We live across from an elementary school in the District and it's mostly no big deal. Pick up and drop off traffic is occasionally a little annoying (mostly just when a commuter lays on the horn while a parent in front of them is poking around looking for their kid). There's also a bit more litter in our tree box, though not nearly as much as there would be around, for example, a bus stop. And, the trash truck that empties the dumpster in the middle of the day can be kind of loud when we're working from home.
But there's one huge bonus of living across from an elementary school: during non-school times, there's almost always parking nearby. After all, that entire block has plenty of parking spaces but no residents. We don't have off-street parking, so that probably outweighs everything else.
