The man was found dead at a property at the intersection of Church Street and Justice Road in Cowes just after 10am yesterday.

A second man, aged 55, believed to be the victim’s son, was found at a nearby carpark with alleged self-inflicted injuries.

He was taken to St Vincent’s Hospital where he remains under police guard.

An investigation is now under way and homicide detectives spent most of yesterday at the home.

Locals say the investigation has sent shockwaves through the small Cowes community, which has a population of just under 7000 people.

“It’s a bit of a shock to the system, it’s a real community area, anything like this shakes the area up,” one resident told 9News.

“It’s pretty tight-knit down here away from the suburbs.”

A postmortem is being conducted today.

Anyone with information is urged to contact police or Crime Stoppers on 1800 333 000.

Readers seeking support can contact Lifeline on 13 11 14 or beyond blue on 1300 22 4636.