A man has been stabbed to death in his northern Perth home in what neighbours suspect was a drug deal gone wrong.

Rick Bezant, 57, was allegedly slashed in his Hocking home about 6.45am (9.45am AEDT) today, sparking a homicide probe.

“There was just police turning up everywhere. We knew something was up when he saw Homicide,” a neighbour said.

Police said Bezant was found critically injured inside his rental property on Dimitrios Court, suffering a life-threatening neck wound.

He was rushed to Joondalup Hospital but couldn’t be saved.

A man was taken into custody this afternoon and was assisting police with inquiries. No charges had been laid.

Bezant’s father said his son had a heart of gold and had only moved to the area recently.

Neighbours told 9News they feared it was a drug deal gone wrong.

Dimitrios Court was cordoned off for hours as police focused on the home Bezant started renting less than six months ago.

A swarm of officers walked up and down Wanneroo Road collecting evidence as the suspected murder left the community on edge.

“My heart is going 90 miles an hour,” one neighbour said.

“You’re too scared to move out of your house. It’s not right, you can’t even leave your house.”