We enjoyed Lisbon and staying in Madragoa the past two weeks. The apartment is located in a great spot, close walking to amazing cafes, the waterfront, and the busy spots. The street itself is closed off to most cars and pretty quiet. We had a friendly check-in process. And waking up with a view of the rooftops and the sun over the ocean was wonderful.
The place also had some low lights. It's situated in an old building with other AirBnb units. You can definitely hear the other Airbnb guests. (The upstairs guests were jumping around for hours at 2am one night.) The bathroom had a pretty foul smell on most days and you can't really vent it out. The kitchen is good but sparse and lacked basics like dish soap. The towels had holes and the pillows were the disposable kinds. Overall, these are small issues in an overall good stay.
If you're visiting Lisbon for a long weekend I think it's a great place.