All of the units which I have provided as comparables are all in identical zoning, where they have legal tri-plexes in an R2 zoning.

To avoid fines, don't use a phone number that is easily tied to your identity. 

A home identical to ours (same builder, same year, identical floor plan, one street over) on 0.25 acres, not at the end of a cul de sac, no pool/spa, and no privacy-fenced wooded lot recently sold (3 months ago) for 270k with an updated kitchen - and our market has only gotten hotter in this neighborhood since. 

Also,  condos and townhomes have almost identical characteristics so if a model match just sold for 500k.  

The good news is that my next door neighbor listed their identical unit for $10K over what I paid and received an all cash, over asking price offer within a week!

But that's another conversation...Now - don't you agree that you could have 2 buildings with identical top-line limbers, but very different expense structures?

@Ram SrinivasanLet me be upfront that I do not have firsthand experience with foreclosure in Alberta, but I have read and compared the process with foreclosure in Nova Scotia and the process flow is almost identical.  

When nearly identical commercial properties have vastly different NOI's because of their leases a cap rate is necessary to value the NOI.  

Side note: I have refinanced 2x in the past year and on the most recent appraisal at the beginning of spring, my house was appraised at $500K, but one of my tenants at the beginning of the summer purchased a 3 family almost identical in stats to mine for $540K and based on MLS have seen similar values, so that's how I am coming up with the $550K value estimate. 

As for Israel, I know nothing about real estate over there.