The $1 million house you're warned not to live in

A run-down Sydney home with cracking walls and and a rotting kitchen is expected to fetch $1 million at auction – but people are urged not to live in it.

The home on 80 Watkin Street in Newtown in Sydney’s inner west has been described as “incredible potential” for renovators.

The home on 80 Watkin Street in Newtown will be auctioned on December 14. Source: Realestate.com.au

“Positioned in a prime north Newtown address, this character filled semi is presented in original condition and absolutely brimming with incredible potential to create your dream inner west residence,” the real estate listing says.

While the home boasts high ceilings and natural light, paint is stripped from walls and an outdoor toilet is the only one on the premises.

The Agency real estate will host inspections until it goes up for auction on December 14, and agent Brad Gillespie told Yahoo News Australia it would require a full makeover.

The Newtown home is a renovator's dream. Source: Realestate.com.au

“It’s something any builder or tradesman could really sink their teeth into – whether they build it up or keep it as a single storey,” he said.

“It’s very much a blank canvas that’s ready to go.

“But you wouldn’t be living in it as is.”

Mr Gillespie said the two-bedroom home would suit young professionals or couples and had a lot of character.

The home is estimated to be more than 100 years old. Source: Realestate.com.au

“It’s free standing on the southern side and has windows down the whole right-hand side of the house which is rare in itself,” he said.

“It’s got a side passage walkway to the backyard and is a very old home with ornate ceilings and in a good spot.”

The home has been in the same family for decades and Mr Gillespie estimates it is more than 100 years old.

Anybody however looking to knock down the property and start from scratch need not apply.

The two-bedroom home boasts high ceilings and natural light. Source: Realestate.com.au

Mr Gillespie said while the facade of the home was not heritage listed, it fell under conservation areas so the look of the street is kept as is.

Mr Gillespie said already there was a fair amount of interest in the property and expected it to sell for between $1,000,000 and $1,100,000 .

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