1994 Chevy Cavalier Water line leakage

There is a leak in our water line we think. At first we thought it was a rad line, but I dont think it is. We poured water through where the rad cap is, and it comes out to a line that is not connected to anything. I took out an elbow joint peice that is rubber and we think the water line is rusted out because there is nothing that is anywhere to be seen that could be attatched at the other end. Does this sound possible? Need some feedback on what to do from here