Emergency services were called to the Henry Street property in Paralowie shortly before 7am on Tuesday after reports a person had been stabbed.
Police found the victim, a 23-year-old man resident of the house, with critical injuries.Â
Ambulance crews rushed him to Royal Adelaide Hospital where he died a short time later.
About 9.45am, police located the suspected killer at a home at Trott Park in the city's south. The Sheidow Park man, 27, was arrested and charged with murder.
Superintendent Julie Thomas said the investigation was still in its early stages and police were working to determine a motive.
"Police are not looking for anyone else in association with this offence at this time and it is believed that the suspect and the victim are known to each other," she told reporters on Tuesday morning.
Supt Thomas said there were other people at the home at the time of the stabbing, but none of them were injured.
Footage released by police showed investigators clad in white overalls scouring the Paralowie home, with evidence marked out on the front driveway.
The accused man is set to face Adelaide Magistrates Court on Wednesday.
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