Description: Rainbow Falls Reservoir is a man-made lake located east of South Colton, New York, as part of the Raquette River. It is within the town of Parishville, New York, though the hamlet of South Colton. Boasting two 60+ acre lots of mature forest, this a chance to explore the outdoors and enjoy nature. Property is along the reservoir where a dock allowed on property within the Ferc Line with use of non-motorized boat. The reservoir offers great fishing including smallmouth bass, northern pike, yellow perch, black bullhead, rock bass, and walleye. There is a boat launch located on Raquette River Road.