The Pros: Great location in a classic neighborhood, convenient access to all areas (if you're a good walker), spacious enough, good communication and friendly host, good internet, nice kitchen.
The Cons: Currently there is a HUGE street party happening directly in front of the apartment all June, sleep is near impossible and even getting to the door through the throng at night is difficult.. However, if you're into that, it's fun. It just needs to be listed in the description (and still isn't despite notifying them). Also be aware that access is via a walking street up steep stairs - I didn't mind and enjoyed it, but for anyone with mobility issues it could be a problem. Then again, Lisbon itself requires a lot of steep walking, so it's not so unusual.