Salomon Jadassohn, a highly influential teacher of the era, wrote this as a salon piece. It is characteristic of the 'Albumblatt' genre found in pedagogical collections of the late 19th century.
The technical demand involves keeping the accompaniment light and crisp to allow the melody to project.
Comparable difficulty and character — good candidates for what to learn next.
Albumblatt in E-flat major is rated Henle level 3 of 9 — late beginner repertoire, roughly ABRSM grades 4–5. In the RCM system it corresponds to about level 5.
You should be comfortable at Henle level 3 — meaning you can already play level 2–3 pieces cleanly. Learning it one level early is possible as a stretch piece, but more than that usually leads to months of frustration.
A typical performance of Albumblatt in E-flat major lasts about 2 minutes.
Albumblatt in E-flat major is available as free public-domain sheet music on IMSLP — the score is linked directly from this page.
Pieces at a comparable difficulty and character include Albumblatt by Salomon Jadassohn, Albumblatt by Salomon Jadassohn, Belle of the Ball by Leroy Anderson — see the full similar-pieces list on this page.