I tried Google, it takes me to flea market pages, but if its just a flea market why don't people just call it flea markets? makes me think there must be some difference? I been to flea markets but never to something called swap meet.
Swap Meet is just another name for a Flea Market. Calling it such is typically a regional thing.
An extremely good price for an untested PS3 with the accounts still on it, I'd say it's most likely stolen. The thieves probably didn't even steal the cords that came with it.
Good find OP.
Kid got arrested and need to pay for bail/Died/siblings didn't want it anymore and moved out, left it with parents, who also don't want it. Also OP said it did come with the AC cable. If I wasn't around or didn't know shit about computers, my parents would go and just sell it with everything still on it, most likely. Think parents know how to operate game consoles and do factory resets on them?