The incident occurred on the 7600 block of Wyndale Street around 4:30 pm Friday.
Police say the argument started out as a verbal one but easily turned into a physical one.
One of the man, according to police, had a boxcutter. The man's neighbors were able to wrestle the boxcutter away.
However, the man returned with a handgun on his person, then he barricaded himself in his house.
Philadelphia SWAT officers were able to easily diffuse the situation and take the 50 year old man into custody.
No one was injured in the standoff.