Bad smell in street overhead (5)
I believe the answer is:
above
'overhead' is the definition.
(I've seen this before)
'bad smell in street' is the wordplay.
'bad smell' becomes 'bo' (informal abbreviation for body odour).
'in' means one lot of letters goes inside another.
'street' becomes 'ave' (abbreviation for Avenue).
'bo' placed into 'ave' is 'ABOVE'.
(Other definitions for above that I've seen before include "In a higher position" , "On top of" , "Higher than or over something" , "Too good for" , "Given earlier (in text)" .)