No, an electric hot water heater element on a cheap electric hot water heater delivers ~15,000 BTU/hr, which is more than 3x oversized for the 99% design load. Plumbers recommend getting a MSZ-FH09NA or AOU-9RLS2 unit that can deliver over 8000 BTU/R @ -15F and uses only about 1/3 the amount of electricity of an electric boiler or hot water heater. The turnkey professionally installed cost would run about $3500 for either of those. Installing the outdoor unit in the breezeway or bracket mounted on the wall under the rake of the roof is highly recommended.