Unrealistic comp prices - what's the deal?

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Hey everyone,

Quick question I was hoping some of you could give me input on:

I'm looking at buying in a neighborhood and noticed a comp price on a similar home that was way out of the ballpark of being realistic. Most comps on the street are hovering around 200k, and this almost identical house recently went for 350k. I don't think a kitchen and bath remodel can explain the discrepancy, so why might this be the case? Inflating purchase price for tax benefits? 

Would love to hear your ideas.

Thanks ahead