Debevoise Ave, Williamsburg

Debevoise Ave is actually a pretty great street around Cooper park. For one, it's right on the park which is always a bonus in a city that's a little lacking in green. It's not a big park but it's a nice one with a little dog run. It's a lovely park to live on or near and Debevoise is a lovely little street that compliments it. It's filled with older homes and apartment buildings that offer a bit more space than other parts of Williamsburg. And, the street is tree-lined and quiet. It's a bit of an older demographic on this street but there is definitely a trickle in of hipsters and young people. It's a little bit of a hike to the L train but nothing terrible. And, it's only a couple of blocks away from all the great restaurants and bars on Graham which is nice. You live close to all the good stuff but not directly on it so you don't have the noise and trash. The one down side to living on a quiet street, though, is that it's a little scary walking late at night. No one's out on this street and you add that to the park and it's a little bit sketchy but nothing terrible.
The part of Debevoise however, where the street picks up again (north of the park) is a completely different. It's not nearly as pretty, it's more desolate and it's way too far from everything, in my opinion. I wouldn't live on this run of the street. I don't think you should have to walk more than 10 minutes to get to any sort of convenience in New York. I don't care how cheap the rent is.
All in all, I would live on the street. I would just make sure to live close to the park. The rent is reasonable, it's quaint, and you're close to a lot of things.