616 Namor does not have the ability to control water innately. He has, however, been able to control water via Neptune's trident when he is Neptune's champion. He can also swim fast enough to make whirlpools. And Atlanteans have the ability to create tidal waves, as seen in the Golden Age (and retold in Marvels and Marvels Project), and to create giant walls of water, as seen in The Order.
In the Golden Age the Atlanteans were telepathic, including Namor, and some form of mental abilities survived into the modern age, with his empathy / command of sea life; resistance to mental attacks and illusions -- though sometimes that is attributed to superior will power. He also had, no lie, his own 'sprinkler system' where water would burst from his pores. Thankfully, we haven't see that since the Golden Age.
In the Silver Age, Stan Lee and Jack Kirby gave Namor some ... extreme abilities that basically allowed him to mimic any sea life, but later Marvel just came out and said he no longer had those abilities -- with the exception of absorbing electrical energy (a Golden Age ability) and discharging it. With his ability to sense currents, changes in the ocean, and aquatic life, etc., there's conjecture the Atlanteans have something like a lateral line.
In one story, Namor could draw life energy from the surrounding sea life, but we haven't seen that used again either.
Because Atlanteans evolved in the crushing depths, Namor's skin is 'strong' enough to have bullets bounce off him.
In the Torch mini-series, it was revealed that Namor is actually fireproof.
As Atlantean royalty, Namor's blood is actually a powerful magical ingredient. The last ongoing revealed that as ruler of Atlantis, Namor is actually a conduit for all the logos (sci-magic) used by Atlanteans.
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