3L.com domains start at around $10k for the worst letters and go up from there.
2L.com start around $500k.
Add in numbers and the price falls substantially. You can pick up 2 letters + 1 number (e.g: b0w.com) for under $500.
The best deals are from expired domain name auctions which is where domains like b0w.com sell for under $500. You can participate in auctions at auctions.godaddy.com, snapname.com, namecheap.com/market, dropcatch.com, catched.com, gname.com etc.
You can use namebio.com to find historic domain name sale prices which will help you get a sense for the values.
expireddomains.net has a complete list of all expiring domains and where to participate in the auctions.
GoDaddy has tens of thousands of expired domains going up for auction each day: you can filter by length and extension. The world of domains is complicated but if all you want to do is get a short domain for cheap then check the GoDaddy auctions each day and wait. prfu.com, exfh.com and zpun.com are ending in a few hours and will likely end under $500.
The person who linked you to josj.com is confusing things: domains can be leased but that's very uncommon, leasing domains is a bad business to be in. josj.com ever finding a leasee at $500/month is a fantasy. List prices are rarely the actual value. Lease-to-own is more common but separate (lease-to-own is essentially a payment plan).
My guess is it was bought because of that.