The man was pronounced dead at the scene in The Lukes, Dudley Wood, on Monday afternoon.
He is alleged to have been killed by a woman understood to have been known to him. The female suspect remained in custody for questioning on Monday evening.
West Midlands Police was unable to confirm the ages of the alleged victim or killer but neighbours said they had lived in the area for around 12 months.
An air ambulance was sent to the scene after emergency services were called at around 1pm but the man could not be saved.
A cordon was set up around the semi-detached two-storey house where the man died as police launched their investigation.
Uniformed officers were at the scene along with detectives and forensic specialists throughout the afternoon.
Meanwhile nearby residents were left in shock after seeing ambulances, police cars and critical care vehicles converge on the newbuild estate.
One woman, who asked to remain anonymous, said: "It's shocking to see and very scary. I just saw ambulances. It's usually quiet around here."
Another neighbour said the people involved "kept themselves to themselves" having lived in the area for around a year.
A spokesman for West Midlands Police said: "A man was discovered at a property in The Lukes at just before 1.15pm. He was sadly confirmed dead soon after our arrival.
"A cordon has been put in place while we carry out enquiries around the man's death.
"Our investigation is at an early stage but a woman - understood to be known to the man - has been detained on suspicion of murder and taken into custody for questioning."
Jamie Arrowsmith, spokesman for West Midlands Ambulance Service, said: "We were called to an incident on The Lukes at 1.11pm.
"One ambulance, two paramedic officer, the Midlands Air Ambulance Critical Care Car and the Midlands Air Ambulance from Cosford attended the scene.
"On arrival we discovered one male patient who was in a serious condition. Sadly, despite the best efforts of ambulance staff, it became apparent nothing could be done to save him and he was confirmed dead at the scene."