Edit in JSFiddle

.item {
position:relative;
height:100px;
}
.delete-overlay {
position:absolute;
top: 20px;
left: 30px;
display:none;
}
<div class="item">
   <div class="delete-overlay"><img src="http://lorempixel.com/50/50/" /></div>
   <img src="http://lorempixel.com/150/150/" />
</div>

<div class="item">
   <div class="delete-overlay"><img src="http://lorempixel.com/50/50/" /></div>
   <img src="http://lorempixel.com/150/150/" />
</div>
$(function() {
   $(".item").hover(function() {
       $(this).find(".delete-overlay").animate({ opacity: 'toggle' });
   });
});