We bought our house in Saint Paul just over two years ago. Mid century house, built in 1957. Second to last house on the street, on top of a hill. Train is probably similar distance away, 100 yards or so. It is a freight line, and number of instances per day varies, but probably 15 or so pass by on average. When outside, it is annoying only if we have company or in the middle of a conversation. With windows open in the house, it can also be annoying when trying to watch a movie or something.
We deal with it though. House would be worth 15-20 percent more if it was located down the bottom of the hill away from the tracks. We are on the right side of the tracks though.
For those of us without unlimited funds to buy a house, we weighed the pros and cons. Loved the architecture of the house, and the neighborhood. Wouldn't be able to afford it if the tracks weren't there. We are hoping that one day they decide to convert the tracks to a bike path, which would likely increase our value by 20% +