We live in a neighborhood similar to the central neighborhood you describe, and it's worked out really well for us. Having the ability to walk to the things you need (groceries, pharmacy, library, etc.) is amazing--it's really helped me to build more activity into my lifestyle without much effort. I would also think that if you plan to rent out your basement, either as an Air bnb or a long term rental, you'd get more money and a more consistent supply of renters in the central neighborhood.
And, one day, when you're ready to FIRE, you can always sell the central neighborhood house and upgrade to a bigger house in suburbs--maybe with a little extra $$ to spare.
Good luck! Let us know what you decide.