We stayed in a second floor condo with a beautiful view of the water (and sunrises), although we were not directly on the water (none of the condos are). As others have mentioned, the road was visible from the deck of the condo, but it was actually a source of entertainment, as we would watch the goats and chickens wandering up and down it while we enjoyed our late afternoon post-dive cocktail hour. We could hear some street noise from the deck, but it was not obnoxious and the bedrooms themselves were fairly quiet, except for the roosters who seem to crow starting at 3 a.m. and intermittently then on.
The condos are very nicely decorated and we enjoyed using our kitchen (although we also went out to eat at several of the good restaurants on the island). Maid service could be a little better, but otherwise the property was bright, cheery, clean, with a good on premises restaurant. A jeep rental for at least a few days is a must for exploring the island. The resort has a pleasant pool area with bar and restaurant -- expensive, but good quality.
The owner/manager of Dive BVI is on premises which meant that this is an excellent place to stay if you want to dive. Dive BVI is one of the most professional dive operations with which I have ever had the pleasure of diving -- really outstanding staff, very safety conscious and service-oriented. I wish I could replicate them for anywhere else I might want to dive. The dive shop is a short (2 minute) drive away at the yacht harbor, and Dive BVI handled our transportation.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC