Pros: 90 second walk to the market open area. Cons: about everything else. Rather spartan- no towel, soap, breakfast, etc. Your goal is to check out the city anyways, so if you are a single traveler needing a place to stash your stuff and crash for a night for cheap, this place works.
I read a lot about noise being close to Djema el Fna. I didn't find it a issue. The square seemed to shut down around 11 p.m. (on the weekend) and since you are tucked away down an alley, it's dead quiet even though you are only 100 meters or so away as the crow flies. Conversation at 9:00 can be easily heard. My first night I was kept awake around 1:00 a.m. by mournful wailing and another person trying to console, and again around 4:00 a.m. as someone successfully busted down the door. At 7 they were fixing the door; by 9 you would have never known. I considered this the odd domestic dispute that could happen in any neighborhood at any time. So for ambient market noise preventing sleep- I didn't notice any.
As an aside, do have fun with your "guides." As you stroll the streets someone who "works in the area" will tell you about the place. But he's not a guide. They have a wonderful knack of always staying exactly 20 feet in front of you. Even when you stop, they stop and talk to a friend, check their cell phone, etc. When you ditch him you run into him again 20 minutes later. Now he's visiting his mother who "lives in the area." You ditch him again, cat and mouse, and 20 minutes after that, there he is! "I was buying something from this merchant as I always do. So glad to see you again." At one point my "guide" was chastised by the other people for being a guide and harassing me. I was thankfully rescued by a local- who, of course, turned out to be just another guide in that jurisdiction. LOL.