People always say you should buy the worst house in the best neighbourhood. 

So if that's your game plan, then 640 1/2 Euclid Ave. is the worst house, but it's definitely in the best neighbourhood. 

Located in the Palmerston - Little Italy corridor of Toronto, this home is perfectly situated for fabulous restaurants and amazing shopping.

An aerial view of the neighbourhood. 

With a perfect 10/10 walk, bike, and transit score, you couldn't ask for better. 

"I think this property is an excellent opportunity to renovate your own smaller footprint among massive multi-million dollar homes," realtor Daniel Freeman told blogTO.

The bathroom. 

And he's not wrong, but the house is a mess, which is why it's being sold as is. 

The front porch. 

But it's probably even more of a mess than usual because the home has been listed two times previously, once at a lower asking price of $799,000, and still didn't sell. 

Potentially the dining room. 

The current listing price is $949,000, which seems high given it didn't sell at $799,000.

The basement with signs of efflorescence. 

It also seems quite pricey for what you're getting.  

A bedroom. 

For one, the home right now only has two bedrooms and one bathroom, and it's also only 11-feet wide. 

Another bedroom. 

And if you look at the old listings and the photos, it's clear the home has been essentially abandoned since 2021. 

The upstairs has an upper den/library connecting the primary bedroom and second bedroom. 

The owners who bought it in 2021 have made very little progress on renovating. 

The kitchen. 

The only thing that's visibly been updated in the past two years are the kitchen cupboards. The old stove has also been removed. 

A bedroom. 

This home needs a full gut renovation, which, if you're being realistic, will cost at least $500k to get it into a livable state. 

The backyard opens onto the laneway. 

If this was a detached house, you'd probably just demolish it and start fresh, but this is a semi-detached house, so that complicates things. 

There is potential to build a laneway house. 

In short, this project isn't for the faint of heart or small of budget. 

Parking at the back of the house. 

If budget isn't a concern, then you could transform this house into something special.

An aerial shot of the back of the house. 

The property is 126 feet-deep, so there's definitely space to add on to the house. The neighbouring homes are all at least three-storeys. 

An aerial shot of the front of the house. 

Depending on what type of renovations you do, this home could easily be worth $1.5 to $2 million, which is in line with the neighbourhood comparables. 

The backyard gets plenty of sun so would be good for gardening. 

But as is right now, it's probably not worth the $949,000 asking price.