Nice for some, not for a night-owl like me since there are young children upstairs. Of course I wouldn't ask children to stop running or playing, but for me personally it would have been nice to know about before I booked.

Pro:
Nice neighborhood.
Easy interactions with host.
Spacious place.

Con:
Woke up to the sounds of kids running more than once.
Apartment saturated with the smell of plug-in air fresheners.