Detective Chief Inspector Neil McGuinness of MIT said: “On Tuesday afternoon, just before 4.50pm, police received a report that a man had been stabbed.
“Officers, along with colleagues from the Ambulance Service, attended a property in the Fallahogy Terrace area of the village.
“Sadly, the man, whom we can now name as Cornelius O’Neill, was subsequently pronounced dead at the scene.
“Mr O’Neill was 56 years old and was from the Kilrea area.”
DCI McGuinness added: “A 33-year-old man was arrested on suspicion of murder and remains in custody at this time.
“At this stage, we are not looking for any other suspects.
“Our enquiries continue, and I’m keen to reiterate our appeal for anyone with information to come forward.
“Please contact us on 101, quoting reference number 1304 of 29/08/23.”
Information can also be provided to Crimestoppers anonymously on 0800 555 111 or online at www.crimestoppers-uk.org