Brooklyn real estate is a beast. You know that. I know that. But when you start looking at the deep pockets of Southeast Brooklyn, specifically the 11236 zip code, things get weirdly specific. We’re talking about 1392 E 98th St in Canarsie. It’s not just a random pin on a map. It’s a two-story residential property that basically sums up the struggle and the opportunity of the current New York market. Honestly, if you’re looking at this address, you aren't just looking for a roof; you’re looking at a piece of the Canarsie puzzle that most Manhattan-centric agents don't even understand.
Canarsie is different. It’s residential, quiet, and feels more like a suburban enclave than the gritty industrial vibes of Bushwick or the glass towers of Downtown Brooklyn. This specific property sits on a block that tells a story of generational wealth and the shifting tides of the outer boroughs.
What’s the deal with 1392 E 98th St in Canarsie?
This isn't a high-rise. It’s a classic, multi-family setup—the kind of building that people buy when they want to live in one unit and let a tenant pay half the mortgage. That’s the dream, right? The property at 1392 E 98th St in Canarsie typically falls under the R5E zoning or similar residential designations, which means it’s meant for low-density housing. You’ve got a building size that usually hovers around 2,000 to 2,500 square feet, depending on how the basement is finished out.
People often overlook this part of Brooklyn because the L train is... well, the L train. It’s at the end of the line. But that’s exactly why the price points at 1392 E 98th St in Canarsie stay somewhat grounded compared to the insanity of Bed-Stuy. You're looking at a structure that was built back in the mid-1960s. These are solid houses. They’ve got bones. They aren't the paper-thin "luxury" condos you see popping up in Williamsburg.
The neighborhood vibe around East 98th Street
Walk down this block and you'll see what I mean. It’s paved streets, parked cars, and neighbors who actually know each other's names. It’s about a ten-minute walk to the Canarsie-Rockaway Pkwy station. That’s the end of the line. If you’re commuting to Union Square, you’re looking at a 45-minute ride on a good day. On a bad day? Grab a podcast.
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Canarsie has historically been a stronghold for Caribbean-American families, and that influence is everywhere. You’ve got the smell of jerk chicken coming from the spots on Rockaway Parkway and the local bakeries that have been there for decades. It’s a community. It’s not a "transient" neighborhood where people stay for six months and leave. People plant roots here.
The numbers that actually matter
Let’s get real about the money. Property taxes in this part of Brooklyn can be a headache, but they are often lower than what you’d pay for a similar square footage in Queens. For a property like 1392 E 98th St in Canarsie, you're looking at annual taxes that usually sit in the $5,000 to $7,000 range, though that fluctuates wildly based on assessments and exemptions.
If you're looking at this as an investment, the rental income for a three-bedroom unit in this area is hovering around $2,800 to $3,400. Not bad. But you have to account for the maintenance of a 60-year-old building. Roofs leak. Boilers die. These are the realities of owning a piece of 11236.
- Zoning: Residential R5.
- Lot Size: Typically 20x100 for these mid-block parcels.
- Parking: Most of these units have a shared driveway or a small garage in the back. Street parking is okay, but it’s New York—"okay" is a relative term.
I’ve seen people try to flip these houses and realize that the renovation costs in NYC are a different animal. You can't just slap some paint on a wall and call it a day. The Department of Buildings (DOB) is active in Canarsie. If you try to do unpermitted work at 1392 E 98th St, they will find you.
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Why the location is better than you think
So, why here? Why 98th Street?
It’s close to Seaview Park. If you haven't been there, it’s one of the best-kept secrets in Brooklyn. You get the breeze off the water and plenty of space to actually run. It’s a stark contrast to the cramped parks in more crowded parts of the borough. Also, you’re relatively close to the Belt Parkway. If you have a car, you can get to JFK in twenty minutes. That’s a huge plus for people who travel or work at the airport.
But there’s a catch.
Canarsie is a flood zone. Not every part, but a lot of it. After Sandy, insurance rates became a serious talking point for any property near the water. You need to check the FEMA maps for 1392 E 98th St in Canarsie before you even think about putting down a deposit. Flood insurance isn't just a "nice to have"—it’s often a requirement from your lender, and it isn't cheap.
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The market reality of 1392 E 98th St in Canarsie
The market has been weird lately. High interest rates have cooled things down, but Canarsie remains a high-demand area because it’s one of the few places left where a middle-class family can actually afford a multi-family home. When a house like 1392 E 98th St hits the market, it doesn't usually sit for long.
Most buyers here are looking for stability. They want a place where they can grow. You’ll find that many homes on this block are owned by the same families for 30+ years. That tells you something about the quality of life. It’s quiet. It’s safe. It’s... Brooklyn.
Actionable steps for potential buyers or renters
If you're seriously looking at 1392 E 98th St in Canarsie, don't just look at the Zillow photos. Photos lie. Go there at 10:00 PM on a Tuesday. Go there at 2:00 PM on a Sunday. See what the noise levels are like. Check the driveway situation.
- Check the Certificate of Occupancy (CO). Make sure the house is legally a two-family if it’s being sold as one. Brooklyn is full of "illegal" basements that can get you in massive trouble with the city.
- Look at the Elevation Certificate. Since it’s Canarsie, you need to know exactly how high the first floor sits relative to sea level. This will dictate your insurance premiums for the next decade.
- Inspect the mechanicals. In these 1960s builds, the plumbing can be a mix of old galvanized steel and newer copper. If it hasn't been updated, budget at least $15k to $20k for a repipe down the line.
- Walk the commute. If you work in the city, take the L train from Canarsie-Rockaway Pkwy during rush hour. See if you can handle it. It’s a long ride, but for many, the trade-off for a backyard and a quiet street is worth every minute.
Canarsie isn't for everyone. It doesn't have the "cool" factor of some other neighborhoods. But for someone looking at 1392 E 98th St, "cool" isn't the goal. Stability is. This is a property that represents the classic New York dream of ownership in a borough that feels like it’s becoming increasingly out of reach for the average person.
The house at 1392 E 98th St in Canarsie is a solid example of what makes this neighborhood work: it's functional, it’s spacious, and it’s deeply rooted in a community that cares about its blocks. Just make sure you do your homework on the flood insurance and the zoning before you sign anything.
Run the numbers on the potential rental income against the rising costs of utilities and maintenance in New York. If the math clears $1,000 a month in net cash flow after all expenses (including a 10% vacancy fund), you’re looking at a winner. If it’s tighter than that, you might just be buying yourself a very expensive second job. Canarsie real estate is a long game, not a get-rich-quick scheme.