The victim was threatened with a knife and handed over a sum of money during the incident in Windsor Avenue.
Police said they were told that a man had entered the property through a back window at about 10:00 BST on Monday.
The occupant managed to release himself before raising the alarm. He was not injured.
Police have appealed for information about the incident.
A man was tied up and left in a bedroom of a house in Newtownards, County Down, following an aggravated burglary.