This was my first time traveling to Madrid and also my first time using Airbnb.
Pros:
1. The location of this property is perfect. I was able to walk everywhere I wanted to see.
It's definitely a cool/hip area of Madrid. (There are at least two metro lines very close if needed.)
2. There are several late-night food options extremely close.
3. The host allowed me to check in early which was very nice.
4. The internet worked well throughout the stay.
5. The property is stylish and nice. While not big its perfect for a single person or couple.
Cons: (all minor)
1. It can be a bit noisy as the area is filled with bars and restaurants. Personally, it didn't bother me but a very light sleeper might have a problem. However, I wouldn't stay in this area of Madrid if you are looking for a quiet time. This area is pretty much a party spot.
2. Lack of natural light. There is really only one window that never receives any direct sunlight. This, along with being jet lagged made waking up in the morning very difficult.
In conclusion:
I would absolutely consider staying here again if I return to Madrid in the future. Mainly due to the location. Staying here made me feel more like a local and less like a tourist!