Lake Nykurvatn has an area of 0,7 km². It is said to be rather deep and situated 424 m above sea level. Its discharge, Teigara, tributes to the fine Salmon river Hofsa.
The lake is on road no. 85 like lake Thuridarvatn, which is nearby. The lake abounds in lake char, ½-5 pounders. A long time ago, the reverse hoofed horse shaped creature, after which the lake was named, was seen on the lake shores every now and then. No-one succeeded in catching it.
The distance from the capital is 593 km by the Whale Bay tunnel and 23 km from Vopnafjordur.