Sandwiched between the railway line and another home is this tiny, derelict bungalow. 

35 Ray Avenue is a three-bedroom, two-bathroom detached home being sold "as is, where is" for $649,000. 

Which is actually less than it was originally listed for back in September this year.

It was listed for $699,998, which, in my opinion, is a bit much for a whole lot of nothing. 

There are no pictures of the interior of the home or even descriptions of the room so I'll just assume this home is unlivable. 

Also the realtor does say this home is an "excellent redevelopment / renovation opportunity", so there's no question that this home will need to be torn down or completely gutted. 

The land it's on isn't the best, but also not the worst I've seen.

The lot is just over 31 feet by 74 feet but again it's literally right next to the tracks, which for anyone who is a light sleeper is a nightmare. 

The neighbourhood has some positives.

Mount Dennis is one of the most culturally diverse neighbourhoods and it's close to the 401, TTC and multiple greenspaces. In fact, it's Toronto's greenest neighbourhood. 

And there are signs of improvement with plans for a business improvement area and the Eglinton Crosstown LRT stop will make it a major transportation hub. 

But crime rates in this area are quite high, especially violent crimes. 

So is this home worth more than half a million? Hard to say. But considering the fact that housing supply has hit a decade low and prices  keep going up, this place doesn't seem half bad.