Bought a house in Bay area.

First time we just bought a single house in Warmspring district, Fremont, whose schools rank No.2 in the city, with elementary school API 900, junior high 900, high school 800. It is a 3 bed room and only 1 bath, with living area 1000 Sqf and whole lot 9000 Sqf, built in 1962. Its list price is 549k, we offered at 590k and got the offer. We have 7 days to remove contingency. At first we were trying to buy a 3 bed room and 2 baths house in the same area, but they were all above 650k which is more expensive for us. Because my only child is 4 years, so i think we can use this house for a long time even if it has only one bathroom.
But i am conscerning follows:
1. Do you think the price is reasonable? The prices has soared 100k than last year in the bay area.
2. The house is in a court. The courte is on one side of Warmspring Blvd which is busy. The side of the courte which this house is located is awar from Warmsprings Blvd. The distance between this house to the Blvd is around 20-30 meters.Kitchen and 2 bed rooms are closer to the Blvd, the back yard, living room and one bed room in on the side away from the Blvd. The other side of the court is on one side of Warmsprings Blvd. When in rush hours, it's noisy outside the house, in the court. But We can hardly hear noise inside the house if windows are closed. Do you think it's noisy, not safe and difficult to sell in the future because it's close to street?
3.The original owner of the house is a university. The university rented the house to its students to live, so the maintainence of the house was not good. We have to do these major repairs: Turmite on the roof $2000, Ground the wires, change the water heater, add screens to the windows, add shower doors, change the garbage dispenser in the sink. Do you think whether we can do all the repairs by ourselves except grounding the wires?
4.Because it only has one bathroom, is it difficult to sell it in the future? By the way, according to the seller agent, it had 10 offers in this bid. Of course we can remodel it by adding a bathroom.By the way, the yard is large but most part is paved by cement, no grass. The area around the central cement area can be planted vegetables. Do you think we should knok off some part of cement and to plant grass?
5.Our loan amount is 470k, credit score is around760. Our loan agent said she can give us 5.0 for 5-year-fixed rate recently. Do you think it's reasonable? What are your rates on your morgage in the bay area recently?
Thanks a million for your commends.!