Buying home in the middle of Major College Campus? Pro and Cons?

[Carl W.]

I am seriously considering buying a property that is basically in the middle of one of the campuses of our area's largest university. The home isn't located in the busiest part of the campus, which is downtown. It's more towards the quieter part away from the city center but still, only a few blocks from the student center, one of the student theaters, the library, university post office, and two small student residental buildings. The home is located right across the street from one of the academic buildings. Students can be seen walking to and from but not so much towards the end where the property is located. The foot traffic is heavier further down the road towards the aforementioned major buildings. 

I'd like to know the pros and cons of purchasing such a property, especially for resell in the future. It's a beautiful and expansive campus and I do like the feel and energy, but I'm sure there's downsides.