ports worked. but they dont

i saw a cheap 5-port switch at futureshop

we have one of the 2 cables running to the basement already, if i were to plug that cable into the 5 port switch, and then connected all the computers in the basement to that switch, would they work as though they were plugged into the router, or else what would the effect be