In Mystic Manor, players take turns spending courage points to move to a new location inside the house or perform actions outside of the house that allow the players to build up their character's maximum courage and storage, sell items they have collected, gain new items, enlist the help of a pet dog, or reset their courage points to re-enter the manor.

Inside the house, you spend courage to move to a new room to collect items, attack ghosts, capture imps, bargain with apparitions, or gain the companionship of a house cat. Players will attack ghosts by rolling a die that will be augmented by the pets and tools that they have collected in their inventory. Imps may be captured by using a net. Apparitions, which appear only in the attic, will require the sacrifice of one item in inventory.

Each player has a limited amount of inventory and courage and a unique skill. They must manage their inventory and courage to defeat the ghosts and to venture further into the house.

Once a certain number of baddies have been removed from the haunted manor, players calculate their scores by gaining a dollar value for every ghost defeated, apparition dispelled, imp released, painting sold, item remaining in their inventory, and personal bonus collected. The player earning the most money wins.