Binary Neutron Star (BNS) mergers are interesting events in the field of multi-messenger astronomy since they are sources of detectable gravitational wave signals and electromagnetic transients. Here I introduce a new method to calculate a conservative, lower-limit for the rate of BNS merger events that is proportional to the stellar mass and is based on evidence of an r-process event in the dwarf galaxy Reticulum II. Two estimates of the stellar mass in the nearby universe were made using a Schechter Mass Function and a modified version of the 2MASS Extended Source Catalog (2MASS XSC). The BNS merger event rates were calculated to be 285.88 and 266.77 Gpc-3yr-1 from the Schechter Mass Function and the galaxy catalog mass estimates, respectively. Predictions of observed rates with LIGO were made considering that ground-based gravitational-wave detectors have preferential sensitivity dependent on right ascension and declination. The predicted observed rate for a 200 Mpc volume was estimated at 6.30 yr-1. Additionally, this work explored other uses of the galaxy catalog created to estimate the rate BNS mergers, such as in the identification of the source galaxy during observation campaigns of these events, and in cosmological parameter estimation.

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