The solution is to use overlay the image element with another image element, using position absolute and clipping (http://codepen.io/anon/pen/jqpwgV).
HTML:
<img src="img.jpg" id="image-overlay" />
<img src="img.jpg" id="image" />
CSS:
#image-overlay{position:absolute;clip: rect(0px,498px,374px,100px);}
#image{opacity:0.5;}
If you want to be future ready. Use clip-path with graceful degradation in your CSS. See code below (or http://codepen.io/anon/pen/zqLdxW).
#image-overlay{position:absolute;
clip: rect(0px,498px,374px,100px);
-webkit-clip-path: inset(0px 0px 0px 100px);
clip-path: inset(0px 0px 0px 100px);
}
#image{opacity:0.5;}