Everything RetiredGuy123 said was spot on. I just wanted to make sure everyone understands...it is NEVER good to cap a pressure relief valve. Doing this turns your water heater into a BOMB that will destroy your house and perhaps your neighbors homes, and most likely kill you.
The other point I'd like to make is that the water heater is 18 years old. While it MIGHT last a few more years, it IS past it's normal expected service life. Insurance companies are starting to deny coverage if your water heater is over 15 years old. I would NOT put any more money into this tank.
It is always better to replace things like this on YOUR time, and not wait until it leaks, possibly causing damage to the home or belongings. If it were my house, I would budget for a new one and replace it along with adding an expansion tank. To have a plumber do this would be around $1100, from what I've been told lately.
Hope this helps!
Frank D.
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Florida licensed Home Inspector #HI688. (352) 250-7818
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