The rule is, a corner lot is usually a good thing. However, a busy street is a busy street and busy streets are not a good thing. You are wise to be concerned about the close proximity to traffic. At night, with your bedroom window open, you'll hear each car that slows, then accelerates over the speed bump. I'd say pass on this property. Of course, if you're not bothered by traffic noise, and if the price is right, then it's really up to you. Danny (below) makes an important point. Someday you'll sell this property. Will future buyers be concerned about the close proximity to the street? Good luck with your decision.