Well, the pros are that the location of this place is great, and it's clean and comfortable. The cons have to do with the hosts. After checking in, I discovered that the showerhead was broken. It took them a WEEK to fix it, and the fix was literally less than 5 minutes to replace a small piece. That sort of timing is completely unacceptable for an airbnb.
There were no amenities--I even had to buy my own toilet paper! Also, even though Madrid has some sort of law about paperwork for vacation rentals, don't let them bully you into sending them an actual photo of your passport. All they need is for you to fill out a form with your passport information. The other Madrid rentals I had just filled out a form as well. I've been living out of airbnb's for years and have stayed in many all over the world. Maybe these hosts are new to airbnb, but they are currently so subpar for this site that I just can't recommend this place, despite the convenient location.