Rice Marsh Lake is part of the Riley Creek chain. It is 81 acres and has a maximum depth of 10 feet. Invasive species include Curlyleaf Pondweed and Purple Loosetrife. It is the only lake part of the Riley Creek train that does not have Eurasian Watemilfoil in it. Bluegill, Northernpike, and White Sucker are the most abundant common fish species. The lake has an informal boat launch that is accessible from a walking path that circles the lake.
In 2010 Riley Purgatory Bluff Creek Watershed District installed an aeration system on Rice Marsh Lake in order to prevent winter fishkill by sustaining good oxygen levels in the water.