Depends on the plane, conditions, weight, climb profile, runway length, obstacles, etc., etc.
-mini
This is true, but for the most part, that 180 degree turn, ain't gonna happen. Really this topic belongs in another thread, "180 degree turn or not?" Frankly, I think even briefing it is a bad idea. If you plan on trying to make the turn back (and you don't really have any hard data because 180 turn with a departure engine failure isn't something published in the manual, you're just shooting from the hip) and you plan on making it at 1000' AGL, then what's to stop you from trying at 900'AGL in the heat of the moment? This is one of those "technique versus procedure" debates, but personally, I don't think you've got a snowballs chance in hell unless you're flying a powered Glider, or taking off into a 50kt headwind in a 172.
Give yourself more of an option than trying to perform a maximum pilot performance maneuver right off the end of the runway when you still probably haven't figured out whats going on. I'd much rather go into a field, or onto a street and total the airplane then try to make it back to the runway and crash-and-burn when I hit the fence. A lot (and I mean a lot) of times its not going to be as easy as "engine FAILURE!" its going to be a power loss, or some other abnormality. Hell, you may even get a reduction in power with all of your engine instruments and guages showing everything as good. Immediate 180 to the runway isn't even necessarily the best idea in those cases. That whole option goes away if the wx is IFR, or Special VFR.
Airplane like the caravan might do it if lightly loaded because you can feather the prop. Airplane like the 207 or the Cherokee 6/Saratoga, or the 172 with a load or the Lance, or the 206 (non-turbo'd, the turbo'd ones might climb a bit better, no?) will not in my experience. Ymmv. The only airplane I've tried it in where it worked was a cessna 152 with the sparrowhawk conversion, and that would get you back as low as 500'AGL if you made the turn at the exact instant of power loss. Barry Schiff wrote an article about this where he flight tested several different singles, taking off, hitting some arbitrary number then cranking and banking to get back. It didn't work most of the time. Having seen the results of trying to turn back first hand (smoking hole in the ground) I'd recommend against that policy all the time.