Police labelled the incident "despicable" after ambulance crews were called to a quiet residential road in the city.
Ambulance crews reported that a man had been stabbed in the chest in Hawksley Road at around 5.40pm.
He was taken to hospital but sadly died a short time later.
A 14-year-old boy was arrested on suspicion of murder and remains in custody.
Detective Inspector Justine Wilson said: "We are saddened by this incident and our thoughts are with the victim’s family at this time. We currently have a full team who will work around the clock to uncover who’s responsible for this despicable crime."
Detective Inspector Wilson added: "We believe this is an isolated attack, unconnected to recent incidents in other areas and there is no further threat to the wider public.
"We have reassurance patrols in place so if anyone has any concerns or wants to speak to one of our officers, please stop them on the street or call us on 101. We, like the community we serve, believe there is no place for weapons on our streets and are doing everything we can to put a stop to it."
The investigation continues and officers are appealing to anyone with any information that could help to contact us on 101 quoting incident 710 of 5 September. You can also call Crimestoppers anonymously on 0800 555 111.
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