IME, electric water heaters are hardwired on a dedicated 240v circuit. It's also my experience that homes can have some sketchy wiring.
Having more than one large 240v load (range, water heater, dryer) on one circuit is not code, and may be unsafe, I would definitely have a licensed electrician take a look at it.
Having more than one large 240v load (range, water heater, dryer) on one circuit is not code, and may be unsafe, I would definitely have a licensed electrician take a look at it.