The average 2b/2b in the same building are ranging from $260,000 and up to $400.000.

My realtor says he is working with a family here in Denver that is shopping in the ~$350 price range.  

Then if he has the same information from 3-4 more purchasers and the cap rate comps are in a range say 8.75 - 9.25% he'd make adjustments to his potential property and say he thinks a 9.1 best reflects his property and would use that cap rate against his a analyzed NOI and come up with a market value.  

And you should honor and respect those opinions.  

Most of the houses with 2 stall garages are selling in the $110-125k range depending on upgrades and if they've added a 4th bedroom in the basement. 

After doing more research, I found that DORA states that a “Real estate broker” does not apply to any person acting personally acting as principal in acquiring or in negotiating to acquire any interest in real estate, or any person acting personally with respect to property owned or leased by that person....However, Article 1 of of the National Association of Realtors code of ethics states "Realtors®, when acting as principals in a real estate transaction, remain obligated by the duties imposed by the Code of Ethics." which includes all of the disclosure requirements.I found that the requirement to run all transactions thru the employing Brokerage comes from their rules that require them to monitor all transactions from employed brokers. 

Our "sweet spot" in our market- project size wise, I think we will end up in the $550K price range for our finished assets for the most part on the east side of the city. (2.)

The comps in the area range from 460-520 currently. 

He doesn't hang out here so I sent him your question and here's what he said:"My cost to paint would be $7650(1.25 sq ft inside/ 1$ outside), u can expect 3$ish sqft flooring depending on materials types, cabinets range from about 3800$- to nearly 20k installed for a set.

I generally buy in the 55-65 year old range.