Helgufoss is not a giant. Its value is the quiet setting: a 12-meter fall, dark rock, and a short walk through Mosfellsdalur.
The waterfall sits on the Kaldakvísl river in Mosfellsdalur, close enough to Reykjavík for a short nature break but far enough from the city center to feel local. The fall drops over old dark lava rock into shallow water, with green slopes giving it a softer valley feel.
Use Helgufoss for what it is: a calm capital-area waterfall, not a substitute for Gullfoss, Skógafoss, or a full South Coast day. It works best when your plan already includes Mosfellsdalur or a slower Reykjavík-area countryside loop.
That scale is useful for travelers. Helgufoss gives you a real waterfall, a real stream, and a real valley setting without asking for a long drive, but it should still stay in proportion to the rest of the trip.