Ashley: Sorry to say; but if the heater is leaking from the bottom, it is time to say adios to it. The leak from the valve can be fixed or capped, the other cannot. The heater has a five (5) year warranty against tank failure, if you can determine when it was installed, you may be entitled to a replacement heater. There is a coded date listed on the rating plate somewhere on the lower part of the tank. Call the local distributor for Rheem and give him that information on the rating plate.. Lots of luck…Bud