The 78-year-old was left shaken after the two males entered his home on Edinburgh Close off Mountbatten Avenue shortly after 15:00 on Monday (23rd February).
Making off with a wallet containing cash and cards, the duo headed towards Blackberry Lane and onwards to Park Road.
A 26-year-old Cowes man has been arrested on suspicion of burglary and has been bailed until 25th March.
DS John Stirling said:
“The homeowner is clearly shaken up by what happened but otherwise uninjured.
“We’re following up a number of lines of enquiry and would like to hear from anyone who saw anything suspicious in the area of Edinburgh Close.
“Cowes Primary School is at the end of the Close and classes would have ended a short time before so it’s possible parents picking up their children especially may have seen something.”
Did you see two men running from the address or hear the occupier calling after them? Anyone with information is asked to contact the Investigation Team at Newport police station on 101 or the anonymous Crimestoppers charity on 0800 555 111.