I think you played it right the whole way through. I play at the 1c/2c tables on Stars every now and then and your strategy was quite good against most of the people that play at those limits. I don't think you should have folded after the turn - at that point you had an open ended straight and a flush draw, in which you have roughly a 30%? chance of hitting on the river, although pot odds
would suggest folding as you were 1:3 to win the hand and pot odds were 1:2. If he would have went all-in after the turn, then yes fold after the turn, don't chase bad money with good.
The way it played out, great fold on the river, not much of an option there.