I paid 63K cash for my first house in Tacoma, WA - and although I eventually left it after 2.5 years of living there due to the traffic noise (it's on a semi busy side street, a car every few minutes during rush hour, pretty rare outside of rush hour and almost non existent after 8ish.
In any case, it has been a rental for the past couple of years, and while showing the house recently, (first two people I showed it two wanted to rent it, I picked one), I realized the noise is not that bad, and it doesn't really bother me like it used to, especially after finding other noise issues NOT living on a busy street, in other neighborhoods I bought houses in throughout the sound. Even at the time I found a way to deal with it by playing white noise or music during the day, running a fan at night. In any case, the tenant had left all the windows open and it was a car every few minutes (rush hour) and I had to listen for it to notice it.
Furthermore, something I had read in an article about living in a house on a busy street popped into my head; I went to the back room and even with the windows open, I couldn't hear any of the cars. But I did have a nice view of my huge back yard that I can have chickens and a garden in, and a clothes line.
In any case, I'm glad I kept the house since it makes an excellent rental, is paid off and I can always fall back on it. If I turned the back room into a living room (it does have an exterior door and a closet) and the current living room into a bonus room or bedroom, it would be fine IMO. Is it perfect? No. But it is very walk able, near public transport, and a quick jaunt to Seattle or Bellevue. My favorite fishing spots and entertainment spots (free entertainment) are a 10-20 minute car/bike/bus ride away.
Because it is paid off, living there would allow me to save 108K a year of my post tax income and live completely off my investments. I've actually had less issues with neighbors at this house from what I recall, and won't have to deal with my lame ass HOA where I live now in a McMansion that is far too big for me and my gf (purchased with an eye to future rental prospects).
I can always move back into one of my other houses as well if it doesn't work out, basically all it costs me is the cost of moving. Plus even though my gf enjoys the ritzy neighborhood we are in now, she misses all the things we were enjoying not living in an HOA; chickens a large garden that provided a lot of our food during the summer (didn't get into canning yet), etc.
So for the price of a little bit of car noise that makes me run a fan, and re-arrange the living arrangement, I get a paid off place to live where I am saving my entire 108K a year post tax income, close to everything I like. At the very least, I could give it a try next time I have a vacancy, I can even pour some money into it for soundproofing. If it doesn't work out in the long run, I could just move back into any of my other houses when there is a vacancy (or just give 20 days notice since I only do month to month now).